DTCC and S&P Global collaborate on joint T+1 solution
The T+1 service aims to support clients impacted by the upcoming T+1 settlement deadline set forth by the US Securities and Exchange Commission (SEC) slated for 28 May 2024.
The T+1 service aims to support clients impacted by the upcoming T+1 settlement deadline set forth by the US Securities and Exchange Commission (SEC) slated for 28 May 2024.
At the FIX EMEA Trading Conference, panellists explored the scheduled shift to T+1 in North America, the impacts it will have on global jurisdictions and whether or not the UK and EU should follow suit.
New service will be delivered on distributed ledger technology (DLT) from Baton Systems and will help increase market-wide access to PvP, addressing FX settlement risk concerns.
“No logical or economic basis for progressive penalties” says one association as others reply to European regulators to point out the damaging unintended consequences of such a system.
The first-of-its-kind benchmark data on the true cost of settlement inefficiency released by Firebrand Research shows some alarming statistics including how much the industry spent at the peak of volatility in 2021.
With the expansion, Euroclear Bank will be able to boost operational efficiencies for market users and streamline collateral management.
Goldman Sachs has achieved more than 99% same day affirmation rates and improved settlement rates for transactions utilising DTCC’s Match to Instruct workflow.
Deal builds on an existing strategic partnership between the pair announced in late 2022 to deliver a sell-side focused post-trade allocation service.
The bank joins as part of LCH’s expansion of its CDSClear service to US credit derivatives participants; the first US buy-side trade has been cleared using the service.
With the industry ‘only as strong as its weakest link’ the market must take an approach of individual responsibility in making the eco-system function optimally, asserts new Liquidnet report.