Financial firms will take advantage of the long Labor Day weekend to update their systems for Tuesday’s start of the T+2 settlement cycle, which will require transactions to be settled two days instead of three days after a trade is executed. “The project is changing the market structure that touches every market participant whether they are buy side, sell side, service providers, utilities, big firms, small firms or custodians,” says Tom Price, a managing director at SIFMA.
Learn more at SIFMA’s Shortened Settlement Cycle Resource Center.