NZX proposes move to T+2 from T+3 for cash market trades

Wed, 12 Nov 2014

By Jonathan Underhill Nov. 12 (BusinessDesk) - NZX, the operator of the New Zealand stock exchange, is seeking feedback on a proposal to shorten the settlement time in cash markets by a day, putting it in line with other bourse operators. The proposal is to shorten the trading settlement cycle from trade date plus three business days settlement, or T+3, to trade date plus two business days, or T+2, for cash market trades, the Wellington-based company said in a statement. The change would reduce risk for those involved in settlements an...

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