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Investors and brokers are being urged to cut the time it takes to settle US equity trades, a modernising move that could have its biggest impact on sleepy regional stockbrokers and on investors who prefer paper stock certificates.
Summary
Investors
and
brokers are
being
urged to
cut
the
time
it
takes
to
settle
U
S
equity
trades,
a
modernising
move
that
could
have
its
biggest
impact
on
sleepy
regional
stockbrokers and on
investors
who
prefer
paper stock
certificates.
Two
industry - run
groups are
trying
to
forge
a
consensus
to
reduce
settlement times,
for
fear
that
the
current
three-day
cycle is
an
unresolved
source
of
risk
to
the
financial
system.
The
initiative
could
run into
opposition
from
broker-dealers
who wish
to
avoid
investing
in
the required technology,
particularly
given
the
other
changes already
demanded
of
them
by
the
Dodd-Frank
Wall
Street reform.
Download the Congressional Testimony: Brokers urged to speed up US share trades
Related Content
Investors and brokers are being urged to cut the time it takes to settle US equity trades, a modernising move that could have its biggest impact on sleepy regional stockbrokers and on investors who prefer paper stock certificates.