Latest news with #T+1
Bloomberg
3 days ago
- Business
- Bloomberg
Europe's T+1 Shift Projected to Be Costlier Than US Transition
Europe's transition to a faster settlement regime will likely be more expensive than in the US, as the region's complex market infrastructure requires larger teams to steer the process. The shift to what's known as T+1 is estimated to cost $36 million for large European custodians, according to a report by Firebrand Research. That compares to a $13 million average cost similar firms incurred around the North American transition, it said.
Business Wire
4 days ago
- Business
- Business Wire
NRI Wins "Best Cutting-Edge Solution" at FTF News Technology Innovation Awards 2025
NEW YORK--(BUSINESS WIRE)--Nomura Research Institute, Ltd. (Headquarters: Tokyo, Japan; President & CEO Kaga Yanagisawa, 'NRI') today announced that its I-STAR/GX 1 Swift Business Connect has been named "Best Cutting-Edge Solution" at the prestigious FTF News Technology Innovation Awards 2025. The award recognizes NRI's groundbreaking achievement as the world's first post-trade system to establish direct connectivity to the Swift network without requiring a pre-existing interface. The Swift Business Connect model implemented via API enables seamless communication of settlement data between financial institutions, reducing operational and infrastructural burdens and allowing institutions to allocate more resources toward business expansion. I-STAR/GX also provides comprehensive support for evolving industry requirements, including: Support for the U.S. T+1 settlement cycle implementation that went into effect in May 2024 Preparation for ISO 20022 migration scheduled for 2025 Readiness for the upcoming T+1 migration discussions for Europe and the UK expected in late 2027 In addition, NRI offers optional services to assist financial institutions in complying with Swift's Customer Security Controls Framework (CSCF) 2, including compliance assessments and gap analyses to identify areas needing improvement. NRI SecureTechnologies, Ltd. 3, a group company of NRI specializing in global cybersecurity services, is a Swift CSP Certified Assessor, providing expert support in evaluating compliance and developing remediation plans and roadmaps for non-compliant areas. Hiroyuki Nakayama, Senior Corporate Managing Director at NRI said: 'This recognition underscores our commitment to delivering forward-thinking solutions that help clients navigate industry-wide transformation with confidence and agility.' The FTF News Technology Innovation Awards, now in their 15th year, recognize the professionals, vendors, service providers, industry bodies and regulators that have demonstrated exceptional innovation in financial technology during the past year. For more information about NRI's award-winning I-STAR/GX Swift Business Connect, please visit
Yahoo
22-05-2025
- Business
- Yahoo
Vermiculus Collaborates with Capital Market Research Firm GreySpark Partners to deliver Key Insights on T+1 Settlement Transition
Joint article series highlights operational, technological, and infrastructure implications for exchanges, clearing houses, and CSDs-one year after T+1 implementation-and explores what lies ahead as global markets consider similar reforms. STOCKHOLM, May 22, 2025 /PRNewswire/ -- Vermiculus, a global leading market infrastructure provider, today announced a strategic collaboration with the prominent capital markets research firm, GreySpark Partners, to release a comprehensive analysis of the T+1 settlement transition, which took effect in the U.S., Canada, and Mexico on May 28, 2024. This joint analysis examines how the transition has reshaped key aspects of market infrastructure, including risk exposure, operational workflows, and the role of automation in post-trade processes. "The shift to shorter settlement cycles is a game-changer, forcing the industry to rethink operations and upgrade systems at speed," says Lars-Göran Larsson, Industry Expert at Vermiculus, and continues: "The North American experience reveals how this transition has influenced settlement processes and introduced new demands for managing administrative routines. It also sheds light on the growing importance of modern technology, where flexibility and high throughput are critical to success." The first article highlights several key themes, including the immediate effects and implications of the transition, along with the challenges and benefits that have emerged, drawing on research and data from Acuity Knowledge Partners, Bloomberg, DTCC, Thomas Murray, and the US Securities and Exchange Commission. "Understanding the impact of the T+1 transition on post-trade processes and infrastructure is critical for the entire financial ecosystem," says Taraneh Derayati, CEO of Vermiculus. "To provide the industry with meaningful insights, we partnered with GreySpark for their deep expertise in capital markets and financial infrastructure. Their strong track record made them the ideal partner to help clarify both the challenges and opportunities this shift presents". The first analysis out, titled "Implications of T+1 Settlement on North American Markets" is now available to download from here. In the next in-depth article from this collaboration, the focus shifts to the international stage—exploring how the T+1 transition is influencing global markets and what lessons other regions can draw as they consider similar reforms. About Vermiculus Financial Technology Vermiculus Financial Technology AB provides cutting-edge trading, clearing, and CSD solutions to market participants around the world. Vermiculus' solutions are the first to bring state-of-the-art advances in dynamic microservice architecture together with vast experience in clearing house, exchange, and CSD business requirements. The company started its operation in 2020 and is founded by industry experts with the incentive to revolutionize the technology of exchanges, clearing houses, and CSDs. With its headquarters in Stockholm, Sweden, Vermiculus consists of hand-picked teams, trained to deliver mission-critical solutions. With decades of accumulated knowledge and expertise, the team has previously completed 75+ projects for the world's largest exchanges, clearing houses, and CSDs. For further information, please contact: Amelie Hedenstierna - PR & Communications Vermiculus Financial TechnologyTel +46-(0)73 622 24 This information was brought to you by Cision The following files are available for download: Release Taraneh Derayati, CEO of Vermiculus Lars-Göran Larsson Vermiculus View original content: SOURCE VermiculusFT Sign in to access your portfolio
Bloomberg
27-01-2025
- Business
- Bloomberg
UK Set to Make T+1 Switch in 2027 in Tandem With Europe
The taskforce spearheading the UK's shift to a faster trading regime is recommending the same transition date as the European Union, teeing up a coordinated move favored by the finance industry. The UK should switch to a one-day settlement cycle known as T+1 on Oct. 11 2027, according to Andrew Douglas, chair of the government-appointed team advising on the transition. That's the same date that the European Securities and Markets Authority has recommended, though formal political approval is still required in both jurisdictions.
