Bloomberg to launch T+1 FX fixing
Index arm to offer benchmark for value tomorrow outrights that settle in line with new US securities timeline
With volumes of tomorrow/next foreign exchange swaps set to rise as T+1 settlement rolls out in the US equities markets, Bloomberg is releasing a benchmark that will allow dealers to better net off their exposures.
The transition to T+1 securities settlement in the US on May 28 means that FX-related trades used to fund the purchase or sale of equities will in many cases also need to accelerate to T
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