Financial markets association pleased with shift to faster trade settlement

Securities Industry And Financial Markets Associat News

Financial markets association pleased with shift to faster trade settlement
U.S. Securities And Exchange CommissionTrade
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The Securities Industry and Financial Markets Association (Sifma) said on Wednesday it is pleased with the transition to faster trade settlement, adding it...

NEW YORK - The Securities Industry and Financial Markets Association said on Wednesday it is pleased with the transition to faster trade settlement, adding it continues to monitor progress.

The shift in the world's largest financial market is aimed at making market infrastructure more resilient, but it has put investors and regulators on alert for increased trade failures and other hiccups.Wall Street is undergoing its first big test on Wednesday, when trades executed last Friday, when T+2 was still in place, and trades from Tuesday, the first day of T+1, will be settled. This is expected to lead to a rise in volume.

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