Asset managers have warned of a “major and serious risk” to European capital markets if regulators do not copy the US and cut settlement cycles to one day.
Europe’s markets watchdog is considering whether to shorten EU settlement cycles following a move in the US to cut the current two-day settlement time for US equities and corporate bonds, a process known in the industry as T+2.
The US move from T+2 to T+1, which comes into effect in May, has caused concern among EU fund managers as it will reduce the amount of time they have to settle US trades.
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