The transaction date, or T, is the date on which the operation of buying or selling securities is executed. The settlement date is the date on which the transaction is settled, i.e. the securities or funds are officially transferred. Under the new T+1 settlement cycle, all applicable securities transactions from US financial institutions will settle in one business day after their transaction date.

To learn more, click here.

Example

If you execute a transaction on Monday, it will settle on Tuesday (assuming Tuesday is not a holiday).

2. When will the T+1 settlement start?

The new T+1 settlement cycle will take effect from May 28, 2024.

3. Which securities are applicable to the T+1 settlement cycle?

The T+1 settlement cycle will apply to the same types of securities transactions covered by the T+2 settlement cycle. These include stocks, bonds, municipal securities, exchange-traded funds, certain mutual funds, and limited partnerships traded on US exchanges. For the T+1 impacted product scope, click here.

*Note: The T+1 settlement cycle already applies to US stock options.

4. What does this mean for trading?

The new T+1 settlement cycle does not impact your trading. You can still engage in day trade.

5. How does this impact margin interest?

The accrual date for margin interest will transition from two business days after the transaction date (T+2) to one business day after the transaction date.

6. How does this impact withdrawal?

You will have quicker access to your funds with the shortened settlement cycle for US stocks. For Hong Kong stocks, however, the settlement cycle remains T+2, meaning that you can withdraw your funds when they are settled two business days after the transaction date.

7. How does this impact the SmartSave mechanism of Cash Plus?

The new T+1 settlement cycle means a shortened settlement process for US stocks and does not impact the SmartSave mechanism.

8. How does this impact the calculation of buying power?

The new T+1 settlement cycle does not impact the calculation of buying power.

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Overview

1. What is the T+1 settlement cycle?
2. When will the T+1 settlement start?
3. Which securities are applicable to the T+1 settlement cycle?
4. What does this mean for trading?
5. How does this impact margin interest?
6. How does this impact withdrawal?
7. How does this impact the SmartSave mechanism of Cash Plus?
8. How does this impact the calculation of buying power?

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特朗普密集發聲！美股買入時機已到？

5月8日晚，特朗普密集發聲，宣佈與英國達成貿易協議，根據該協議，英國將加快美國商品通過海關程序的速度，並減少農業、化工、能源和工業出口的壁壘。併發言：「現在最好趕快去買股票」。市場異動拉升，比特幣自今年2月以來首次突破10萬美元關口，美股三大指數漲超1%。 Show More

漲跌全看特朗普？美股後市怎麼看？

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Apr 14 07:43

"Leaving the Group - Raising Taxes - Tweeting: The 'Money Making Strategy' of the Most Wild Gemini in Contemporary Times"

It's said that Trump is a walking drama machine, raising tariffs today and praising China tomorrow, making stock investors feel like they are on a roller coaster every day. But if you have seen hisThe Art of Trade, and then take another look at hisGemini horoscope—Wow! This guy's approach is simply the business version of "Empresses in the Palace", with every step marked by the four big characters "I want to make money".
The main core strategy in the book "The Art of Trade" is the combination of business thinking and the art of gaming.
Its core logic can be summarized into the following five dimensions:
1. The underlying logic of "creating momentum" and "the combination of reality and illusion".
The book emphasizes "always let the other party make the first offer" and "exaggerate demand to gain leverage."

This strategy is often seen in tariff policies and trade negotiations.
[Example]
By imposing tariffs on various countries to create pressure, opponents are forced to the negotiation table, and then an agreement is reached through phased concessions.
II. Practical Application of the "Big Negotiation" Strategy

First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"

[Example]
1. In 2018, tariffs were imposed on CN commodities, turning the global stock market into a green wilderness. Just when everyone was about to collapse, he suddenly signed a first-phase agreement and triumphantly tweeted: "No one understands deals better than I do!"

2. On April 2, 2025, ...

US Stock Moving to T+1 Settlement

1. What is the T+1 settlement cycle?