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Wall Street isn’t ready for T+1 settlement cycle: industry group

By Neil Haggerty ( December 12, 2017, 21:18 GMT | Insight) -- Wall Street is putting moves toward a one-day securities settlement cycle on the back burner while the US Securities and Exchange Commission studies the issue. The SEC study follows on the heels of Japanese plans to adopt the cycle for government bonds next year. Tom Price, a Securities Industry and Financial Markets Association managing director, said a T+1 settlement cycle for stock and bond transactions would be tougher to implement than a T+2 cycle that was approved last March after years of industry preparation.Wall Street is putting moves toward a one-day securities settlement cycle on the back burner while the US Securities and Exchange Commission studies the issue. The SEC study follows on the heels of Japanese plans to adopt the cycle for government bonds next year....

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