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T+1 Goes Live in Canada

May 2024

T + 1

Reducing the Standard Settlement Period for Canadian Capital Markets to 1 day after the transaction.
Canadian Capital Markets Association (CCMA)
A Collaborative Transition

The Canadian Capital Markets Association (CCMA) is coordinating the Canadian financial market’s move to the T+1 settlement cycle. The CCMA’s several industry working groups are working to identify the specific requirements for the Canadian financial industry. CDS is collaborating with the CCMA as part of these working groups.


The current settlement period for securities trades in North America is transaction date (T) plus two business days, commonly referred to as T+2. North American Capital Markets industry players, including TMX CDS have agreed to move to a T+1 settlement cycle to better serve market participants.

For Test Participants

Access the latest documents and information as a test participant of T+1.


Aligned Settlement Period with U.S. Markets
Reduction of Counterparty, Market, and Liquidity Risks
Increased Automation of Operational Processes across Organizations
Learn More

A detailed overview of our upcoming transition to T+1 and why it’s important. Revised: August 2023


A look at our measured approach to transitioning to T+1.


A landmark initiative for our capital markets ecosystem and a major undertaking for stakeholders across the industry.

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Questions related to T+1?