The Securities and Exchange Commission (SEC) has mandated a 5:00 p.m. deadline for the T+1 settlement cycle for all equities and commodities transactions. This directive ensures that trades are fully settled within the Trade plus One day timeframe, aligning with Delivery versus Payment (DvP) standards. While capital market operators must ensure sufficient funding to meet these obligations, the SEC clarified that foreign portfolio investors are exempt from mandatory pre-funding requirements. The transition aims to improve market liquidity and reduce counterparty risk.