SIFMA issued the following statement from Tom Price, managing director and head of technology, operations, and business continuity for SIFMA, on T+1 settlement:

“29 May is the first day of settlement of in scope trades on a T+1 timeframe, and SIFMA is optimistic about the progress of the transition to date. 29 May is a double settlement day, with trades from May 24th settling T+2 and trades from May 28th settling T+1.

SIFMA’s T+1 Command Center is fully engaged with the broad financial services industry, discussing among the designated participants such topics as conversion status information, transparency into the activity of other participants, and issue identification and socialization.

We are encouraged by the feedback from the industry. The transition is moving forward.”

Source: SIFMA

Heading into T+1 crunch time. If it ain't resolved in the hour or so, it will fail. That said, seems like @dtcc and the industry has done a pretty good job. Haven't heard of too many (none) serious issues. Kudos.

— Larry Tabb (@ltabb) May 29, 2024

Today’s trading in U.S. securities markets is on a T+1 standard settlement cycle and will settle tomorrow. We @SECGov are closely monitoring the transition to a faster settlement cycle that will benefit investors and take risk out of the system.

— Gary Gensler (@GaryGensler) May 28, 2024