Refit proposals present opportunity to reset challenges of CSDR, panel finds
Settlement efficiency, T+1 proposals and mandatory buy-ins to be discussed as part of measures.
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.
Initiative aims to help market participants and their service providers overcome preparatory stumbling blocks.
Though the decision would be driven by regulators, the ASX is engaging with key market players on whether Australia should move to T+1, what would need to change to support the transition and how the move would be co-ordinated with New Zealand.
Solution helps fund managers comply with T+1 settlement requirements.
The technology, designed to improve processing capabilities for users, will connect directly to Hong Kong’s central clearing and settlement system.
Settlement efficiency dropped in 2022, with SDR cash penalties averaging €141.6 million per month for T2S participants.
Among the concerns is the trade-off between market efficiencies and settlement fails, limited upside for the buy-side and the many challenges in the short term burdening the industry for ‘distant benefits’.
Thoughts from across the industry as the countdown to T+1 drops below 12 months.