The Securities Industry and Financial Markets Association said it was optimistic about the progress of the transition. — Reuters
NEW YORK: The transition to faster trade settlements for securities in the United States has faced processing bumps although the switch has mainly been smooth, market participants say.
On Tuesday, US trading of equities, corporate and municipal bonds and other securities moved to a one-day settlement cycle (T+1) from two days (T+2), to comply with a rule change adopted in February by the US Securities and Exchange Commission.
