Accelerated Settlement Transition to T+1 in North America

This guide discusses the upcoming transition to T+1 securities settlement in the US and Canada, scheduled for May 2024. The document outlines the expected impacts of this transition, including reduced credit, market, and liquidity risks associated with settlement failures. It highlights the need for firms to adapt their operational processes and technology to meet the new settlement cycle. The guide presents insights from industry experts on the challenges faced by various market participants, particularly those still relying on manual processes. It emphasizes the importance of automation and technology upgrades to facilitate a smooth transition. The document also draws comparisons with India's T+1 migration experience, noting the necessity for firms to modernize their workflows. Additionally, it addresses geographical challenges and the need for firms to prepare their staff and operational behaviors for the new settlement deadlines. Overall, the guide serves as a comprehensive resource for understanding the implications of the T+1 transition in the North American securities market.