Financial Industry Successfully Transitions to T+1 Settlement Cycle, Says Gary Gensler

The financial industry has recently transitioned to a T+1 settlement cycle. This change aims to reduce risk and improve efficiency by shortening the time between trade execution and settlement from the previous T+2 cycle. Initial reactions indicate that the transition is progressing smoothly, with industry participants noting the benefits of reduced risk. Gary Gensler provided an update on the transition, and some have observed T+1 in real life. However, there are some concerns about the possibility of reverting back to longer settlement periods if challenges arise.