March 22, 2017 / 2:22 PM / 6 months ago

US SEC votes to shorten securities settlement time to two days

WASHINGTON, March 22 (Reuters) - The U.S. Securities and Exchange Commission voted unanimously on Wednesday to shorten the amount of time it takes for stock and bond trades to settle, from three business days down to two business days.

The final rule, which has wide support from Wall Street, is slated to take effect in early September. (Reporting by Sarah N. Lynch; Editing by Chizu Nomiyama)

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