SIFMA, ICI and DTCC reprise their roles from the mid-2010s in shortening the US securities settlement cycle, this time to T+1.
Market participants will be conscious of European settlement rates with incoming regulation on the horizon which penalises fails.
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.
The resurgence in short selling and increased performance among hedge funds could pave the way for a profitable year for securities lending desks of banks.
BestX will provide equities TCA via its platform as State Street looks to provide multi-asset analytics to clients.
Migration to LSEG’s clearing and risk technology platform Millennium will reduce end of processing time for market participants.
In launching the service, the platform will allow for the simultaneous exchange of cash and securities between broker-dealers to settle US listed-equities trades.
Citi merged its equities, prime brokerage and securities services businesses into one unit in July, with an aim to capture greater market share.
Citi aims to capture increased business from existing and prospective hedge fund clients by offering a full coverage of pre- and post-trade services.
Credit Suisse will bring its post-trade processes back in-house through its partnership with Torstone Technology.