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Wall Street Moves To Fastest Settlement of Trades in a Century
The US stock market is finally as fast as it was about a hundred years ago. Bloomberg News: That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules. The change, halving the time it takes to complete every t...
Bloomberg News: That was the last time share trades in New York settled in a single day, as they will from Tuesday under new Securities and Exchange Commission rules. The hope is that everything will run smoothly, but even the SEC said last week the transition may lead to a "short-term uptick in settlement fails and challenges to a small segment of market participants." Firms across the spectrum have been preparing for months, relocating staff, adjusting shifts and overhauling workflows, and many say they're confident in their own readiness.
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