A Shorter 结算 Cycle Will Benefit Investors 和 Market Participant Firms by Reducing Systemic 和 Operational Risks
Washington, DC/New York/London/Hong Kong/Singapore/Sydney, April 28, 2021— 的 Securities Industry 和 Financial Markets Association (SIFMA), 投资公司vnsr威尼斯城官网登入(这里), 和存托信托基金 & 清算 Corporation (存) are collaborating on efforts to accelerate the U.S. securities 结算 cycle from T+2 to T+1, the organizations announced today.
Working closely with their 成员 和 other key stakeholders, the organizations are outlining key steps to shorten the cycle for secondary market transactions, identifying priority issues that need to be addressed 和 conducting the necessary due diligence 和 resolution of these critical issues. 的 groups began discussing shortening the 结算 cycle with their 成员 last year 和 aim to complete their analysis on the next steps to achieving T+1 by the end of Q3 2021. Shortly after that work, the organizations will develop a definitive timeframe for moving to T+1. 除了 to their efforts to shorten the 结算 time, 证券业和金融市场vnsr威尼斯城官网登入,这里 和 存 will assess what it may take to further accelerate the 结算 cycle beyond T+1 和 explore the role that emerging technologies could play.
“加快结算周期, 正如我们和我们的合作伙伴这里和存从经验中所知道的那样, 是一项复杂而重要的任务吗,SIFMA主席兼首席执行官Kenneth E. 本特森,小. “A shorter 结算 timeframe can benefit investors 和 market participants by reducing credit, market 和 liquidity risks 和 promoting financial stability. Our plan is to fully address the business 和 operational impacts of the change first, to ensure a smooth transition 和 avoid any unnecessary market risk.”
“这里 和 its 成员 will play an active role in designing the roadmap for shortening the 结算 time,这里总裁兼首席执行官Eric J. 锅. “Regulated funds occupy a prominent place at the intersection of trading 和 结算 as they are the primary source for the daily trading transactions that brokers process. 这里, SIFMA和存在2017年率先向T+2和解, 和 we look forward to reviving that successful partnership.”
证券业和金融市场vnsr威尼斯城官网登入,这里 和 存 Previously Led Transition from T+3 to T+2
In 2017, 证券业和金融市场vnsr威尼斯城官网登入,这里 和 存 led the effort to shorten the U.S. 证券结算周期改为T+2. That multi-year effort required significant coordination across the industry 和 spanned multiple operations, 职能和规定. 类似的, 迁移到T+1将是一项重大的任务, 和 the organizations will partner with relevant stakeholders to achieve the many benefits of accelerating 结算 to T+1.
“Recent volumes 和 volatility demonstrate that the time to move to a shorter 结算 cycle is now,存总裁兼首席执行官Michael C. Bodson. “While we are committed to fast-tracking this work 和 can support T+1 with existing 存 technology today, we realize that this is a complex undertaking that will require close collaboration across the industry. 我们期待与同事们密切合作, 成员, regulators 和 key stakeholders to achieving T+1 和 ultimately delivering reduced risk 和 margin relief for the benefit of market participants 和 underlying investors.”
主动性需要考虑复杂的问题
但证券业和金融市场vnsr威尼斯城官网登入,这里 和 存 are committed to pursuing this work vigorously, there are many issues that must be considered before the organizations can determine an implementation date. 的 organizations identified a series of goals to advance this effort, including:
- 降低投资者和行业参与者的风险;
- Analyzing 和 improving current business 和 operational processes;
- Minimizing the disruption of important industry services;
- Ensuring new risks are not introduced; 和
- 进行全面的成本效益分析.
除了, 多个监管机构, 包括美国证券交易委员会, will need to be engaged to bring this initiative to fruition.
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对存
拥有超过45年的经验, 存 is the premier post-trade market infrastructure for the global financial services industry. 从操作设施, 在15个国家设有数据中心和办事处, 存, 通过其子公司, 自动化, centralizes 和 st和ardizes the processing of financial transactions, 减轻风险, increasing transparency 和 driving efficiency for thous和s of broker/dealers, 托管银行和资产管理公司. 行业所有和管理, 该公司简化了清算的复杂性, 结算, 资产维修, 数据管理, data reporting 和 information services across asset classes, bringing increased security 和 soundness to financial markets. In 2019, 存’s subsidiaries processed securities transactions valued at more than U.S. $2.1.5亿亿年. Its depository provides custody 和 资产维修 for securities issues from 170 countries 和 territories valued at U.S. $63.0万亿年. 存的全球贸易存储库服务, 透过本地注册的, 许可, 或者批准的交易存储库, 每年处理超过140亿条消息. 欲了解更多信息，请访问我们的网站www.存.Com或与我们联系 LinkedIn, 推特, YouTube 和 脸谱网.
联系人:克里斯蒂·莫罗，存 +1 617 880 6770 (电子邮件保护)
对这里
的 投资公司vnsr威尼斯城官网登入 (这里) is the leading association representing regulated funds globally, 包括共同基金, 交易所买卖基金(etf), 封闭式基金, 以及美国的单位投资信托(UITs), 和 similar funds offered to investors in jurisdictions worldwide. 这里 seeks to encourage adherence to high ethical st和ards, 促进公众了解, 否则就会推进基金的利益, 他们的股东, 董事, 和顾问. 这里的成员管理着29美元的总资产.1 trillion in the 美国, serving more than 100 million US shareholders, 和 US$9.在其他司法管辖区有六万亿美元的资产. 这里通过以下方式开展国际工作 这里全球, with offices in Washington, DC, London, Brussels, 和 Hong Kong.
联系电话:Matthew Beck, 这里 +1 202 326 5891 (电子邮件保护)
对证券业和金融市场vnsr威尼斯城官网登入
SIFMA是主要的经纪自营商行业vnsr威尼斯城官网登入, 在美国经营的投资银行和资产管理公司.S. 以及全球资本市场. 代表我们行业近100万名员工, 我们提倡立法, regulation 和 business policy affecting retail 和 institutional investors, equity 和 fixed income markets 和 related products 和 services. We serve as an industry coordinating body to promote fair 和 orderly markets, 知情的法规遵从性, 有效的市场运作和弹性. We also provide a forum for industry policy 和 professional development. SIFMA在纽约和华盛顿特区都设有办事处.C.，是U。.S. regional member of the Global Financial Markets Association (GFMA). 欲了解更多信息，请访问 http://www.sifma.org.
联系人:Katrina Cavalli, SIFMA +1 212 313 1181 (电子邮件保护)