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SIA Defers T+1 In Favor of New STP Projects

TRADING FLOOR TECHNOLOGY

    • WatersTechnology Staff

Last week, the Securities Industry Association (SIA) board unanimously approved eliminating the "T+1 by 2005" goal and will instead spend the next two years on key projects such as: straight through processing (STP) of institutional trades; electronic book entry to replace physical securities delivery, and other efficiencies. The STP Steering Committee will be chaired by Jeffrey Bernstein, senior managing director at Bear, Stearns.

Firms can now switch their tight IT budgets to non-T+1 projects

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