2027 Broker Funds 
The TRADE
JULY 23, 2024
Given that the settlement cycle is now shorter in the US trading volumes on a Thursday have dropped off significantly thanks to funding requirements that require brokers to fund a position for an additional three days on Friday, Saturday and Sunday given the slightly longer settlement cycle in Europe, the UK, and most of Asia Pacific.
The TRADE
JULY 3, 2024
Given that the settlement cycle is now shorter in the US trading volumes on a Thursday have dropped off significantly thanks to funding requirements that require brokers to fund a position for an additional three days on Friday, Saturday and Sunday given the slightly longer settlement cycle in Europe, the UK, and most of Asia Pacific.
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The TRADE
FEBRUARY 9, 2024
In the current state with T+2 you have 48 hours to execute a security trade, match that trade with brokers, execute the FX and get everything settled. In Asia, the focus is a bit different and the theme we’re seeing and hearing about is around pre-funding the FX settlement-related trades. This is very much an operational challenge.
The TRADE
JUNE 21, 2024
The current timeline for the UK appears to include a plan being put in place in 2025 with the implementation of a T+1 settlement cycle in UK occurring no later than 31 December 2027. Mutual funds and ETFs in the US have largely adopted a one-day settlement cycle by business practice, aligning portfolios from treasuries to equities.
The TRADE
DECEMBER 20, 2024
The UK has outlined a roadmap targeting Q4 2027, but despite ample time to prepare, significant actions are likely to commence soon. Institutional investors and brokers may adjust more easily, but smaller firms could face difficulties, necessitating investment in new infrastructure or reliance on third-party service providers.
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