The JSE T+3 project goes live
On Monday, July 11th, the Johannesburg Stock Exchange (JSE) will complete its move to a shorter settlement cycle, when all trades conducted on the exchange will be settled on a T+3 cycle.
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This is one of the ways in which the exchange is staying at the forefront of global best practice.
The project has been rolled out in three phases and has taken three years to reach implementation stage. It has been one of the most ambitious initiatives undertaken by the JSE and will bolster the credibility of South Africa as an investment destination. One of the main benefits of the shorter settlement cycle is that the number of unsettled trades will be nearly halved. In addition to lower settlement risk, the shorter cycle will release funds two days earlier and therefore increase the circulation of funds in the market.