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.
Halloween may be over, but a new threat has operations managers at European financial firms spooked. With six months until US and Canadian markets are due to make the switch to T+1 settlement, the specter of settlement compression is now knocking on Europe’s door.
The European Securities and Markets Authority (Esma) has published a call for evidence with the stated intention of assessing “the costs and benefits of a possible reduction of the settlement cycle in the European Union.” The timeframe
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