Clarity needed around Europe’s SFT T+1 exemption - Global Trading

Clarity needed around Europe’s SFT T+1 exemption - Global Trading

EU member states accepted the European Council’s proposal for the shortened settlement cycle on 7 May, with the amendment that securities financing transactions will be exempt. These transactions are non-standardised, and introducing an obligation to clear on a T+1 basis may be unfeasible, the Council agreed. Franck Noel, managing director in the strategy, risk and transactions department at Deloitte, told Global Trading:  “Whether this exemptio…