T+1 Settlement effective May 27, 2024
In May 2024, North American capital markets will shorten the standard settlement cycle for most trades in securities from two days after the date of the trade (T+2) to one day after the date of the trade (T+1). The expected benefit of a shortened settlement cycle is to reduce counterparty risk and increase overall market efficiency. The first day of T+1 trading in Canada will be Monday, May 27, 2024.
Marquest Asset Management Inc. has been actively preparing for the transition to T+1. Along with working with various industry working groups, we expect to be fully equipped to manage the T+1 transition.
For those interested in more information on the reasons for the change and expected impacts, as well as current industry thinking, we refer you to the following resources:
- The Canadian Capital Markets Association who is responsible for coordinating the T+1 transition for the Canadian financial markets. https://ccma-acmc.ca/en/
If you have any questions, please contact Marquest Client Services team at clientservices@marquest.ca or 1.888.964.3533.