New York Stock Exchange to implement single-day settlements

From tonight, our timeshare trades on the New York Stock Exchange will settle in a single day, and Canada's and Mexico's exchanges are on the cusp of doing the same. India has already moved to a one-day settlement process. A month ago, the ASX published a working paper on moving to T+1 from its current two-day settlement period, but the failure to replace the ageing CHESS system has caused complications. The ASX conceded if it goes head-along to a T+1 system, it will divert resources away from the CHESS replacement project, potentially creating disruption and technological challenges.