What is T+2?
Change to Trade Settlement Date
Effective September 5, 2017, the standard settlement period will be shortened to two business days after the trade date (referred to as T+2) for securities that currently settle in three days.
This is an industry-wide enhancement that affects all equities and mutual fund transactions on both Canadian and U.S. exchanges. Securities that already have a shorter settlement period (e.g. GICs) are not changing.
T+2 refers to the settlement cycle of the trade date (T), plus the number of business days (+2) until the settlement date.
The trade date is when the buy/sell order is executed and the settlement date is when the payment/share delivery is made.
For more information or if you have any questions, please call us at 1.877.742.2900.