SIA delays T+1 deadline
OPERATIONS AND STP
NEWYORK -- The Securities Industry Association (SIA) announced on July 18 that it was delaying the 2005 T+1 deadline indefinitely, the third time the migration has been delayed from the original 2002 deadline. The US-based group will not set a new deadline until 2004. Instead, the SIA suggests the association and the industry focus on STP.
Marilyn Ladner, first vice-president at Canada-based Mellon Global Securities, says her company had been expecting the delay for some time. She says there are
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