As a result of the Final rule action by the SEC, the standard settlement cycle for most broker-dealer 1Broker-Dealers includes retail, institutional and prime brokerage transactions was changed from T+2 to T+1 in May of 2023.
Due to the close interrelations between the United States, Canada and Mexico, the standard settlement cycle across all three countries have been reduced to T+1 and after May 28 USD/CAD and USD/MXN FX spot transactions now settle T+1.