GFXC fosters global awareness of T+1 impact on FX
Risk Live: Many non-US firms yet to realise FX implications of the country’s shift to shorter settlement times
The Global Foreign Exchange Committee (GFXC) is hoping to raise awareness of the implications of the upcoming shift to a T+1 settlement cycle in the US for the FX operations of non-US firms.
Traders are preparing for a reduction in the time it takes to settle their US corporate debt and equity trades from two days to one day after the trade date, or T+1, on May 28, 2024.
Many outside the US remain in the dark about how the change in the settlement window will impact their FX processes, however
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