The new settlement regime, introduced by the Irish Stock Exchange (ISE) on Monday, 6 October 2014, makes settlement 33% quicker and went very smoothly according to Brian Healy, Director of Traded Markets, Development, Operations at the ISE.
"The ISE was part of a Europe wide change to improve the settlement efficiency for investors, market participants and issuers. The market-wide transition happened without a hitch", he said.
“The Irish market has moved to a shorter settlement cycle for equities and Government bonds – known as T+2; the practical effect of this change will be that investors will have their trades in these securities settled quicker - in two days rather than three. It is a real service improvement”, he added.
"This change will benefit companies listed on ISE markets as it provides a harmonised EU settlement regime and further reduces risk, providing more streamlined settlement for European and non-European investors alike”, he concluded.
Additional information on the transition to T+2 settlement in the Irish market