SEC Chair Gensler calls for UK and other markets to adopt faster currency settlements (T+1) to lower risk, boost liquidity, and enhance market resilience.
SEC Chair Gary Gensler urges UK and other markets to adopt faster currency settlements, similar to the US, Canada, and Mexico's shift to T+1. The change could lower risk, boost liquidity, and enhance market resilience. The UK plans to reduce trade settlement to T+1 by 2027, with Gensler noting that the U.S. transition led to a 25-30% reduction in required margin with no increase in failed settlements.
June 20, 2024
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