T+1 Settlement Efforts: Canadian Outlook and Considerations

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April 2023

Canadian financial services members have been involved in discussions of a reduced settlement cycle with U.S. counterparts since early last year. U.S. industry leads have now formally announced efforts to accelerate the securities settlement cycle to T+1 from T+2.

CIBC Mellon is playing an active role in the readiness and consultations taking place across the industry leading up to the T+1 implementation.

On top of creating a project team to assess the operational impacts of T+1, CIBC Mellon employees actively participate in various T+1 working groups with key industry stakeholders in order to stay at the forefront of regulatory and industry changes.

In establishing a comprehensive team of knowledgeable professionals, we can not only ensure our readiness but ensure we are supporting clients through this transition by means of providing localized insights.

For more information, read our paper.

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Contributors

Lou Lesnika

Lou Lesnika

Director, Product Management, CIBC Mellon




This article is provided for general information purposes only and CIBC Mellon and its affiliates make no representations or warranties as to its accuracy or completeness, nor do any of them take any responsibility for third parties to which reference may be made. This article should not be regarded as legal, accounting, investment, financial or other professional advice nor is it intended for such use.

About CIBC Mellon

CIBC Mellon is celebrating 30 years of helping Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon Corporation (BNY) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon delivers investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada.

As at June 30, 2026, CIBC Mellon had more than C$3.6 trillion in assets under custody and/or administration. CIBC Mellon is part of the BNY network, which as at June 30, 2026 had US$62.6 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY trade-marks, and is the corporate brand of CIBC Mellon Trust Company.