SPDR Gold Trust amends agreements for shorter T+1 settlement cycle effective May 28, 2024
SPDR Gold Trust (GLD) amended its trust indenture and bullion account and participant agreements, effective May 28, 2024, to match the SEC's move to a one-business-day settlement cycle (T+1) for most broker-dealer securities transactions. The changes cover how authorized participants create and redeem shares, and the filing is administrative in nature.
- SEC adopted rules on February 15, 2023 to move standard settlement from T+2 to T+1, effective May 28, 2024.
- Amendments to the Trust Indenture, HSBC allocated and unallocated bullion account agreements, and participant agreements took effect May 28, 2024.
- Updated agreements include Amendment No. 10 to the Trust Indenture and Amendment No. 7 to the Participant Agreements, filed as exhibits.