Statement on SEC Chair Mary Jo White’s Support for a T+2 Settlement Cycle
Washington, DC, September 21, 2015—SIFMA today released the following statement from Kenneth E. Bentsen, Jr., president and CEO, in response to Securities and Exchange Commission Chair Mary Jo White’s letter on the move to a two-day settlement cycle for equities, corporate and municipal bonds and unit investment trusts (UITs):
“Shortening the time it takes to settle a trade will help improve the overall efficiency of securities markets, align the United States with other global markets and promote financial stability. We appreciate Chair White’s leadership and support for this initiative and look forward to working with the Securities and Exchange Commission and other market participants to achieve this important goal of a two-day settlement cycle.”