Tag: DTCC

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.

Goldman Sachs has achieved more than 99% same day affirmation rates and improved settlement rates for transactions utilising DTCC’s Match to Instruct workflow.

Trades processed through the NSCC are on track, with more work to be done around the bilateral settlement segment.

Testing schedule began in August 2023, providing industry players nine months and 21 cycles of testing ahead of scheduled shift to T+1 in May.

Key industry voices from Manulife Investment Management, Duco, CLS, DTCC and Torstone Technology delve into the buzz phrase on everyone’s lips as they look to 2024 – the shift to T+1.

Today marks six months until the US moves settlement times for equities to T+1 and the picture of lingering issues is becoming increasingly clearer.

With fail rates high due to market volatility and penalties pouring in through CSDR, experts are recommending Europe addresses current inefficiencies, or risk complicating matters though a rushed move to T+1.

Individual has previously held various senior positions at Goldman Sachs.

Market infrastructure says 350 investment managers are now leveraging CTM’s automated trade affirmation capabilities, while uptake of Match to Instruct (M2i) workflow with a broker/dealer counterpart has nearly doubled.

Arrangement will allow eligible clearing members to gain increased margin efficiencies between US treasury securities and CME Group interest rate futures, with an expected launch in January 2024.