Early market data after the implementation of T+1 settlement in the US on May 28 suggests that asset managers did a good job of assessing their capacity to fund securities settlements with a related FX trade in a shorter timeframe.
According to Adrian Whelan, managing director and global head of market intelligence for investor services at BBH, most intraday processing delays in the first week of the new regime were resolved with minimal market impact.
Custodians changed their operating model to offer a wider window for executing FX, which meant that clients could take advantage of this to fund USD settlement activity on T+1
Chris Rowland, State Street
Thanks for your interest in Euromoney!
To unlock this article:
