Tokyo Stock Exchange, Osaka Exchange, Nagoya Stock Exchange, Fukuoka Stock Exchange, Sapporo Securities Exchange, SBI Japannext And Chi-X Japan: Revisions To Trading Rules In Connection With Shortening Of Stock Settlement Cycle

Tokyo Stock Exchange, Inc., Osaka Exchange, Inc., Nagoya Stock Exchange, Inc., Fukuoka Stock Exchange, Sapporo Securities Exchange, SBI Japannext Co., Ltd., and Chi-X Japan Limited have decided to shorten the stock trading settlement cycle from T+3 to T+2. This decision was made in recognition of the urgency and importance of realizing a secure and efficient securities settlement system for enhancing the international competitiveness of Japan’s securities market.
 

This decision is based on the "Final Report of the Working Group on Shortening Stock Settlement Cycle in the Japanese Market" published in June 2016 by said working group, which examined how to shorten the stock settlement cycle in the Japanese market toward T+2.