State Agency Style STP
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As the T+1 deadline gets pushed back, CalPERS isn’t changing its pace.
It can’t: it has a lengthy state agency bidding process to factor into the equation.
According to current deadlines, when all is said and done, the quick-paced securities industry will have taken five years to make the transition to a trade-date-plus-one settlement cycle, starting from the time the Securities Industry Association’s T+1 business plan was first published in June 2000.
Now imagine if the entire industry had to
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