Waters' T+1 Conference: Money and Time Needed
MIDDLEWARE AND STP
NEW YORK--According to the Securities Industry Association's business case report, firms will spend $8 billion on the conversion to T+1 and will gain $2.7 billion in annual savings from the effort.
At the first Waters conference on T+1, "Achieving T+1: Closing the Gaps Through Seamless STP," keynote speaker Art Thomas, COO of Merrill Lynch's securities services division and chairman of the T+1 Steering Committee, said T+1 is much more complex than Y2K was. "T+1 is not a renovation but a
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