JSE sets T+3 go-live date
The JSE’s T+3 project, the financial market’s top priority project, will shorten the settlement cycle in the equities market from five days to three days and is on track for delivery on Monday, 11 July.
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The switch- over to a three-day settlement cycle will align South Africa’s capital markets with global best practice and will help in the mitigation of both systemic and settlement risk. The move to T+3 has numerous benefits to the market, including attracting foreign investors by harmonising settlement with international standards and boosting liquidity, as assets will be released from the settlement process more quickly. This multi-year project has been driven by the JSE and has involved extensive contributions from a host of market participants and support from the Financial Services Board.