A study conducted by post-trade specialist Omgeo has found that half of the respondents are not preparing for a shortening of trade settlement cycles, despite an impending legislative requirement in Europe to do so.
Currently, much of the industry operates on a T+3 basis, where trades are settled three days after agreement. Projects such as Target2-Securities (T2S) and regulation such as the Central Securities Depositories (CSD) Regulation in the EU are mandating a move to T+2 across the industry, from custodians and broker-dealers, and therefore the buy side. Many respondents said that it would take at least...
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