T+1 Settlement and Beyond

As global markets continue evolving for T+1 settlement cycles, BBH is working with clients to help them optimize their operating models and support their readiness for this major industry shift.

In May 2024, U.S., Canadian, and Mexican trades moved to T+1 settlement. The move from the previous T+2 cycle seeks to reduce settlement risk, and reduce liquidity, margin, and collateral requirements. Other countries across the world are now assessing similar moves.

In addition to enhancing custody and settlements, the move has had a ripple effect on many processes across the securities trade lifecycle impacting all global asset managers and financial institutions.

It has also created an opportunity to automate and enhance previously manual or inefficient processes to meet the heightened demands and constrained timelines inherent in the move to shorter settlement cycles.

What's Ahead for T+1

The Securities Lending Lifecycle
(44 mins)

J.P. Morgan and Pirum help us uncover what managers can expect throughout the securities lending lifecycle.

Solving for FX
(54 mins)

ICI, Baillie Gifford, and Pzena Investment Management join us to help you ensure FX program readiness.

Investor, Distributor and Investment Perspectives
(44 mins)

Clearstream, Deloitte, and BBH consider all things transfer agency and maintaining an exceptional investor experience.

All About Affirmations
(31 mins)

BBH's Derek Coyle and Kristen Flores talk trade affirmations models under shortened settlement cycles, including the vital role of TradeSuite IDs.

Global Impacts on ETFs
(59 mins)

Industry pioneer Reggie Browne, GTS, and BBH ETF experts discuss how market participants should be preparing.

The Overlooked Challenges
(59 mins)
DTCC and BBH cover the most significant downstream impacts.

Initial Reflections

T+7 days 

- Adrian Whelan

June 4, 2024 -After months of analysis, deliberations, hard work and more than a little trepidation as deadline day loomed, U.S. T+1 is fully up and running. The main takeaway from week one is that apart from an initial night delivery issue at the DTCC last Tuesday and some teething issues at the Canadian Securities Depository on a subset of securities, the first week of accelerated settlement for U.S. securities has gone well overall.


For more thoughts from our experts, visit here.

Our Latest Insights on T+1 Settlement

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