Posts from February 2023.
Last week, a divided Securities and Exchange Commission adopted a set of rule changes requiring next-day (T+1) settlement of most equity trades by May 24, 2024. The suite of rules also require same-day trade allocations and affirmations, and T+2 settlement for firm-commitment underwritings priced after 4:30 p.m. Finally, the rules require clearing agencies providing matching services to work toward fully-automated “straight-through processing,” and to report to the SEC annually on their progress.
Announcing the rules, SEC Chair Gensler noted they were partially in ...
Posted in: SEC