Managing the FX challenge for T+1
As firms prepare for T+1 in May 2024, DTCC’s Val Wotton says they should also consider the complexities for cross-border trades.
As T+1 settlement in the US inches closer to its May 2024 implementation, it is essential that firms ensure a vigorous and synchronised testing programme is in place to verify that they can operate successfully within the new compressed settlement timeframe.
Based on early indications we are seeing within the Depository Trust and Clearing Corp’s (DTCC’s) testing programme, which was launched on August 14, 2023, firms are increasingly leveraging the industry’s environment to administer end-to-end
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