Colombo bourse shortens settlement cycle
View(s):The Colombo Stock Exchange (CSE), in consultation with the Securities and Exchange Commission of Sri Lanka (SEC) and industry participants, has announced that the settlement cycle for equity transactions will be reduced from T+3 to T+2 with effect from June 10, 2024 (i.e. trades taking place on and after June 10).
The concept of settlement cycles plays a pivotal role in ensuring smooth and efficient trading processes in the stock market, as it determines when the securities and funds are exchanged between buyers and sellers after a trade takes place, the CSE said in an announcement.
Under the T+3 cycle, fund settlement and security transfer occur on the third market day from the trade date. Transitioning to a T+2 cycle ensures that the securities and funds in relation to all equity transactions will be exchanged between the ultimate buyers and sellers on the second market day from the trade execution date.
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