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Accelerating the settlement cycle: An opportunity to modernise across the industry

Author

Listed:
  • Walley, Robert

    (Principal, Deloitte Risk and Financial Advisory, Deloitte & Touche, USA)

Abstract

The financial services industry has analysed the benefits and barriers of accelerating the US securities markets to trade date plus one day (T + 1). The focus of this paper is on the areas impacted and the need for driving industry modernisation efforts through technological advancement and operational scalability while at the same time seeking to mitigate risks and operational inefficiencies in the capital markets infrastructure. The purpose of the paper is to provide the reader with an understanding of the impacts across the different brokerage functions, businesses, behaviours that need to be considered, in order for individual firms and the industry as a whole, to transition to a T + 1 settlement. Firms will need to prepare for the anticipated transition scheduled for September 2024 (pending SEC rule adoption).

Suggested Citation

  • Walley, Robert, 2023. "Accelerating the settlement cycle: An opportunity to modernise across the industry," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 15(1), pages 62-67, January.
    • Handle: RePEc:aza:jsoc00:y:2023:v:15:i:1:p:62-67
    as

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    More about this item

    Keywords

    accelerated settlement; T + 1; brokerage operations; settlement; securities operations;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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