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for real-time settlement T+1: Revving up


The decision by the US Securities and Exchange Commission to move to next-day settlement of securities trades as of May 2024 – otherwise known as T+1 – not only affects every institution that deals with US markets, but also sets the regulatory tone for the rest of the world. Europe and the UK are already looking to shorten settlement cycles, while Asian markets are lining up to do the same.


Not only that, but T+1 is just the next step on the road to T+0: same-day settlement. In a world where instant responses and instant results are increasingly what financial customers expect, real-time settlement will arrive sooner than we might think, which heaps added pressure on banks to have the right processes and systems in place.


In helping banks to automate reconciliations, exceptions management, liquidity management and much more, SmartStream is well placed to not only help banks overcome the challenges of T+1, but also realise the potential benefits – both in terms of cost reduction and risk mitigation. Future Banking talks to experts at SmartStream about how banks can prepare for not only T+1, but also for the inevitable arrival of T+0.


26 The time has come to take T+1 seriously 29 Reconciliations must rapidly adapt to T+1 31 Future-proofing: Beyond reconciliations 33 Security in the age of AI and the cloud


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