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News
Amendment of the Standard Settlement Cycle for US Securities Market
Dear Valued Customers,
The U.S. Securities and Exchange Commission (SEC) has adopted an amendment to shorten the standard settlement cycle of three business days (T+3) to two business days (T+2) starting from 05-September-2017*.
The amended rule aims to increase efficiency and reduce risk for market participants. The rule would apply T+2 to cash and securities settlement of transactions for stocks, bonds, exchange-traded funds, certain mutual funds and some other products that trade on exchange.
Your trading method will remain unchanged. However, please be reminded that the T+2 settlement cycle will become effective on transactions made on or after 05-September-2017.
You may refer to the notice from SEC for more details: https://www.sec.gov/oiea/investor-alerts-and-bulletins/ibsettlementcycle.
If you have any enquiries regarding this amendment, please contact us on (+852) 22379338 / 400 818 0338 or email csi-callcentre@citics.com.hk.
CITIC Securities Brokerage (HK) Limited
*The continuous trading session will begin at 09:30 am ET 05-Sept-2017, which is equivalent to 09:30 pm HKT 05-Sept-2017.