Clearing & settlement
Repo tokens won’t be cleared. Or will they?
Uncertainty lingers over clearing status of tokenized Treasuries, with decision likely devolved to DTCC.
The first overnight trading puzzle pieces fall into place
The Waters Wrap: The NSCC moved to 24x5 clearing hours last week. What comes next is worth paying attention to, Nyela writes.
Is a 2027 T+1 move too soon for Hong Kong?
The Waters Wrap: Wei-Shen examines HKEx’s discussion paper on moving to T+1 in Q4 2027. A move so soon has its benefits but still requires careful consideration, she says.
T+1 in Asia-Pacific: Preparing post-trade operations for what’s ahead
There are benefits of Asia-Pacific markets moving to T+1, but there are unique complexities to tackle, says DTCC’s Val Wotton.
Esma won’t soften regulatory expectations for cloud and AI
CCP supervisory chair signals heightened scrutiny of third-party risk and operational resilience.
24X files for exemption from SIP rule to take part in overnight trading
The exchange, which began operating in mid-October last year, plans to offer the overnight session in the second half of 2026.
Pressure mounts on Asia to fall in line for T+1
With the US already on a T+1 settlement cycle, and the UK and EU preparing for the shift in 2027, there’s pressure for Asia to follow suit. But moving may involve more risks than expected.
Chicago datacenter outage forced clearers to turn away clients
Friday’s cooling system failure highlights cracks in tech and concentration risk of big CCPs.
Technology alone is not enough for Europe’s T+1 push
Testing will be a key component of a successful implementation. However, the respective taskforces have yet to release more details on the testing schedules.
Row breaks out over cause of FX settlement fails
One European bank blames T+1 for a 50% jump in FX fails, but industry groups dispute the claims.
Citi gears up for EU T+1 climb
The bank has a dedicated team examining what it needs to do to ensure a successful transition to T+1 in Europe.
Is 2027 the new 24-hour trading target?
Slew of technical issues and dearth of SEC staff compound exchanges’ reluctance for round-the-clock equity trading.
SS&C withdraws SEC application for clearing exemption
The fintech had been granted exemption in 2015 for SSCNet, a global trade network, that allowed it to provide matching and ETC services.
T+1 for Europe: Crying wolf or real concerns?
Brown Brothers Harriman’s Adrian Whelan asks how prepared the investment industry is for the changes ahead, and if concerns about its implementation are justified.
Asic probe piles pressure on ASX to deliver Chess replacement
But market insiders think late intervention by regulators could even slow down implementation.
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.
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.
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.
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.