When the North American securities industry starts settling trades the day after they’re executed in May 2024, it will be the culmination of a process dating back at least 30 years. Shortly after the Securities and Exchange Commission (SEC) cut the trade settlement cycle in 1993 to the third business day following trade execution (T+3)… Read More >>
SS&C Bolsters Tier 1 CRM Platform & Other News
SS&C’s Tier 1 Gains Users & Features The Tier 1 capital markets and investment banking customer relationship management (CRM) platform from SS&C Technologies has been enhanced, has more than 1,000 new end-users, and has the support of more staff members, officials say. The new features “include improved data insights and in-app information delivery,” officials… Read More >>
Firms & Providers Disagree About T+1’s Rewards: Survey
Shorter settlement of U.S. equities transactions from trading day plus two days (T+2) to one day (T+1) will happen within the next five years, according to nearly half of the respondents to a global survey and study conducted by Citi Securities Services. But, beyond that point of agreement, the survey results showed that financial market… Read More >>
No Showstoppers for T+1 Overhaul: ISITC Panel
While no one would mistake the T+1 shorter settlement drama for a joyous Broadway musical, there are not likely to be any showstoppers as the securities industry transitions to a one-day settlement cycle after execution for U.S. equities. But there’s a lot of work ahead. So says a panel of experts assembled by ISITC for… Read More >>
T+1 Update: Feedback Will Determine Time Frame
The push to shorten the U.S. securities settlement cycle from T+2 to T+1 by 2023 is well into the information-gathering stage via private industry workshops that will decide the details of the time frame for the transition, which is expected to be announced during the last quarter of this year. The workshops are also helping… Read More >>
SIFMA, ICI and DTCC Launch T+1 Outreach
The Securities Industry and Financial Markets Association (SIFMA), the Investment Company Institute (ICI), and The Depository Trust & Clearing Corporation (DTCC) are reaching out to financial services firms to gather more information for a new push to shorten the U.S. securities settlement cycle from T+2 to T+1, and they are aiming to complete their information… Read More >>
Momentum is Building for T+1: Q&A
(Editor’s Note: The COVID-19 pandemic impacted many aspects of securities operations and the DTCC just released a white paper, “Managing through a Pandemic: The Impact of COVID-19 on Capital Markets Operations,” that explores how securities operations teams functioned during the worst of the lockdown. The report acknowledges that firms will “further automate” post-trade lifecycles and… Read More >>
Special Report: Coping With the Challenges of Regulatory Reporting
In this special report, FTF News delves into the many challenges that global financial services firms face when they have to meet the multiple, complex and sometimes overwhelming requirements of regulators overseeing major financial markets. As financial reform has taken root since the global financial crisis, regulatory reporting to multiple authorities across many geographies has… Read More >>
LSEG & Boat to Launch Combined Reporting Services
TRADEcho to Hit Early Next Year The London Stock Exchange Group (LSEG) and Boat Services Ltd. will be offering TRADEcho, a combination of the two vendors’ existing and complimentary trade reporting services, officials say. TRADEcho is slated to be available by the first quarter of 2017 and will offer a single trade reporting venue and… Read More >>
Why Aren’t Hedge Funds Already at T+0 Reporting?
(Editor’s note: Scott Price, who has been head of business development and client management for North America for Maitland International Holdings since April, says that fund administrators could be doing more to help hedge funds achieve a shorter time frames for reporting. This includes even those hedge fund firms that lack an IT infrastructure. Price… Read More >>
