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Shortened Settlement Cycle

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This alert is notification that a significant change in the settlement cycle will be taking place on September 5th. Detailed below is a broad overview of the impact and what it will mean for our clients and Janney.

  • Effective September 5th, 2017
  • Double settlement date September 7th, 2017
    • Trades executed 09/01/17 will settle regular way (T+3) 09/07/17
    • Trades executed 09/05/17 will settle regular way (T+2) 09/07/17
  • Scope is generally equity and fixed income securities, and products comprised of those securities.
  • Why T+2
    • Risk reduction- fewer days less risk
    • Process efficiency- leaner batch processing; improve straight through processing
    • Global harmony- the move will align North America with other global markets that currently operate in T+2

For additional information regarding this change, please go to www.ust2.com.