Japan Keeps To Gross Settlement Deadline Despite Trader Error Fears
SYSTEMS
Toyko--The Bank of Japan expects to keep to its January 4 deadline for moving to gross settlement of Japanese government bond trading following successful tests, officials at the central bank said in early December.
That's despite fears among some bond traders that problems that emerged in the testing of so called real-time gross settlement (RTGS) -- which is deemed operationally safer by regulators than net settlement -- could lead to a spike in errors and failed trades in the short term. The
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