“Usure”………….“T+2” is actually an ASX transaction settlement...

“Usure”………….“T+2” is actually an ASX transaction settlement ruling now, for ALL brokers to adhere to…………

"A drive for market efficiency and determination to keep Australia at the forefront of global best practice underpins ASX’s move from a T+3 to a T+2 settlement cycle for cash market trades in Australia.

ASX implemented a T+2 settlement cycle on Monday 7 March 2016. The transition to T+2 settlement received strong industry endorsement following broad market consultation in 2014, and in February 2016 industry participants confirmed their readiness for the change.

Shortening the settlement period by one business day creates capital and margin savings for industry, and a faster settlement of transactions for investors. It also lowers systemic risk for the market as a whole by reducing counterparty risk for individual investors, participants and the clearing house.

ASX’s adoption of T+2 Settlement keeps Australia aligned with leading settlement practices around the world, including Hong Kong and Europe, where many countries adopted T+2 Settlement in October 2014. The US financial services industry has proposed a move to T+2 for equities, corporate and municipal bonds, and unit investment trusts trades with a target date of 5 September 2017.

Australian and New Zealand markets aligned for the implementation of T+2 settlement. New Zealand Stock Exchange also adopted a 7 March 2016 implementation date for NZX's cash equity and debt markets. In Australia, the Australian Financial Markets Association (AFMA) also moved to T+2 Settlement for fixed income products on 7 March 2016.

http://www.asx.com.au/services/t2.htm​