The TRADE

OCTOBER 16, 2024

The post All signs point towards Europe aligning T+1 move with UK and Switzerland appeared first on The TRADE.

Capital Market 81

Capital Market Government Trading Capital 81

The TRADE

OCTOBER 21, 2024

“We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our clients to help them meet their compliance requirements,” said Ben Cooling, general manager, regulatory trade and transaction reporting at Broadridge. “The

Trading 64

Trading Securities IT Investment 64

The TRADE

JULY 23, 2024

The first step is a prerequisite to the second and will involve all trades being confirmed/allocated “as soon as practicable and no later than on trade date”. The UK put together a taskforce in 2022, releasing its first report in March this year which confirmed that the UK should move to T+1 no later than December 2027.

Trading 64

Trading Broker Funds IT 64

The TRADE

OCTOBER 10, 2024

Following the US shift to T+1 settlement in May, the UK is gearing up for a 2027 shift and set to benefit from “second mover advantage” according to Andrew Douglas, chair of the T+1 technical group (TGT) of the UK Accelerated Settlement taskforce (AST).

Trading 59

Trading IT Capital Market Consulting 59

The TRADE

FEBRUARY 9, 2024

What are the costs associated with opening a North American FX trading desk? Each trader will need a terminal depending on the trading platform being used, which carries a considerable cost. All of that is the bare minimum set up and the cost of those items are necessary when considering opening a trading desk.

Asset Management 64

Asset Management Trading Management Accountant 64

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. When we proposed the rule in February 2022, only about two-thirds (68%) of transactions were being affirmed on trade day.

Trading 64

Trading Asset Management Management Securities 64

Mergers and Inquisitions

MAY 3, 2023

People tend to ignore this trade-off between Payouts, Growth, and Cash Retention and blindly assume Dividends based on dividend-per-share or EPS figures. This is wrong because all financial models must reflect the trade-off between getting paid today and investing in future growth.

Valuation 64

Valuation DCF Debt Financial Modeling 64

Cooley M&A

JANUARY 25, 2024

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.

M&A 52

M&A Mergers and Acquisitions Investment Government 52

The TRADE

JANUARY 27, 2025

The UKs Accelerated Settlement Taskforce (AST) is recommending that the UK moves to the T+1 settlement cycle for securities on 11 October 2027 in line with its European counterparts. The post UK confirms October 2027 alignment with EU and Switzerland for T+1 transition appeared first on The TRADE.

Trading 90

Trading IT Funds Management 90

The TRADE

JANUARY 23, 2025

The Swiss Securities Post-Trade Council (swissSPTC) has recommended a move to T+1 in October 2027 in line with the EUs ambitions, and likely the UK. The recommendation is that the transition to a T+1 Settlement Cycle for the domestic markets in Switzerland and Liechtenstein should occur in October 2027.

Trading 69

Trading IT Securities 69

The TRADE

NOVEMBER 18, 2024

The European Securities and Markets Authority (ESMA) has proposed a move to T+1 in the EU by Q4 2027 – in line with the UK. Published in the watchdog’s final T+1 recommendations, ESMA recommends that the migration to T+1 occurs simultaneously across all relevant instruments – with a coordinated approach across the continent “desirable”. In a (..)

Capital Market 52

Capital Market Trading Capital Asset Management 52

The TRADE

DECEMBER 17, 2024

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.

Trading 59

Trading Securities Economics Finance 59

The TRADE

FEBRUARY 20, 2025

On 6 February, the UKs Accelerated Settlement Taskforce (AST) published its report asserting a UK move to a T+1 settlement cycle by 11 October 2027, and listing a set of recommendations for the shift. The post FCA welcomes UK taskforce final report on the move to T+1 appeared first on The TRADE.

Trading 106

Trading Government Funds Corporation 106

The TRADE

FEBRUARY 13, 2025

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.

Trading 64

Trading Equities Investment Management 64

The TRADE

DECEMBER 20, 2024

The transition to a T+1 settlement cycle in North America this year highlighted the need for efficient and automated processes both pre- and post-trade, fostering a broader conversation on optimising post-trade workflows to handle growing complexities.

Trading 59

Trading Equities Capital Investment 59

The TRADE

DECEMBER 31, 2024

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.

Trading 52

Trading Management Financial Institution Investment 52

The TRADE

APRIL 16, 2025

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.

Trading 59

Trading Valuation Funds Corporation 59

The TRADE

MARCH 17, 2025

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.

Trading 64

Trading Negotiation Securities Capital Market 64

The TRADE

MARCH 12, 2025

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.

IT 64

IT Trading Capital Market Equities 64

The TRADE

FEBRUARY 6, 2025

The plan includes a Code of Conduct for market participants, which confirms11 October 2027 will be the first trading date in UK cash equities forsettlementon aT+1cycle in line with the European Union and Switzerland. Primary regulation, UK CSDR, will be amended to reflect that T+1 will be mandatory from 11 October 2027.

Trading 59

Trading Bank Banking Government 59

The TRADE

APRIL 3, 2025

Euronexts fixed income trading platform MTS has gone live with a new buy- and sell-side dealer to client protocol. By automating the process trade workflows, dealers can now focus on delivering service to clients, ultimately improving our capacity to serve clients with greater precision and speed.

Trading 52

Trading Sale IT 52

The TRADE

FEBRUARY 11, 2025

This partnership marks a significant milestone in Euronexts Innovate for Growth 2027 strategy, reinforcing Euronext Clearings role as a cornerstone of the group’s broader strategic ambitions, said Anthony Attia, global head of derivatives and post-trade at Euronext.

Collaboration 69

Collaboration Management Trading Capital Market 69

The TRADE

FEBRUARY 24, 2025

The UK will move to T+1 on 11 October 2027, in line with the EU and Switzerland. However, the challenge currently lies in ensuring a successful migration by October 2027. Firms must act early to review and adapt their post-trade operations to ensure a seamless transition.

Trading 52

Trading Banking Bank Financial Market 52

The TRADE

MARCH 6, 2025

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. Do you want to evolve, or do you want to go extinct?

Trading 64

Trading IT Funds Investment 64

The TRADE

APRIL 10, 2025

Read more: Optiver to convert to a systematic internaliser Recent market activity has brought the topic of SIs and their set-ups under the microscope of late, with Optiver confirming its decision to become a systematic internaliser earlier in April, as revealed by The TRADE. Read more: The dark trading debacle does anyone even care?

Trading 64

Trading IT Equities Stock 64

The TRADE

FEBRUARY 25, 2025

A shrinking number of brokers are accounting for over half of trading activity in Europe, a new report by Coalition Greenwich has found. Around 20% of trading activity is executed with the top broker, while 60% is executed with the top five brokers, Coalition Greenwich has suggested.

Broker 59

Broker Equities Electronics Trading 59

The TRADE

JANUARY 23, 2025

ESMA has suggested 11 October 2027 as the optimal date for the transition to T+1 in the EU , aligning with the UKs proposed switch and today, 23 January, Switzerland also announced plans to move to T+1 in October 2017 , with the date now being a consensus between the EU, Switzerland and the UK.

Government 64

Government Capital Market Financial Market Bank 64

The TRADE

FEBRUARY 27, 2025

TheUS Securities and Exchange Commission (SEC) has officially extended the compliance dates for the Treasury clearing rule, by over a year, with changes now set to go live 31 December 2026 for cash markets and 30 June 2027 for repo.

Risk Management 59

Risk Management Management Trading Securities 59

The TRADE

FEBRUARY 14, 2025

This trend is certainly on the radar for both the UK and Europe, and it will continue to be a focus as we look towards 2027. The post Fireside Friday with… Broadridge Internationals Mike Sleightholme appeared first on The TRADE.

Business 64

Business Government Trading Management 64

The TRADE

JANUARY 17, 2025

I think it’s similar to 2024 to some extent, the main challenges are going to be political and macroeconomic uncertainties and how that will impact traders trading strategy. Financial products are different in EM than in developed markets where products are more electronic, with more high frequency trading, etc.

Trading 59

Trading Consulting IT Financial Market 59

The TRADE

DECEMBER 23, 2024

As the industry moves towards a consolidated tape and the looming T+1 deadline, established players will likely continue positioning themselves to expand their market share or protect their existing trading, data, and technology businesses. In 2025, we must challenge existing workflows and the status quo to innovate and compete globally.

Trading 52

Trading Capital Financial Institution Risk Management 52