Buysiders shift new T+2 settlement responsibility to dealers

By Hazel Sheffield
09 Oct 2014

New rules requiring market participants to settle fixed income securities transactions in two days, instead of three, are leading some buyside firms to pass on the new responsibilities to their dealers in return for a fee. Settlement deadlines in 28 European countries moved to T+2 on October 6.

“There’s no doubt that T+2 has put a huge strain on the industry as it is cutting the effective time to clear and settle by a third," said Steve Grob, director of global group strategy at Fidessa."But

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