For the last few years, concerns about settlement risk have prompted regulators to look at ways to push more flow into payment-versus-payment (PvP) systems such as CLS.
However, those efforts could be upended on May 28, 2024, when the time it will take to settle US corporate debt and equity transactions is reduced from two days to one day after the trade date, or T+1. At this point, the FX-related trades that investors will have to carry out to fund the purchase or sale of these securities will
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