Shortening of Settlement Cycle for Stocks and Other Securities (T+2) | Clearing & Settlement | Japan Exchange Group

This page describes the shortening of the settlement cycle for stocks and other securities to T+2. In response to global trends, the Tokyo Stock Exchange, Japan Securities Clearing Corporation, and Japan Securities Dealers Association established a working group in July 2015 to study implementing T+2 settlements in Japan. Following their cross-industry study, T+2 settlement was implemented effective July 16, 2019. Under this system, delivery of shares and securities occurs one business day earlier than previously, with settlement occurring two business days after the trade date.