Wall Street has transitioned to a T+1 stock settlement cycle, marking the fastest settlement of trades in a century. The U.S. Securities and Exchange Commission (SEC) mandated the change, effective May 28, 2024, requiring broker-dealers and market participants to settle trades within one business day. This shift aims to reduce risk and improve efficiency in the U.S. securities market, particularly highlighted by the GameStop mania. However, it presents unique challenges for exchange-traded funds (ETFs) and market makers, who must adapt to the new timeline. The change, which also affects corporate bond trades, follows the SEC's rule adoption in February 2023 and is expected to benefit investors by taking risk out of the system. While the transition has seen some temporary delays, the Securities Industry and Financial Markets Association (SIFMA) expressed optimism about the progress. Foreign investors are bracing for potential difficulties in securing dollars before the deadline, which could result in failed trades.