EU regulatory bodies have agreed to establish a governance structure to oversee and support the technical preparations for the future move to a shorter settlement cycle
Mutual clients will be able to connect via Pirum services to fully automate margin calculation, agreement, and instruction, as well as collateral management and optimisation
This letter, sent to the European Commission, Parliament and Council, updates policy makers on the status of applications received by national regulators and highlights issues for attention raised during the project’s first year
The briefing note responds to ESMA proposals to increase the penalty rates for settlement fails, as well as introducing “progressive penalties” that increase for every day of the fail
The consultation aims to collect data on the effectiveness of the current penalty mechanism in discouraging settlement failures and incentivising their rapid resolution
As North America prepares for the T+1 transition, other jurisdictions must consider the impact on their own operations, panellists at this year’s Securities Finance Times Technology Symposium affirmed