The Chief Executive Officer of the Colombo Stock Exchange Mr. Rajeeva Bandaranaike says that steps have been taken to revise the T+3 method which has been followed so far for settlement of Colombo Stock Exchange transactions from the 10th of June 2024.

In a statement, he said that the T+3 system will be shortened with effect from 10th June 2024.

T+3 is the settlement of an equity transaction on the third day from the transaction date.

According to this new notification, the procedure will be reduced to 2 market days from the date of transaction.

Accordingly, the trades executed on 10th June 2024 will be settled on 12th June 2024. Further, the trades executed on 7th June 2024 will also be settled on 12th June 2024 (based on the T+3 settlement cycle).

This amendment applies to all equity transactions.