Inside the FX cut-off conundrum sparking animosity between the buy-side, CLS and custodians as T+1 looms
The TRADE
MAY 24, 2024
CET (6pm ET) deadline – considering 30-, 60- and 90-minute extensions – and promised an update around the end of Q1 2024. One of the big benefits of T+1 was the argument that it will reduce risk but what we feel is happening is a transfer of risk from proprietary trading strategies and retail brokers to asset managers and their clients.
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