Clearing and settlement
Experts say HKEX’s plan for T+1 in 2025 is ‘sensible’
The exchange will continue providing core post-trade processing through CCASS but will engage with market participants on the service’s future as HKEX rolls out new OCP features.
Nasdaq leads push to reform options regulatory fee
A proposed rule change would pare costs for traders, raise them for banks, and defund smaller venues.
Is overnight equities trading a fad or the future?
Competition is heating up in US equity markets as more venues look to provide trading from twilight to dawn. But overnight trading has skeptics, and there are technical considerations to address.
DTCC revamps data distribution, collection efforts with cloud, AI
The US clearinghouse is evaluating the possibilities that cloud and AI offer to streamline the processes by which it collects and makes data available to market participants.
Waters Wavelength Ep. 301: SIX’s Javier Hernani
Javier Hernani, head of securities services at SIX, joins to discuss everything T+1.
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.
Does TP Icap-AWS deal signal the next stage in financial cloud migration?
The IMD Wrap: Amazon’s deal with TP Icap could have been a simple renewal. Instead, it’s the stepping stone towards cloudifying other marketplace operators—and their clients.
Can the EU and UK reach T+1 together?
Prompted by the North American migration, both jurisdictions are drawing up guidelines for reaching next-day settlement.
Clearing houses fear being classified as DORA third parties
As the 2025 deadline looms, CCP and exchange members are seeking risk information that’s usually deemed confidential.
T+1 shift sees out-of-hours human resourcing costs spike by as much as 20%
New research finds that trading firms are experiencing increased labor costs—which could be a boon for outsourced trading.
Where have all the exchange platform providers gone?
The IMD Wrap: Running an exchange is a profitable business. The margins on market data sales alone can be staggering. And since every exchange needs a reliable and efficient exchange technology stack, Max asks why more vendors aren’t diving into this…
CME: CFTC OKs clearing move to Google Cloud
The CFTC has given the Chicago-based exchange approval to run its clearing and settlement infrastructure on the Google Cloud Platform, while the exchange and vendor have extended their partnership to last until at least 2037.
EU firms press for faster move to T+1 after smooth US rollout
Following the example set by North America, 70% of attendees at a European hearing on shorter settlement cycles favored a Q4 2027 switch to next-day settlement.
Ace high or busted flush? Digital Asset’s mixed fortunes mirror DLT adversity
The vendor hoped to remodel post-trade using blockchain technology—and it still might—but its bumpy progress raises questions over the future of DLT in finance.
Zeros and ones: Industry contemplates T+0 as the next step
With the North American transition to T+1 settlement complete, same-day settlement could be the next goalpost set, though skeptics are many.
All eyes turn to North America as T+1 arrives
As T+1 settlement becomes a reality in North America, long-lingering questions will get their answers.
DTCC urges affirmation focus ahead of T+1 move
On May 28, large numbers of securities transacted across the North American marketplace will be required to settle one day after they are executed. DTCC is urging all market participants to scrutinize their existing technology and operational procedures,…
‘Very careful thought’: T+1 will introduce costs, complexities for ETF traders
When the US moves to T+1 at the end of May 2024, firms trading ETFs will need to automate their workflows as much as possible to avoid "settlement misalignment" and additional costs.
Waters Wavelength Podcast: Countdown to T+1
DTCC’s Val Wotton joins the podcast this week to discuss the impending move to T+1 in the US.
Prepare now for the inevitable: T+1 isn’t just a US challenge
The DTCC’s Val Wotton believes that firms around the globe should view North America’s move to T+1 as an opportunity—because it’s inevitable.
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.