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The UK T+1 Taskforce technical group has earmarked October or November 2027 as the date for a switch to an accelerated settlement cycle in the UK. What’s very clear is that the entire industry, whichever segment you’re in, has that desire is for alignment.
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. Depending on the day of the week or the settlement cycle used it’ll be more expensive to trade.”
The Investment Association (IA) has concluded that the UK, EU and Switzerland should transition to T+1 settlement on a date in Autumn 2026 after gathering views from its members. The post Asset management association pushes for Europe to switch to T+1 in 2026 appeared first on The TRADE.
The European Securities and Markets Authority (ESMA) acknowledged the benefits of reducing settlement times but highlighted how harmonisation, standardisation and modernisation will be needed and will require investments. The post All signs point towards Europe aligning T+1 move with UK and Switzerland appeared first on The TRADE.
Broadridge Financial Solutions has confirmed its preparedness to support new OTC derivatives reporting requirements by the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) expected to go live on 21 October.
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. When we proposed the rule in February 2022, only about two-thirds (68%) of transactions were being affirmed on trade day.
But people who aim for investment banking roles are very much into those bells and whistles, so questions about the DDM and other “exotic” methodologies began rolling in. And Equity Real Estate Investment Trusts (REITs) must distribute almost all their Net Income, so the DDM can work well in REIT valuations.
In one of the most high-profile examples of this increased scrutiny, the US Federal Trade Commission (FTC) attempted to block Horizon Therapeutics’ $29.3 Deal momentum in the AI space was one of the main talking points for cross-border dealmaking in 2023, with some estimates projecting the overall market size will reach $407 billion by 2027.
It is expected that existing CSDR and settlement discipline regulation will need to be amended, in order to “have the legal certainty and to foster the necessary improvements in post-trading processes”, the watchdog said. The move aligns with the proposed move to T+1 in the UK – which was announced in September.
ESMA announced last month that it would prepare for a move to T+1 in the EU by Q4 2027 in line with the UK. The post ESMA names T+1 lead as 11 October 2027 earmarked for co-ordinated switch with UK appeared first on The TRADE.
Stephane Boujnah The trading venue saw full year revenue and income up 10% from 2023, totalling 1,627 billion. Overall trading revenue contributed towards this, growing 14% year-on-year to 559 million, driven by strong results within its fixed income and FX divisions, as well as solid growth in cash trading revenue.
This conversation is especially relevant as cross-border transactions grow in volume and as asset managers expand their investment in international markets. This conversation is especially relevant as cross-border transactions grow in volume and as asset managers expand their investment in international markets.
Jim Kaye, Executive Director at the FIX Trading Community Next year will be the year of preparation. Market participants readiness for key milestones, like the anticipated go-live of the European consolidated tape (CTP) in 2025 or the transition to T+1 settlement in the UK/EU in 2027, will be critical to ensure long-term success.
We are encouraged to see such strong, early engagement from the industry ahead of the UKs transition to T+1 in 2027, said Andrew Douglas, chair of the UK Accelerated Settlement Taskforce. The post Industry engagement strong in Europe ahead of T+1 transition, finds survey appeared first on The TRADE. Challenges remain, however.
BME has announced a reform to Spain’s securities settlement system to improve efficiency, align the Spanish market with European standards, and prepare it for the T+1 settlement cycle by 2027. The post BME implements new reform to bolster Spanish settlement system appeared first on The TRADE.
Euronext Amsterdam, Brussels and Paris are set to designate Euronext Securities as the central securities depository (CSD) for the settlement of equity trades from September 2026. At present, the settlement of equity trades in Europe is fragmented across over 30 different CSDs.
Broadridge Financial Solutions has enhanced its OpsGPT interface with new AI capabilities in a drive to optimise global post-trade operations. In January 2025, Broadridge added GenAI-powered analytics feature to its platform to bolster multi-asset post-trade processing and operational reporting.
The transition to T+1 should catalyse firms investment in automation and standardisation, leading to lower settlement costs in the medium term and more efficient markets, she added. The UK will move to T+1 on 11 October 2027, in line with the EU and Switzerland.
A gathered panel of T+1 experts at the FIX EMEA Trading conference were in agreement about the inevitability of an eventual further shift in settlement times and, appeared cautiously optimistic that firms are for the most part sufficiently aware of the need to innovate. We’re looking at where we go from here.
The latest report highlights the fact that though the Mifid II review removed the quantitative test during calculations determining whether an investment firm qualifies as an SI, these changes will only apply once the changes to Mifid II are transposed into national law forecasted to be by 29 September 2025.
Still, all parties must act swiftly to address the macro-level challenges affecting primary market listings and the lack of investment in the EMEA region. We all have a role to play in establishing the EMEA ecosystem as a model of excellence for the global trading community next year and beyond. helping bring this to life.
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