Preparing for T+1

The transition to T+1 in Canada on May 27, 2024 and in the US on May 28, 2024 will reduce the time to settle trades from the current T+2 settlement timeframe.

Automation is key to T+1 readiness as any current manual processes are unlikely to align with the shorter settlement timeframe. Given the degree of change required, it’s important to start preparing for the transition now.

Readiness checklist

Evaluate options to automate and prepare for T+1

  • Review operating model, processes, time-zone coverage and resources
  • Upgrade legacy systems, purchase new technology and market utilities
  • Consider outsourcing to a trusted third party