The move will enable its institutional investor clients to invest in a wider variety of short-end investment products that they would not previously had access too.
The exercise between Credit Suisse and Nomura's Instinet demonstrated the ability for firms to execute and settle US equities trades conducted throughout the day.
The landmark figure is part of an industry effort to significantly improve securities settlement efficiency rates ahead of the Settle Discipline Regime (SDR).
A new white paper highlights the benefits of moving to a T+1 settlement cycle and details plans to achieve this in two years.
The comments were made before the US House of Representatives’ Committee of Financial Services, which discussed the increased volatility from retail traders in January.
Following the launch of Project Ion to explore the possibility of a T+0 settlement cycle, its research found the initiative is currently not applicable to the market.
For asset managers that seek to use a third-party vendor to manage their CSDR compliance, time is running out to finalise those relationships.
Set to launch in Q3 2021, the DTCC SFT clearing service would offer both direct access and a sponsored membership model to buy-side firms.
Regulators seek to minimise the potentially wide-spread impact of Brexit on Europe’s capital markets.
HKEX will use DAML-developed smart contracts and has partnered with DTCC to streamline and automate Northbound Stock Connect post-trade processes.