Clearing and settlement
Paxos files to become SEC-registered clearing agency
The application comes after the blockchain infrastructure company completed a pilot in 2021 to test its settlement service.
A network of Cusip workarounds keeps the retirement industry humming
Restrictive data licenses—the subject of an ongoing antitrust case against Cusip Global Services—are felt keenly in the retirement space, where an amalgam of identifiers meant to ensure licensing compliance create headaches for investment advisers and…
Waters Wavelength Ep. 321: AccessFintech’s Par Cassells
This week, Par Cassells joins Nyela to discuss shorter settlement cycles and the role of vendors in the transition.
Momentum is building for 24/5 trading. What does it mean for the future?
Stakeholders and industry bodies have progressed on some looming questions about overnight trading. Nyela examines what that and shortening settlement cycles means.
The European T+1 effect on Asia
T+1 is coming in Europe, and Asian firms should assess impacts and begin preparations now, says the DTCC’s Val Wotton.
Experts say HKEX’s plan for T+1 in 2025 is ‘sensible’
The exchange will continue providing core post-trade processing through CCASS but will engage with market participants on the service’s future as HKEX rolls out new OCP features.
No, no, no, and no: Overnight trading fails in SIP votes
The CTA and UTP operating committees voted yesterday on proposals from US exchanges to expand their trading hours and could not reach unanimous consensus.
Jump Trading CIO: 24/7 trading ‘inevitable’
Execs from Jump, JP Morgan, Goldman Sachs, and the DTCC say round-the-clock trading—whether five or seven days a week—is the future, but tech and data hurdles still exist.
JP Morgan, Eurex push for DLT-driven collateral management
The high-stakes project could be a litmus test for the use of blockchain technology in the capital markets.
Nasdaq leads push to reform options regulatory fee
A proposed rule change would pare costs for traders, raise them for banks, and defund smaller venues.
Is overnight equities trading a fad or the future?
Competition is heating up in US equity markets as more venues look to provide trading from twilight to dawn. But overnight trading has skeptics, and there are technical considerations to address.
DTCC revamps data distribution, collection efforts with cloud, AI
The US clearinghouse is evaluating the possibilities that cloud and AI offer to streamline the processes by which it collects and makes data available to market participants.
Waters Wavelength Ep. 301: SIX’s Javier Hernani
Javier Hernani, head of securities services at SIX, joins to discuss everything T+1.
FX automation key to post-T+1 success, say custodians
Custody banks saw uptick in demand for automated FX execution to tackle T+1 challenges.
Does TP Icap-AWS deal signal the next stage in financial cloud migration?
The IMD Wrap: Amazon’s deal with TP Icap could have been a simple renewal. Instead, it’s the stepping stone towards cloudifying other marketplace operators—and their clients.
Can the EU and UK reach T+1 together?
Prompted by the North American migration, both jurisdictions are drawing up guidelines for reaching next-day settlement.
Clearing houses fear being classified as DORA third parties
As the 2025 deadline looms, CCP and exchange members are seeking risk information that’s usually deemed confidential.
T+1 shift sees out-of-hours human resourcing costs spike by as much as 20%
New research finds that trading firms are experiencing increased labor costs—which could be a boon for outsourced trading.
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this…
CME: CFTC OKs clearing move to Google Cloud
The CFTC has given the Chicago-based exchange approval to run its clearing and settlement infrastructure on the Google Cloud Platform, while the exchange and vendor have extended their partnership to last until at least 2037.
EU firms press for faster move to T+1 after smooth US rollout
Following the example set by North America, 70% of attendees at a European hearing on shorter settlement cycles favored a Q4 2027 switch to next-day settlement.