Hong Kong is known for its speed. Now it is set to move even faster, with plans to shorten stock settlement times from next year – a shift that could strengthen its standing as an international financial centre.The city’s stock market has operated on a T+2 settlement cycle for more than three decades, meaning trades are completed two days after they are executed.That may soon change.Hong Kong Exchanges and Clearing (HKEX) is consulting the market on a proposal to move to a T+1 cycle, under which trades would be settled the next day. The consultation runs until May 18, with implementation targeted for the fourth quarter of next year.The proposal forms part of a broader push to modernise Hong Kong’s market structure, alongside listing reforms and changes to board lot sizes, as the city seeks to reinforce its role as a global financial hub.Here is what the proposed shift could mean for brokers, investors and the wider market.