During today's GameStop hearing, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), will argue that shortening the standard settlement cycle could reduce costs and risks in the markets
“Today’s digital world is forcing the financial services industry to address the risks inherent in the current T+2 settlement model. We are ready to assist firms in preparation for this necessary and imminent change,” SIONIC cites
DTCC says a shorter settlement cycle will benefit investors and market participant firms by reducing systemic and operational risks
“Participation in listed options markets in 2021 has resulted in historic cleared contract volumes, outpacing even 2020 highs,” says John Davidson OCC CEO
Mike Bodson, president and CEO at DTCC, says: “I believe accelerating settlement should be right at the top of everyone's list"
The settlement of Irish securities worth around €100 billion traded on Euronext Dublin markets on 15 March took place in Euroclear Bank on 17 March
Michael Blaugrund, chief operating officer of the New York Stock Exchange (NYSE) will address accelerating trade settlement to T+1
