Faster U.S. stock settlement poses ‘systemic risk’ to Europe, asset managers say
Wall Street’s move to halve the time it takes to complete a stock trade will create a “systemic risk” in Europe unless market participants get more time to line up dollars for stock purchases, Europe’s asset management industry said on Thursday. U.S. stock markets, along with those in Canada and Mexico, will require share trades to be settled within one business day (T+1) from the end of May, instead of two at present, which is the norm in Europe. The aim of the U.S. move is to reduce risk. European ...
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