Critical conversations between front- and back-office teams about the impact of the United Kingdom’s (U.K.) and the European Union’s (E.U.) transition to a T+1 settlement cycle are not happening, according to industry sources. European, U.K., and Swiss firms are beavering away on their transition to a shorter, T+1 settlement cycle by Oct. 11, 2027. While… Read More >>
T+1 Hit Home Harder Than Expected
A new survey from Citi Securities Services is lifting the lid on the widespread ramifications of North America’s recent shift to T+1 settlement, with effects rippling across the entire trade lifecycle. While the DTCC, brokers, and custodians have remained relatively quiet since the May transition, Citi’s Securities Services Evolution 2024 survey shows that 44 percent… Read More >>
Europe’s T+1 Lag Could Spur Global Settlement Disarray
The impending switch to T+1 settlement in North America scheduled for May 28, 2024, has raised concerns in Europe, where market participants report a lack of international testing. Although not officially moving to T+1 just yet, Europe launched its T+1 taskforce led by the Association for Financial Markets in Europe (AFME) in March last year. In early conversations… Read More >>
