Letter from UK Accelerated Settlement Taskforce chair says lessons need to be learned from the US move in May, with final report delayed to Q1, as previously revealed by The TRADE's sister publication Global Custodian.
Participants across TD Cowen, RBC Capital Markets, and Substantive Research dive into potential shifts in bundling rules for research in 2024 as well as the impacts of the US shift to T+1 settlement.
Progressive penalties would increase with the length of the settlement fail as EU watchdog seeks industry input.
The watchdog's consultation period closes today; T0 has come under fire from AFME which called it an 'unrealistic and undesirable' near term objective.
The National Association of Private Fund Managers (NAPFM), Managed Funds Association (MFA), and Alternative Investment Management Association (AIMA) claim that the changes have not sufficiently considered the interconnectedness of the rules.
Overhaul of the $26 trillion market is designed to reduce the risks faced by a clearing agency and incentivise additional central clearing.
The three venues made reference to “various developments” across the market over recent months which led to the breakdown of the partnership.
In a recent panel, market experts assessed proposals in both jurisdictions, the impact on businesses, and the need for uniformity to benefit the research industry at large.
Currently “most” firms have not gotten into the habit of regular reviews and subsequent adjustments to their liquid asset levels in line with external market changes, said the regulator.
Liquidity is continuing to shift away from continuous lit trading as traders increasing seek flexibility, SIX Swiss Exchange finds in new research.