To ensure a smooth transition, Julius Baer updated its operational systems to handle a shortened settlement cycle in the US efficiently and effectively. 

In the USA, the settlement cycle will change from T+2 to T+1 as of 28 May 2024. And, in Canada, the settlement cycle will change from T+2 to T+1 as of 27 May 2024. Shortening the settlement period will reduce the timeframe available for market participants to complete post-trade processes. 

USA​

With the effective date of 28 May 2024 the Securities and Exchange Commission (SEC) will implement a T+1 settlement cycle for security trades with the first settlement date under T+1 on 29 May 2024.

Canada

​With the effective date of 27 May 2024 the Canadian Capital Markets Association (CCMA) will implement a T+1 settlement cycle for security trades with the first settlement date under T+1 on 28 May 2024.