DTCC proposes one-day settlement for stock trades
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FILE PHOTO: A logo for The Depository Trust & Clearing Corporation (DTCC) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren
LONDON (Reuters) - Global securities settlement house DTCC proposed on Wednesday a two-year timetable for introducing one-day settlement to cut risk in securities transactions in the United States.
"Based on extensive industry engagement conducted throughout 2020, early indications suggest that market participants increasingly favor the move to T+1," DTCC said in a statement.
(Reporting by Huw Jones; Editing by Jan Harvey)
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