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US T+1 Settlement: Not So Fast (Updated)

February 7, 2018 By Chris Kentouris Leave a Comment

Update (May 13, 2018): Come late 2019, bank and broker-dealer members of the US Depository Trust & Clearing Corp. could look forward to reducing their settlement exposures by one day while retaining the current two-day settlement cycle. DTCC now says that US trades could be settled before the market opens on T+2 instead of the […]

Filed Under: Infastructure, Post-Trade, Sec Lending, Settlement, Slider, Trading Tagged With: Custodians, DTCC, Investment Ops, Matching, Post Trade, SEC, Settlement, Standards, T+2

Countdown to US T+2: Five Last Minute Tips

August 30, 2017 By Chris Kentouris Leave a Comment

It’s now or never when it comes being ready for the pending two-day settlement cycle in the US. With September 5, the day T+2 becomes effective, just around the corner, operations and IT managers are taking the opportunity to verify that their front, middle and back office systems are tweaked correctly. And that their counterparties […]

Filed Under: Compliance, Corporate Actions, Funds, Infastructure, Sec Lending, Settlement, Slider, Standards, Trading, Uncategorized Tagged With: Collateral, Compliance, Corporate Actions, DTCC, Fund Ops, Matching, Middle Office Ops, Ops Risk, Post Trade, SEC, Settlement, Standards, T+2

T+2: Exchanges Ex September 5 for Corporate Actions

June 23, 2017 By Chris Kentouris Leave a Comment

With the two-day settlement cycle on the horizon in the US, market players have their hands full, ensuring they have adapted their front, middle and back-office operations correctly before September 5. However, one major concern about the changeover has just been relieved. The New York Stock Exchange and Nasdaq have eliminated September 5 as an […]

Filed Under: Corporate Actions, Rules, Settlement, Slider, Trading Tagged With: Corporate Actions, Ops Risk, Settlement, Standards, T+2

US T+2: SEC Joins the Bandwagon

April 7, 2017 By Chris Kentouris Leave a Comment

The Securities and Exchange Commission may have just given its official blessing to a shortened trade settlement cycle in the US come September 5, but the Depository Trust & Clearing Corp. (DTCC), its member firms and service providers have already been working long and hard on operational adjustments and industry-wide testing. All this effort will hopefully […]

Filed Under: Compliance, Infastructure, Margining, Post-Trade, Rules, Sec Lending, Settlement, Slider Tagged With: DTCC, Middle Office Ops, Post Trade, SEC, Settlement, Standards, T+2

Dole Class Action Ruling: Short-Selling Clawback Next?

February 23, 2017 By Chris Kentouris Leave a Comment

US brokerage and bank operations and compliance managers will soon have to face an onerous back-office and legal challenge — figuring out how to make short sellers pay back $2.74 plus interest for each share of Dole Foods shorted more than three years ago. That money would be used to compensate beneficial investors who are considered the […]

Filed Under: Corporate Actions, Custody, Financials, Investments, Sec Lending, Settlement, Slider, Trading Tagged With: Collateral, Corporate Actions, DTCC, Investment Ops, Settlement, T+2, Valuation

T+2 in Canada: Affirmations in the Headlights Again

November 16, 2016 By Chris Kentouris Leave a Comment

Canada and the US are in lockstep to shorten their settlement cycle from three days to two days on September 5, 2017, but Canada is taking its preparations one step further when it comes to the critical post-trade function of matching trade details. The Canadian Securities Administrators (CSA), the umbrella organization representing all of Canada’s […]

Filed Under: Compliance, Operations, Settlement, Settlement, Slider, Trading Tagged With: Compliance, Corporate Actions, Custodians, Depositories, Matching, Middle Office Ops, Reporting, Settlement, T+2

Fund Managers Outsource More Mid-Office Ops

September 2, 2016 By Chris Kentouris Leave a Comment

Gone are the days when the middle office is maligned as being strictly a cost-center dragging down investment performance. Today more fund managers are concluding that more effective management of their middle office can not only reduce operating expenses, but also give them a competitive edge with investors and keep regulators at bay. Fund management […]

Filed Under: Outsourcing, Post-Trade, Reporting, Risk, Settlement, Slider Tagged With: AIFMD, Compliance, Dodd-Frank, Fund Ops, Hedge Funds, Middle Office Ops, MiFID, Ops Risk, Outsourcing, Post Trade, Reconciliation, Regulators, Reporting, SEC, Settlement, Standards, T+2

Blockchain for US Settlement: Three, Two, One, Takeoff? (Update)

August 31, 2016 By Chris Kentouris Leave a Comment

(Editor’s Note: On Sept 14 itBit announced that its flagship Bankchain and other post-trade projects would be run out of a new firm Paxos with the same management. The former itBit, would be a division of Paxos, and continue to operate its crypto-currency trading platform).    If US blockchain afficionados have their way, the technology […]

Filed Under: Clearing, Innovation, Post-Trade, Risk, Settlement, Slider, Trading Tagged With: Blockchain, Brokerage Ops, Clearinghouses, Compliance, Depositories, DTCC, FCA, Innovation, Investment Ops, Matching, Post Trade, Regulators, SEC, T+2

Fund Operations Managers Weather UK’s Brexit Storm

June 30, 2016 By Chris Kentouris Leave a Comment

While the UK and European Union leaders will have two years to come up with a gameplan for how the UK will separate from the European Union, middle and back-office operations professionals at fund management shops are taking it one day at a time during extreme market volatility. The UK’s legal limbo has caused higher trading […]

Filed Under: Corporate Actions, Funds, Infastructure, Investments, Investors, Margining, Post-Trade, Rules, Settlement, Slider, Standards, Trading Tagged With: AIFMD, Collateral, Compliance, Corporate Actions, Depositories, EMIR, ESMA, Fund Ops, MiFID, Reporting, Settlement, Standards, T+2

Transfer Agents, Brokers, DTC Debate SEC’s Proposed Rules

April 27, 2016 By Chris Kentouris Leave a Comment

The Securities and Exchange Commission’s decision to overhaul the rules governing transfer agents has prompted a debate among shareholder recordkeepers on the one hand and broker-dealers and their allies on the other. It could easily take up to a year for any new requirements to take effect, However, transfer agents for equities and investment funds […]

Filed Under: Compliance, Derivatives, Financials, Infastructure, Investors, Rules, Slider Tagged With: Brokerage Ops, Compliance, Corporate Actions, Data, DTCC, Fund Ops, Outsourcing, Reporting, SEC, T+2

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