Prospects Murky for Upgrade to T+2 Settlement

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Chris Pickles, BT Global Services

European market participants may be aware of trade date plus two days (T+2) settlement as an operational requirement that the European Commission could have in place by 2012, and believe they are ready, but they are not, according to participants of an industry roundtable held earlier today. European markets will also have to confront the need to bring foreign exchange (FX) transactions down to T+1 settlement to ensure T+2 settlement of the trades themselves, says John Gubert, chairman of the