SIFMA today issued the following statement from Tom Price, managing director and head of technology, operations, and business continuity for SIFMA, on today’s T+1 settlement:
“Today is the first day of settlement of in scope trades on a T+1 timeframe, and SIFMA is optimistic about the progress of the transition to date. Today is a double settlement day, with trades from May 24th settling T+2 and trades from May 28th settling T+1. SIFMA’s T+1 Command Center is fully engaged with the broad financial services industry, discussing among the designated participants such topics as conversion status information, transparency into the activity of other participants, and issue identification and socialization. We are encouraged by the feedback from the industry. The transition is moving forward.”
