ASX Chief Anthony Attia Plans to Accelerate Australia's Move to T+1 Settlement

Australian Securities Exchange CEO Anthony Attia announced plans to accelerate Australia's transition to a one-day (T+1) cash equity settlement cycle. Australian equities have settled on a T+2 basis since 2016, and the ASX had previously targeted a migration between 2029 and 2030 alongside its CHESS clearing system modernization. Attia stated that waiting for the 2029 completion would be too late as global peers advance, noting the US adopted T+1 in May 2024 and European and Hong Kong exchanges plan transitions in 2027. Implementation will require consultations with regulators and market participants.