2023-0004 October 31, 2023
STAFF NOTICE TO APPLICANTS, LISTED ISSUERS, SECURITIES LAWYERS AND PARTICIPATING ORGANIZATIONS
Toronto Stock Exchange (“TSX”) is reminding listed issuers that the settlement cycles in the Canadian and U.S. securities industries are being shortened from trade date plus two business days (“T+2”) to trade date plus one business day (“T+1”).
The first day of T+1 trading in the Canadian securities industry will be Monday, May 27, 2024. Since Monday, May 27, 2024 is a U.S. Holiday, the change to the settlement cycle in the U.S. securities industry is expected to be effective Tuesday, May 28, 2024.
TSX is reminding issuers to consider this change in the settlement cycle when setting record dates for dividends next year. A Staff Notice setting out the further details regarding ex-dates for dividends, distributions and other corporate actions as a result of the T+1 settlement cycle will be published closer to the effective date.
If you have any questions about this Staff Notice, please contact your listings manager.