DTCC, ICI and SIFMA outline path to implement next-day settlement for US securities by H1 2024, but conclude that a move to T+0 is not feasible in the short term
DSM platform will enable digitisation of private market securities using distributed and centralised infrastructure. It will launch initially for pre-IPO securities, but will extend to a wider range of private securities according to user demand
The Central Securities Depositories Regulation (CSDR) rulings, relating to mandatory buy-ins, are “fundamentally flawed”, according to James Cunningham, head of European regulatory and market initiatives at BNY Mellon
“With ALERT, we are able to bring greater efficiency, risk mitigation, and accuracy to the post-trade settlement process for our client base,” says Wayne Francis
The settlement date for stocks used to be T+5, before moving to T+3, and now most markets operate on a T+2 settlement cycle, but panellists at the AFME conference discussed whether or not the T+2 cycle is enough
The Depository Trust & Clearing Corporation’s central trade manager (CTM) service for US domestic trade matching has grown to more than 1,800 firms, with organisations further consolidating global post-trade flows on a single platform
FICC, the DTCC subsidiary, argues that central clearing provides widespread benefits to the US Treasury market, including lower credit risk and settlement risk, improved liquidity and market access, and a more orderly system for liquidating positions
An industry working group, sponsored by the CPMI-IOSCO specialist group on cyber resilience, has published a whitepaper on data protection and validation in the face of cyber threats to FMIs
“Project Ion holds the promise of new settlement functionality supported by robust technical capabilities and is a key part of our on-going efforts to further accelerate settlement," says Michele Hillery