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The Thursday T+1 trading conundrum

The TRADE

The shift to T+1 in the US can largely be described as a success – affirmation rates remain comfortably high, fail rates have stayed reasonably low and FX trades don’t appear to have shifted to bilateral settlement as feared. Jim Goldie “The impact on a Thursday is that brokers need to fund for another three days.

Trading 59
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GIX trading platform the first green securities exchange to file with the SEC

The TRADE

The Green Impact Exchange (GIX) is on track to becoming the first sustainability-focused securities exchange in the US to file with the US Securities and Exchange Commission (SEC), and if approved, could begin operations in early 2025. It means you’re serious ,” explains Labovitz. GIX will provide that.”

Trading 64
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Cboe Europe new VWAP crossing service to launch in Q4

The TRADE

Set to launch in the fourth quarter, the VWAP-X service will be made available through block trading platform Cboe BIDS Europe and will give users a greater chance of sourcing and matching liquidity at a forward benchmark price. Trades will be reported in real time as off-book on-exchange executions.

Broker 105
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Under the spotlight: The implications of the FCA’s proposed new oversight strategy for principal trading firms

The TRADE

The FCA’s ‘supervisory strategy for Principal Trading Firms (PTF)’ letter – circulated to chief executives last month – highlighted five key areas of focus for the regulator for the next two years. The TRADE takes a look at what the FCA’s planned strategy means for the market empirically.

Trading 59
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Research budgets increasing globally for the first time since Mifid II

The TRADE

Substantive Research noted that US research budgets are able to bounce back much more quickly, given their investment professionals have more money to spend on external research from brokers and independent providers. Elsewhere, concentration of research budgets to the top 10 brokers rose marginally from 54.8%

Broker 72
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India to roll out optional T+0 from March 2024 as part of roadmap to instantaneous settlement

The TRADE

The Securities and Exchange Board of India (Sebi) plans to roll out an optional same-day settlement system in March next year as part of plans to introduce instantaneous settlement in 2025. The post India to roll out optional T+0 from March 2024 as part of roadmap to instantaneous settlement appeared first on The TRADE.

Broker 72
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Expanded SEC clearing rules will see daily DTCC Treasury activity increase by $4 trillion, survey finds

The TRADE

Subject to conditions, the amendments also permit broker-dealers to include customer margin required and on deposit at a clearing agency in the US Treasury market as a debit in the customer reserve formula. The amendments also require covered clearing agencies to separately collect and calculate margin for house and customer transactions.

Broker 104