SEC cuts settlement time for investors

The settlement period of trading on the twin bourses will be three days instead of four, which will quicken payment in share transactions, an official of the Securities and Exchange Commission said yesterday.
The commission modified the settlement rules on December 27, he said.
The Dhaka Stock Exchange will reduce its trading settlement time, in line with the latest modification of transactions rules, said Shakil Rizvi, president of DSE.
From now, the bourses will follow the so-called T+2 settlement period, which means buyers will receive shares and sellers will get money two days after a trade is made. Earlier, it was T+3.