The multi-currency settlement system has seen no decrease in values or volumes suggesting no shift to bilateral settlement, though some trends are emerging with regards to submissions to CLS.
DTCC urges organisations to accelerate their preparations and readiness ahead of the switch next month.
Mexico will transition to T+1 settlement at the end of May 2024, coinciding with the SEC's move to T+1 in the US.
This initiative is the outcome of collaborative efforts between Clearstream, the Nasdaq Baltic exchanges, and Nasdaq CSD.
Vikesh Patel, president of Cboe Clear Europe, sheds light on Cboe Clear Europe's strategic approach, emphasising three key areas of focus: expanding coverage and interoperability, enhancing derivatives clearing services, and launching a Securities Financing Transactions (SFT) clearing service to meet regulatory requirements and deliver efficiencies.
The deal expands the existing partnership between the two organisations, which already included settlement services on selected institutional clients’ portfolios.
The integration of Finland's CSD core platform with the European Central Bank's T2S platform will help to streamline cross-border settlements, making them more accessible and efficient.
The proposal has set out eight suggestions to encourage the widespread adoption of good market practices as well as enhancing the resilience of central clearing systems.
A shift to T+1 looks all the more likely after three organisations representing banks and brokers conclude that the benefits outweigh challenges.
Regulations such as DORA and CSDR are combining in a way that is forcing many to make some tough choices about who carries out these post-trade functions.