T+2 Settlement Comes to Canada

 Transition to a shorter settlement cycle for equity and long-term debt market trades is expected to occur in Canada on September 5, 2017. The standard settlement cycle for such trades will be shortened from three days after the date of a trade (T+3) to two days after the date of a trade (T+2) pursuant to amendments to National Instrument 24-101 Institutional Trade Matching and Settlement  adopted by the Canadian Securities Administrators on April 27, 2017. The timing of the transition will coincide with the date markets in the United States are expected to move to a T+2 settlement cycle. 

What Will Change?

The following amendments to NI 24-101 will apply to registered dealers and advisers, clearing agencies and matching service utilities: