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The SEC approved the move to T+1 but there is vocal opposition to the May 28, 2024 compliance date.
The SEC’s commissioners voted 3 to 2 on Wednesday to pass a set of amendments and new rules that would facilitate an industry-wide move from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for U.S. equity markets. The vote also endorsed a compliance date of May 28,...
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