Japan sets date for T+2 Implementation 30 May 2018Japan Reporter: Maddie Saghir
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The working group on Shortening Stock Settlement Cycle (WG) has confirmed that Japan will move its settlement cycle of T+2 to next year on 16 July.
Japan Securities Clearing Corporation, Tokyo Stock Exchange, and Japan Securities Dealers Association will act as WG’s secretariat.
The project has been three years in the making, and the WG has worked on the realisation of the shortening stock settlement cycle in Japan.
On 30 June 2016, the WG published the ‘Final Report of the Working Group on shortening Stock Settlement Cycle in the Japanese Market’, which included results of the discussions at WG.
Through the deliberation at the council on securities delivery and clearing/settlement systems reform, which is the upper body of the WG, it was decided that scheduled implement date of the T+2 settlement cycle will be next year, on a trade date basis.
The WG will continue to work on necessary preparations for a smooth transition to the T+2 stock settlement cycle.
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