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Canadian and US securities markets are moving to T+2 settlement

There are two important dates to remember when you trade securities - the Trade date and the Settlement date. The date your order is executed in the market is referred to as the Trade date, and the date the buyer must pay for a purchase and the seller must deliver the securities is called the Settlement date. Transactions currently settle three business days after the Trade date, which is known as T+3.

As of September 5, 2017, your trades will settle more quickly, changing to two business days after execution, as the industry adopts a shorter settlement period. This means that as a seller of a security, you will receive payment earlier, and as a buyer, you must pay for your trade earlier. This new settlement period is referred to as T+2, and will apply to both Canadian and US securities markets.

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