Transition from T+3 to T+2 trading successful, says CCMA

Canadian market participants successfully concluded their efforts to transition Canada’s capital markets to a two-business-day (T+2) settlement cycle, says the Canadian Capital Markets Association (CCMA).

Read: CSA outlines steps for T+2 transition

The T+2 trading of equity and most debt securities, and the purchase of most mutual funds, was implemented on September 5, 2017 in alignment with the U.S. and other markets, CCMA adds, and T+2 settlement was completed two days later on September 7.

Keith Evans, CCMA’s executive director, says the transition in both Canada and the U.S. will help lower risk for investors and the system, and a”speed up the time within which buyers will get their securities and sellers will get their money.”

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