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EU task force boss calls on NCAs to wield their powers to meet T+1

Europe’s disparity will add to command hub’s challenge to match US co-ordination feat, says Giovanni Sabatini

A large, long shadow is cast ominously next to a businessman

European national competent authorities (NCAs) must wield their supervisory powers – and the sooner the better – to assure a smooth transition to next-day (T+1) settlement, says Giovanni Sabatini, head of the European Union’s T+1 Industry Committee, the task force charged with co-ordinating the move. Along with the UK and Switzerland, the EU will shift to the accelerated securities settlement

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