Factbox-As US moves towards faster stock settlement, where are other countries?

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NEW YORK - The U.S. Securities and Exchange Commission adopted a rule in February 2023 to shorten the settlement cycle for securities transactions from two business days after the trade to one, beginning on Tuesday.

The U.S. is ensuring faster settlement of securities transactions prompted by the 2021 events surrounding the"meme stock" GameStop. The U.S. stepped up faster settlement in 2017, moving from a three-business-day settlement cycle to the existing standard almost four years after the euro zone did so. Financial services experts believe the EU's move to next day settlement will be more complex because of the fragmented nature of stock trading in the region.

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