Australian markets are holding to a   March start date for a shift to a shortened two-day trading settlement cycle for equities and debt, as the industry looks to have overcome some early lethargy. 
Stockbrokers and other firms are ramping up preparations for the transition from a three-day to a two-day cycle, which is exacerbated by Australia's time zone relative to larger markets.
The   March 7 change - barring any unforseen hiccups - will occur concurrently across cash equities, debt instruments, and the ASX, Chi-X, APX exchanges and the New Zealand Exchange. The two-day cycle is referred to as T+2.
An ASX   October poll found that 92 per cent of respondents were reporting that their T+2 project was proceeding to plan, while 3.2 per cent answered they weren't meeting their plan and 1.6 per cent were yet to start.

 The same poll found that more than 24 per cent of respondents planned to remove cheques from client funding to support the T+2 transition.
The results showed an improvement in preparedness, as an earlier ASX poll in   June found that 24 per cent of respondents were yet to set up a project team.
"That so many things are happening at the same time, it is really around the planning," said Matthew Chan, head of DTCC's Omgeo business strategy. DTCC is the Depository Trust & Clearing Corporation, a US clearing and technology group.
He noted the importance of T+2 projects including communicating with fund managers, custodians, and retail clients, was made more challenging by having the one start date across products and markets.

Australia 'still ahead of the pack'
But as more efficient and cost effective trading structures were being adopted around the world, Mr Chan noted that Australia was still "ahead of the pack" in the Asia Pacific region.
The local industry's move comes after a shift by Europe last year to a two-day settlement cycle. In Asia Pacific, Hong Kong is already at T+2, Singapore is mulling a timeframe for transition and Japan's changeover - in stages - will likely happen well after a slated move by the US in 2017.

 The Reserve Bank of Australia has been involved in the local changeover.
ASX's senior post trade services manager Rodd Kingham said   November marked the official start of a testing phase for firms on the T+2 transition.
ASX's Karen Webb said CHESS statements would begin to inform investors of the change and broking firms were also preparing to widely communicate with clients.