Time zone disparities biggest concern for Australian investors as ASX considers T+1 transition
The Australia Securities Exchange (ASX) calls for industry feedback on a switch to T+1, with a summary to be published in August 2024.
The Australia Securities Exchange (ASX) calls for industry feedback on a switch to T+1, with a summary to be published in August 2024.
DTCC urges organisations to accelerate their preparations and readiness ahead of the switch next month.
Mexico will transition to T+1 settlement at the end of May 2024, coinciding with the SEC's move to T+1 in the US.
Sumitomo Mitsui Trust is the first Japanese asset manager to adopt the ITP services through Nomura Research Institute’s (NRI) SmartBridge Advance – a collaborative offering built in partnership by DTCC and NRI.
Members of the multi-currency settlement system claim that development to accommodate a move in the initial pay-in schedule could take “considerable time to implement”, therefore CLS will not shift its cut-off but will analyse T+1 impact in June and September following cycle shortening.
Following the reveal of the UK’s T+1 plans, European task force says alignment of dates across the continent will reduce the complexity of implementation projects for firms active across multiple jurisdictions.
This initiative is the outcome of collaborative efforts between Clearstream, the Nasdaq Baltic exchanges, and Nasdaq CSD.
The notable rise in both value and volume settlement efficiency rates throughout 2023 indicted that the penalties outlined in the Central Securities Depositories Regulation (CSDR) are proving effective.
Taskforce states that the UK, EU and other European jurisdictions should align on T+1 with a regional timeframe possibly overriding these recommendations.
DTCC encourages market participants to “ramp up their preparations and testing” and encourages continued collaboration between investment managers and their custodians.