SIFMA Statement on Today’s Transition to T+1 Settlement

New York, NY, May 28, 2024 – SIFMA today issued the following statement from Tom Price, managing director and head of technology, operations, and business continuity for SIFMA, on today’s transition to T+1 settlement:

“Over the weekend, SIFMA’s T+1 Command Center was fully engaged with the industry, discussing among the designated participants such topics as conversion status information, transparency into the activity of other participants, and issue identification and socialization. That engagement will continue throughout the week. The industry has taken steps to be ready when the U.S. markets open today, which is the effective date of the transition to T+1 settlement, and we look forward to continued progress towards T+1 and helping investors and the industry realize the benefits of this change.”

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SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA).