The Municipal Securities Rulemaking Board (MSRB) recently filed proposed rule amendments with the Securities and Exchange Commission (SEC) to align the settlement cycle for municipal bonds with equities and corporate bonds.
In an emailed statement, the Depository Trust & Clearing Corporation (DTCC) called it “an important step forward as the industry works towards a May 28, 2024 T+1 implementation date.
“In support of this important effort, DTCC continues to partner with industry organizations and market participant firms to promote readiness and a successful T+1 transition.”