The US Securities Exchange Commission has renewed the debate in America over straight-through processing, but it is now clear that any move towards shortening the T3 settlement cycle is moribund, says Lee Cutrone, New York-based managing director at vendor Omgeo. But the industry agrees in principle on encouraging same-day affirmation of trades a process referred to as SDA.
The prevailing mood is that SDA and central matching can lay the groundwork, or obviate the need, for a reduced settlement cycle.
For fund managers, brokers and custodians in the Asia-Pacific, the US debate about moving from T3 to T1 was not, in itself, that...
