In its final report, the EU’s financial markets regulator and supervisor highlights the long-term benefits for European markets prompted by a shorter settlement cycle
EU regulatory bodies have agreed to establish a governance structure to oversee and support the technical preparations for the future move to a shorter settlement cycle
Mutual clients will be able to connect via Pirum services to fully automate margin calculation, agreement, and instruction, as well as collateral management and optimisation
This letter, sent to the European Commission, Parliament and Council, updates policy makers on the status of applications received by national regulators and highlights issues for attention raised during the project’s first year
The solution aims to provide near real-time trade matching and settlement status updates allowing operations teams to quickly identify trades that look set to fail
While the introduction of cash penalties under the Central Securities Depositories Regulation has reduced settlement fails somewhat, particularly for equities, the report affirms that inefficiencies remain, prompting higher costs and increased risk
The platform is designed to support firms’ post-trade processing requirements including fails management, financial transaction taxes and Central Securities Depositories Regulation penalty management
By using Xceptor's data automation platform and Delta Capita's expertise, the companies say their clients can reduce manual errors and improve compliance with T+1 settlement requirements