Just a FYI “Dear Moo Trading industry update: New trade settlement period Trades executed on or after Tuesday, May 28, 2024, will settle on the next business day (T+1) for most U.S. securities traded on U.S. exchanges. This industry-wide update will see a one-day decrease in the current settlement period (T+2). The two-day settlement period has been the industry standard since 2017, when the Securities Exchange Commision (SEC) shortened the settlement period from three business days (T+3) to two business days (T+2). Why is this changing? The shift towards shorter settlement periods is primarily driven by advancements in technology and investor demand for faster transactions. This change helps reduce credit and liquidity risks between trade and settlement dates, while meeting the expectations of investors for quicker turnaround times in financial markets. Which transactions will this affect? This change will impact most security transactions, which includes stocks, bonds, municipal securities, exchange-traded products, unit investment trusts, certain mutual funds, and limited partnerships that trade on an exchange.”
Glad to see equities catching up and joining the 21st century, not really, to futs. And they say futs are risky lol.