{"id":75265,"date":"2021-11-10T11:29:07","date_gmt":"2021-11-10T16:29:07","guid":{"rendered":"http:\/\/ccma-acmc.ca\/en\/?page_id=75265"},"modified":"2024-10-30T12:14:04","modified_gmt":"2024-10-30T16:14:04","slug":"t1-steering-committee","status":"publish","type":"page","link":"https:\/\/ccma-acmc.ca\/en\/committees-comites\/t1-committees\/t1-steering-committee\/","title":{"rendered":"T+1 Steering Committee"},"content":{"rendered":"

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T+1 Steering Committee (T1SC)<\/strong><\/h1>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”container” padding_top=”” padding_bottom=””][vc_column width=”2\/3″][vc_column_text]Overview<\/strong><\/p>\n

The T+1 Steering Committee (T1SC) has been mandated to co-ordinate an industry-wide effort to shorten the securities settlement cycle from the current two-day period, or T+2, to a one-day period, or T+1. The T1SC identifies legal and regulatory changes, systems, processes and procedural changes, and ensures effective communication and education of the overall Canadian financial services industry.<\/p>\n

The Canadian T+1 initiative is being coordinated in concert with the United States.\u00a0 The joint Canadian-American implementation date is targeted for the first half of 2024.<\/p>\n

Composition<\/strong><\/p>\n

The T1SC membership is open to individuals representing firms and organizations with an interest in the T+1 initiative.\u00a0 These firms and organizations include the buy-side, custodians, sell-side, service providers, industry utilities, self-regulatory organizations, and other regulatory bodies.<\/p>\n

Reporting Structure<\/strong><\/p>\n

The T1SC reports to the CCMA Board of Directors via the Executive Director\/Co-Chair of the T1SC.<\/p>\n

Responsibilities<\/strong><\/p>\n

The T1SC will, or will oversee working groups that will:<\/p>\n