The failure rate of US stock settlement under the T+1 settlement system is starting to rise! However, the Chairman of the US Securities and Exchange Commission stated that "the reform is progressing smoothly". According to data released by the Depository Trust and Clearing Corporation of the United States on Friday, the transaction confirmation rate on Thursday slightly increased from 94.55% the previous day to 94.66%. However, the failure rate of transaction settlement began to rise above average on Thursday. The data shows that the failure settlement rate on Thursday was 2.71%, while the average failure settlement rate in the first two days was 1.90%. Although the settlement failure rate began to rise on the third day under the new settlement system, Gary Gensler, Chairman of the US Securities and Exchange Commission, stated that he believes the reform of the US securities settlement cycle is progressing smoothly. "The historic transition from T+2 to T+1 has progressed smoothly so far," Gary Jansler said in an email statement.