All clearing and settlement news

Gensler spotlights SEC thinking on T+0 settlement and payment for order flow

10 June 2021 US
Reporter: Bob Currie

Time equals risk in financial markets and recent events have triggered questions around whether risk can be lowered through shortening the T+2 settlement cycle, says US SEC chair Gary Gensler

Volatility events triggered by GameStop are ‘part of a larger story’, says Gensler

06 May 2021 US
Reporter: Maddie Saghir

During today's GameStop hearing, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), will argue that shortening the standard settlement cycle could reduce costs and risks in the markets

SIONIC: now is the time for accelerating the settlement cycle

06 May 2021 UK
Reporter: Maddie Saghir

“Today’s digital world is forcing the financial services industry to address the risks inherent in the current T+2 settlement model. We are ready to assist firms in preparation for this necessary and imminent change,” SIONIC cites

DTCC accelerates effort to shorten US settlement cycle to T+1

30 April 2021 US
Reporter: Maddie Saghir

DTCC says a shorter settlement cycle will benefit investors and market participant firms by reducing systemic and operational risks

OCC cuts clearing fees to two cents

20 April 2021 US
Reporter: Becky Bellamy

“Participation in listed options markets in 2021 has resulted in historic cleared contract volumes, outpacing even 2020 highs,” says John Davidson OCC CEO

DTCC: complete industry engagement needed to move from T+2 to T+1

12 April 2021 US
Reporter: Maddie Saghir

Mike Bodson, president and CEO at DTCC, says: “I believe accelerating settlement should be right at the top of everyone's list"

Euroclear shifts €100bn of Irish securities from UK to EU operations

18 March 2021 Ireland
Reporter: Becky Bellamy

The settlement of Irish securities worth around €100 billion traded on Euronext Dublin markets on 15 March took place in Euroclear Bank on 17 March

Second GameStop hearing recommences

17 March 2021 US
Reporter: Maddie Saghir

Michael Blaugrund, chief operating officer of the New York Stock Exchange (NYSE) will address accelerating trade settlement to T+1

Worldline to provide clearing and settlement services to support PSA’s new payment ecosystem

16 March 2021 Austria
Reporter: Maddie Saghir

Through this cooperation, PSA and Worldline are laying the groundwork for a new real-time payment platform for instant, secure and device-independent payments across Austria

DTCC proposes move to shorten US settlement cycle to T+1 by 2023

24 February 2021 US
Reporter: Becky Bellamy

In order to move to T+1, DTCC says industry participants must align and agree to shorten the settlement cycle by implementing the necessary operational and business changes, and regulators must be engaged

T+0 settlement is a 'non-starter', says industry consultant Tony Freeman

24 February 2021 UK
Reporter: Maddie Saghir

Tony Freeman suggests T+0 would have “huge side effects and remove all of the benefits of netting which are significant”

Robinhood CEO calls for a fix on the ‘antiquated settlement structure’

22 February 2021 US
Reporter: Maddie Saghir

Tenev suggests that solving the problem for the system will require “systemic change” and fixing of the “antiquated settlement structure”

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