T+2 settlement

[Gringotts Bank]

http://www.asx.com.au/services/t2.htm

 

[pixel]

http://www.asx.com.au/services/t2.htm

Thanks for the heads-up, GB

As a side effect, that will also impact the gap between ex-div and record dates.
Currently, when a stock shows a record date at "Close on Wednesday", it will trade ex-div from Open Monday morning, a gap of three trading days.
After the move to T+2. ex-div and record day will be only two trading days apart, which means a Record Date Wednesday translates to ex-div being Tuesday.

 

[Craton]

I note that the NYSE/Wall Street settlement period has changed.

Starting May 28, that cycle will take just one business day, or “T+1.”

From what I can tell we are still T+2. So will this change to the above model?

 

[Bellcose]

I note that the NYSE/Wall Street settlement period has changed.


From what I can tell we are still T+2. So will this change to the above model?

Aiming for later this year I believe. However, given to total disaster with the CHESS replacement don't hold your breath.

https://www.asx.com.au/content/dam/asx/markets/clearing-and-settlement-services/chess-replacement-consultation-paper-on-staged-implementation-approach-andimplementation-of-release-1-clearing-services.pdf

Some in the industry consider the ASX should be aiming for T+0.

T+1 settlement an 'unstoppable force' Australia needs to adopt, or risk falling behind

The frictionless movement of assets is becoming a common feature of markets around the developed world, yet Australia remains a step behind. The ASX is in no mood to rush the move to T+1, however, after its calamitous attempt to implement distributed ledger technology.

insideadviser.com.au

 

[Craton]

Cheers @Bellcose
After reading this by Patrick McConnell on the CHESS debacle, T+1 let alone T+0 seem like unobtainium

 

[divs4ever]

a train wreck coming , after some memorable moments in my 12 years of investing

it all sounds until .... splat !!

imagine trying to unwind broken trades the same day ( some have a hard enough time emailing confirmation notes the same day )

( nor to mention money-laundering checks )