Foreign banks warn Korea is rushing T+1 shift

South Korea’s plan to shorten its stock settlement cycle to T+1 is drawing warnings from global investment banks, which say the proposed eight- to nine-month preparation period is too short for an overhaul that typically requires at least 18 months. T+1 requires stock trades to be settled one business day after execution, compared with Korea’s current T+2 system. The Financial Services Commission is consulting foreign investment banks on issues including foreign exchange transactions, settlement

By The Korea Herald