The Securities and Exchange Commission (SEC) announced that The Depository Trust Company (DTC) filed a proposed rule change to amend the Settlement Service Guide. This change aims to optimize settlement transactions by removing outdated references to the Night Batch Process and adding more flexibility and clarity to the settlement cycles. The rule change will take effect immediately, and the SEC is inviting public comments on whether the proposal aligns with the Securities Exchange Act of 1934. Comments can be submitted online or by mail until January 29, 2025.
Simple Explanation
Imagine a company wants to make a game better by removing old parts and adding new things to make it more fun and easy to play. The grown-ups in charge of the game are asking everyone if they think these changes are good, and they have until the end of January to share their thoughts.