FX automation key to post-T+1 success, say custodians
Custody banks saw uptick in demand for automated FX execution to tackle T+1 challenges.
The lead-up to the US securities settlement transition from T+2 to T+1 was a topic of great debate in 2023 and 2024. Various market participants scrambled to adjust their technology and workflows to cope with the shortening of the settlement cycle. Now, over six months on from the transition, it appears fears about its impact on foreign exchange operations were misplaced.
Custodian banks say asset managers have largely utilized outsourced FX solutions, switching to standing instructions to
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