Fifty Percent Not Preparing for T+2, Says Omgeo Survey

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Omgeo says that timely receipt of trade details is essential for implementing a T+2 settlement cycle.

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 a year to move to a T+2 model from T+3, with a sizeable proportion saying it may take longer.

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Waters Wrap: The tough climb for startups

Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.

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