This report provides a definitive analysis of the proposed shortening of the Japan equities trading settlement cycle to T+2 and the expected opportunities for legacy and ecosystem transformation. The report presents the findings of an exclusive Celent survey of interviews with market participants.

Shortening the settlement cycle has the direct benefit of reducing settlement risk. In addition, the resulting increase in liquidity can also be expected to indirectly contribute to maintaining and strengthening the market’s competitiveness internationally.