Settlement cycle in Europa a T+1, dopo Usa Canada e Messico

[xeres]

The move from T+2 to T+1 settlement has already gained traction in various regions. For instance, the US, Canada, and Mexico have announced plans to transition to T+1 settlement in May 2024. This significant shift will have a profound impact on global securities markets, given the dominance of the US market and its interconnectedness with other economies.

T+1 is old news. Europe should move to T+0 - The Global Treasurer

Forse anche in Europa passeremo al T+1 dopo Usa, Canada e Messico, ma a quanto pare non prima del 2025.

In the report ESMA summarises the feedback from market participants during the consultation, focused on four areas:

• Many operational impacts beyond adaptations of post-trade processes are identified as resulting from a reduction of the securities settlement cycle in the EU.
• Respondents identified a wide range of both potential costs and benefits of a shortened cycle, with some responses supporting a thorough impact assessment before deciding.
• Respondents provided suggestions around how and when a shorter settlement cycle could be achieved, with a strong demand for a clear signal from the regulatory front at the start of the work and clear coordination between regulators and the industry.
• Stakeholders made clear the need for a proactive approach to adapt their own processes to the transition to T+1 in other jurisdictions. Some responses warned about potential infringements due to the misalignment of the EU and North America settlement cycles, that ESMA is currently assessing.

ESMA intends to deliver its final assessment to the European Parliament and to the Council before 17 January 2025.

T+1 feedback report shows mixed impacts of shortening the settlement cycle in the EU

 

[xeres]

Il mondo finanziario si evolve, e sono convinto che presto o tardi arriveremo al mercato aperto 24/7. Però potrebbe diventare un mercato più volatile a causa della mancanza di liquidità nella contrattazione notturna.

The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse.

Institutional interest in overnight trading has been muted because of the relatively poor liquidity on offer and concerns around settlement risk, among other issues.

New York Stock Exchange tests views on round-the-clock trading