ISDA Publishes Equity Derivatives T+2 Settlement Cycle Protocol
LONDON, August 2, 2017 – The International Swaps and Derivatives Association, Inc. (ISDA) has announced the launch of the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol.
The Protocol is designed to help market participants amend the terms of certain equity derivatives transactions to reduce the settlement cycle from three business days (T+3) to two business days (T+2).
This will align market participants with the change in the settlement cycle for most securities transactions in shares that trade on exchanges in the US, Canada, Mexico and Peru, to be introduced on September 5 this year. This process has been driven by market participants to help reduce risk and enhance global settlement harmonization.
Please visit the Protocol Management section of the ISDA website to read the Protocol, updates to the list of adhering firms and a frequently-asked-questions document.
For Press Queries, Please Contact:
Nick Sawyer, ISDA London, +44 203 808 9740, nsawyer@isda.org
Michael Milner-Watt, ISDA London, +44 203 808 9727, mmilner-watt@isda.org
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org
Amanda Leung, ISDA Hong Kong, +852 2200 5911, aleung@isda.org
About ISDA
Since 1985, ISDA has worked to make the global derivatives markets safer and more efficient. Today, ISDA has over 875 member institutions from 68 countries. These members comprise a broad range of derivatives market participants, including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure, such as exchanges, intermediaries, clearing houses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association’s website: www.isda.org.
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
Documents (1) for ISDA Publishes Equity Derivatives T+2 Settlement Cycle Protocol
Latest
ISDA Publishes Updated ISDA SIMM Governance
ISDA has published an updated version of the ISDA SIMM® Governance Framework, which sets out the principles under which the ISDA Standard Initial Margin Model® operates and the process through which it will be reviewed and amended on a consistent...
ISDA Response to PRA IMA Consultation
On September 18, ISDA, the Association for Financial Markets in Europe, the Institute of International Finance and UK Finance submitted a joint response to the UK Prudential Regulation Authority consultation on adjustments to the internal model approach (IMA) for the...
Calibration Test – IQ September 2026
Calibrating capital requirements is a highly complex undertaking and getting it wrong can have serious consequences. Too much lenience might lead to banks holding insufficient capital to mitigate their risks. But excess conservatism can put balance sheets under strain, forcing...
US Treasury Repo Clearing Indicators July 2026
The ISDA-Actrix US Treasury Repo Market Clearing Indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, a key objective of the Securities...