In Q3 2017, the United States has mandated that any funds traded on their exchanges must become compliant with a Trade Date plus Two Day Settlement (T+2). As this is a legislative change in the United States that affects Canadians, the industry in Canada has requested that the change also be applied.
Unitrax is completely configurable and allows for each client to determine the settlement option on a Fund - T+1, T+2 and T+3.
Through thought partnership we distribute overview documentation on a monthly basis providing industry, regulatory and project updates as well as conduct monthly meetings with our clients to ensure that their business needs are met through a collaborative solution.
L&T Canada’s compliance team also participates in many CCMA, FundSERV, IFIC and CLHIA groups/sub-groups around the T+2 discussions.