Countdown to shorter settlement cycle transition in May 2024 has begun
Regulators consult on global standards, expect final version by Q4
The lawsuit, initially filed in September 2010, was set to go to trial next month
Changes to dealer rules, trading rules aim to facilitate shorter settlement cycle
Survey finds over half of buy-side firms haven't started work on transition
The case can either proceed to a contested hearing or the two sides may seek a new deal
Complex undertaking will reduce counterparty risk, as well as margin and liquidity demands
Regulator rejects industry's call for Labour Day 2024 transition
Shorter settlement cycle for mutual funds won't be mandated
Paper proposes a fee for settlement failures in the government bond and Treasury markets