Clearing and settlement
‘Very careful thought’: T+1 will introduce costs, complexities for ETF traders
When the US moves to T+1 at the end of May 2024, firms trading ETFs will need to automate their workflows as much as possible to avoid "settlement misalignment" and additional costs.
How GenAI could improve T+1 settlement
As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.
As T+1 looms, non-US firms consider out-of-hours trading
Pruned settlement cycle forces foreign buy-siders to explore automating the FX leg of securities trades.
ASX CHESS replacement to be delivered in phases, with clearing first in 2026
The Australian Securities Exchange announced in November it had chosen Tata Consulting Services to run the new CHESS replacement project after initial plans with Digital Asset were scrapped in 2022.
Ticking clock: Firms in Asia face unique T+1 challenges
Firms in Asia worry about unintended consequences of massive change to settlement cycle.
Citi details API for HKEX’s Synapse
New pieces of technology, like Synapse, assist Citi in migrating clients to newer technologies, and newer ways to settle and clear more efficiently.
Waters Wrap: A glimpse of 2024 through the looking glass of 2023
Anthony examines some of the biggest stories from the past year to preview what might be ahead.
One step forward, two steps back—European regulation grapples with the same old problems
Stop me if you've heard this one before...
Managing the FX challenge for T+1
As firms prepare for T+1 in May 2024, DTCC’s Val Wotton says they should also consider the complexities for cross-border trades.
Waters Wrap: Examining ASX’s CHESS do-over
The Australian exchange was the first exchange to be all-in on DLT—and the project failed. Anthony speaks with ASX’s Tim Whiteley to discuss the lessons learned and why he thinks the second attempt will succeed.
Settlement ‘instructions’: Firms look to US for guidance as Europe braces for T+1
Operations professionals in Europe look across the pond for lessons in managing shorter settlement cycles.
Crypto ECNs aim to offer alternative to Clobs
CrossX and Cypator bring ECN-style trading and settlement to crypto, but rivals claim infrastructure isn’t ready
Waters Wrap: ICE, Nasdaq and differing views about cloud
As exchanges continue to embrace cloud, the decisions they make today will have long-lasting implications.
Outsourced trading sees uptick as buy side seeks more bang for its buck
Buy-side firms see outsourced trading as a way to simplify their operating model, while custodians see an opportunity to sell bundled services.
This Week: Europe’s Mifir review, MarketAxess, FIA, and more
A summary of the latest financial technology news.
Waters Wavelength Podcast: Broadridge’s Tyler Derr
Broadridge’s CTO Tyler Derr joins the podcast to talk about interoperability, blockchain, and other emerging tech.
Waters Wrap: Blockchain—let’s put the hammer back in the box
With the ASX Chess DLT failure and users ignoring DTCC’s DLT option for its Trade Information Warehouse, Anthony wonders what it will take for the industry to stop touting this buzzword for non-specialized needs.
Ice exec rejects cloud for critical infrastructure
FIA Boca 2023: SVP Bland “can’t imagine” outsourcing critical infrastructure; DRW’s Wilson warns of concentration risk
DTCC’s blockchain for CDS trades finds no takers
Sources say the industry is not yet ready to fully adopt wide-scale implementations of distributed-ledger technologies.
A rough race begins: Industry faces uphill transition to T+1 settlement
With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue…
AI proves helpful for banks facing new cash penalties for settlement failures
According to one report, banks have been hit with penalties of up to €5 million per month under new CSDR settlement rules. As a result, banks are turning to AI to help.