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Shortening of Settlement Cycle for Stocks and Other Securities (T+2)

In response to the trend on shortening the settlement cycle for stocks and other securities in major overseas countries, Tokyo Stock Exchange, Japan Securities Clearing Corporation, and Japan Securities Dealers Association formed the Working Group on Shortening the Settlement Cycle for Stocks and Other Securities in July 2015, and facilitated a cross-industry study for implementing a T+2 settlement cycle in the Japanese market.

As a result of the study, it was decided to implement T+2 settlements effective July 16, 2019 (Tues.) (for executed trades), which means the date of delivery of shares and other securities occurs one business day earlier from the date of transaction than previously, and delivery is made two business days after the trade date.

(note)
  • ･Please also refer to the website of the Japan Securities Dealers Association (JSDA) for details of the study on the shift to T+2 settlement.
Japan Securities Dealers Association Websiteicon-block