Navigating T+1 affirmation models

Navigating T+1 affirmation models

Navigate regulatory requirements and operating model flows available for T+1 trade affirmation processes with our new guide.

December 2023

We are pleased to share additional reference materials related to the planned shortening of the standard securities settlement cycle in the United States and Canada from trade date plus two business days (T+2) to trade date plus one business day (T+1) by late May 2024. In particular, this guide is intended to support greater understanding of the regulatory requirements and operating model flows available for US T+1 trade affirmation processes, and highlights other key impact considerations when preparing for the future.

US securities that settle through the Depository Trust and Clearing Corporation (DTCC) follow a trade affirmation process whereby counterparties verify and affirm the details of a trade before submitting it for settlement. In Canada, there is no affirmation step, but a similar pre-settlement process exists to ensure that the buyer and the seller agree on the details of the transaction.

We have been running a comprehensive enterprise-wide US/Canada T+1 program, and are committed to addressing your servicing needs for the accelerated settlement cycles in these markets. Visit our T+1 settlement: Clearing and settlement solutions page to learn how we can support your shift to T+1.


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