SIA drops T+1 for T+when?

INSURANCE

NEW YORK -- The Securities Industry Association (SIA), the US investment bank and brokerage trade body, said in July that it was shelving its plans for next-day settlement (T+1) for securities transactions. Donald Kittell, the organisation’s executive vice-president, said the decision was heavily influenced by adverse market conditions, the complexity of T+1 and a lack of industry consensus on its implementation. A decision on whether to proceed with T+1, which was to be introduced in th

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