EU sees notable decline in settlement fails over last 12 months
Data from ESMA reveals settlement efficiency in the equities market saw a significant improvement, while fails in the bond markets saw a marginal increase.
Data from ESMA reveals settlement efficiency in the equities market saw a significant improvement, while fails in the bond markets saw a marginal increase.
Citi’s APAC head of custody, Aditya Sharma, discusses the implications of the US move to T+1 in Asia, and the lessons learnt from India’s switch.
Research reveals an emerging consensus on how best to prepare for accelerated settlement.
Key phase of preparation for T+1 begins next week as experts say testing will reveal the cracks; meanwhile DTCC has highlighted the need for a comprehensive and well-coordinated industry test to confirm readiness and ensure a successful implementation.
May 2024 deadline means much existing technology will need to hold in the interim.
Europe and Asia Pacific firms are honing their focus in recent months amid mounting pressure surrounding the shift to T+1 in North America.
Project will see three global custodians, five global capital markets firms and 25 investment managers trial the platform ahead of a market-wide launch next year.
Settlement efficiency, T+1 proposals and mandatory buy-ins to be discussed as part of measures.
European market should focus on improving settlement efficiency before considering a switch to T+1, ECSDA spokesperson says.
The asset servicer now handles all Kepler’s clearing and settlement, custody, reporting services for corporate brokerage, and securities lending.