European firms prime for lopsided settlement in North America and at home
With T+1 imminent in North America and increasingly likely to traverse the Atlantic, operations and trading professionals in Europe are fighting on two fronts.
T+1 may seem like a new frontier, but the idea of settling transactions the day after a trade dates back 100 years. The New York Stock Exchange settled trades on T+1 as early as the 1920s, before backlogs of paperwork forced it to extend settlement cycles to T+5. Now, with the benefit of 21st century technology, the US—along with Canada and Mexico—is having another go. And public authorities in Europe and the UK are discussing how to follow North America’s lead.
For firms with European operations
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