The inevitable shift from T+2 to T+1 in the U.S. will bring significant challenges across the global securities services industry, including operational risks, funding implications and external dependencies. Citi held a virtual event with 存 to detail what is involved with moving to T+1.
Reviewing The Playbook: A Detailed Plan for T+1 Implementation
Michele Hillery, 存 General Manager of Equity 清算 and 直接转矩 结算 Service, and David Kirby, 存 Executive Director, Americas Relationship Management & Global Account Management, joined moderator Bryan Murphy, Citi Global Head of Banks Sales, Securities 服务, and Michele Pitts, Citi Head of Securities 服务, United States, and Head of U.S. Custody Product Management to provide a status update on the industry-wide initiative, as well as the impact of T+1 on current 帖子-trade operations and processes, implications across both buy-side and sell-side, and next steps as it relates to testing.
Additionally, panelists discussed Citi’s "Securities 服务 Evolution 2022" white paper, which features insight from Hillery as part of information gathered from 12 financial market infrastructures (FMIs) and almost 300 market participants from banks, broker-dealers, asset managers, custodians and institutional investors around the world.