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.
Industry experts weigh in as US regulators fail to concede to industry demands for at least September 2024 deadline, with T+1 set to go live in the US on 28 May 2024.
Commissioners disagreed on the proposed implementation date, with amendments narrowly passing by three votes to two.
Decline in equities market were somewhat offset by increases in fails in both the corporate and government bond markets.