The CCMA led national industry-wide efforts to reduce the settlement cycle from T+5 to T+3 in 1995, and from T+3 to T+2 in 2017, on the same day as the U.S. in light of Canada’s and the U.S.’s highly inter-related capital markets. After a successful transition, CCMA members completed a T+2 Project – Post-Mortem Report (2018), which provides useful guidance for CCMA Advisory Council members working on the T+1 project.
T+2 resources, prepared by the CCMA directly and with participating firms, industry associations, and other interested parties, provided strategies and materials to help Canadian capital markets participants prepare for the transition to T+2. The four T+2 working group pages also include issue logs that may help interested members. Some of the material prepared as part of the migration from T+3 to T+2 may also be relevant for T+1.