ISITC’s Paul Fullam on the ‘anxiety’ over T+1 in Europe
Trade processing chair blames budget constraints, testing and unease over operational risk ahead of settlement move
Three characters are causing a crisis of confidence among back-office staff at UK and European banks, brokers and investment firms: T+1.
After laying out a roadmap for next year’s switch to one-working-day trade settlement, regulators and industry execs are haggling over the finer details, and companies are under notice to put their plans in place.
In the thick of the preparations is the trade body for the post-trade operations community, ISITC, and its chair Paul Fullam.
He explains the reasons
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