Based on the two exclusive Celent survey results, this report examines the challenges and strategies the move to shorter settlement cycles for JBG T+1 and Japan Equities T+2 will pose to market participants in Japan.

Market participant initiatives are reaching a crucial stage.

1. The majority of market participants are vigilantly gauging the potential effect of changes to securities settlement.
2. It would be a stretch to say that all market participants are armed with sufficient knowledge and experience when it comes to the new system.
3. Market participants expect to see even greater changes moving forward and to utilize global best practices and promote global operations.