Posted on Wednesday, February 9, 2022

The Securities and Exchange Commission (SEC) published a rule proposal on Shortening the Securities Transaction Settlement Cycle.

This proposal aims to shorten the standard settlement cycle for most broker-dealer transactions from two to one business day after the trade date with a compliance date of March 31, 2024. The proposal would require a Central Matching Service Provider (CMSP) to submit a report to the SEC every twelve months describing the CMSPs policies and procedures for facilitating straight-through-processing (STP), its progress in facilitating STP during the period covered by the report, and steps the CMSP will take in the following 12 months. The report would need to be submitted to EDGAR using Inline XBRL.

Comments are due April 11, 2022.

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