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Canadian dollar

Firms are developing a new foreign exchange settlement model for big banks

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Further research is needed to test expanding a blockchain-based system to include multiple asset classes, different types of trades and participants

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NYSE, NYSE Arca and NYSE American were charged with various regulatory failures stemming from five separate investigations

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The blockchain platform would allow securities trades to be confirmed in real-time rather than two full business days for settlement

The move to a two-day settlement cycle is expected to help reduce overall systemic risk, enhance capital efficiency and reduce costs

Shortening the settlement cycle should result in cost savings for trading firms

Transition to shorter T+2 settlement now underway

The CCMA plans to provide status updates on the transition during the Labour Day weekend and help firms deal with any unexpected issues that may arise

SEC’s Office of Investor Education and Advocacy tackles the shortening of the settlement cycle

The CSA says most current trade processing practices will be adequate

The amendments are intended to ensure the transition to the T+2 settlement cycle takes place on Sept. 5 and is harmonized with the U.S.