Settlement

Determining the root cause of fails and extracting accurate data cited as the two biggest concerns for managers in new Gresham Technologies report.

Over 90% of participants in a research study see increased risk of trade failures, penalties, and market inefficiencies. 

As a member of the UK’s T+1 settlement taskforce, Pardeep Cassells, head of securities and claims products at AccessFintech, discusses the UK’s next steps versus Europe’s pace, why she’s surprised by the industry’s reaction to the SEC announcement and what lessons we can learn from India’s transition.

Enthusiasm for moving to T+1 was thin on the ground at a gathering of African securities market practitioners. 

Testing will begin in August this year as DTCC faces up to the uphill challenge both it and the industry faces in preparing for a shortened settlement cycle. 

With the US set to shift to T+1 settlements in May next year, panellists at a front-office event in London discussed the impact on international markets and whether the UK and EU should follow suit.

ValueExchange research, in collaboration with DTCC and the CDS, highlights significant shortcomings in the preparations for a switch to T+1 in 2024.  

Association will consider a decision to follow the US in implementing a shortened settlement cycle, and a timeframe for a potential switch.  

Following some miscommunication around potentially split transition dates, the CCMA confirms to Global Custodian the Canadian market will move to the shortened settlement cycle on the same day as the US.  

Canadian regulator places “high importance” on transitioning on the same day as the US.