Regulatory Alerts2024-03-27
Added · Updated
HKMA Reminder on US Securities Transaction Settlement Cycle Shortening to T+1
The Hong Kong Monetary Authority (HKMA) has issued a directive to all Authorized Institutions (AIs) to prepare for the US Securities and Exchange Commission's implementation of a T+1 settlement cycle effective May 28, 2024. The regulator requires AIs to assess their operational capabilities, enhance systems and infrastructure, and ensure sufficient funding arrangements to meet the compressed post-trade settlement timeframe. Additionally, AIs are advised to raise client awareness, consider deploying additional staff, and utilize the HKMA's US Dollar Liquidity Facility if necessary to manage the transition.
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