DTCC Assembles Two Groups for T+2

John Abel, vice president of settlement and asset services at DTCC

The Depository Trust and Clearing Corporation (DTCC), along with the wider financial services industry, has announced the formation of a steering committee (ISC) and working group (IWG) in charge of helping the US move from a T+3 to T+2 settlement cycle.

The fact the DTCC has organized groups made up of industry members to lead the change to T+2, as opposed to implementing the move themselves, speaks to how the regulatory body wants to approach the transition.

"Obviously, the DTCC benefits from

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