Case Studies and Engagements

T+1 for Canada

Client Focus: Major Canadian Pension Fund

Challenge

  • In May 2024, the capital market industry, in coordination with regulators in the USA and Canada, plan to shorten the settlement cycle from T+2 to T+1.  Updates are required across settlement and reference data systems within the firms’ settlement ecosystem to align with regulatory guidance in key areas including settlements, allocations, affirmations, trade processing, corporate actions, margin, liquidity, funding, and client data management.

Solution

  • Identified impacted recons with Business SMEs due to T+1 transition.

  • Authored and executed test cases for UAT.

  • Coordinated integration of recons with E2E testing workstream.

  • Assisted SOX control team in documenting process changes for affected SOX controls.

  • Prepared list of traded products affected by T+1 to meet Data Governance requirements.

Impact

  • Enhanced Operational Efficiency.

  • Strengthened Regulatory Compliance.

  • Improved Data Governance

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