Preparation for T+1 Trade Settlement Changes

This guide outlines the upcoming transition to a T+1 trade settlement cycle, effective May 28, 2024, as designated by the SEC. The change will require that settlement for cash equities, corporate debt, and unit investment trusts be completed one day after the transaction date. The document details the implications for investment operations teams, including the need for process and technology adjustments. It discusses the rationale behind the shift to T+1, emphasizing benefits such as improved efficiency, risk mitigation, and better capital utilization. The guide also highlights the impact on asset managers, specifically the adjustment of the affirmation timeline from 11:30 AM ET on T+1 to 9:00 PM ET on trade date. Best practices for operations teams are provided, including reviewing broker preparedness and updating settlement instructions. The document concludes with Archer's commitment to evolving its technology and processes to facilitate a smooth transition for clients.