Offline reconciliations can lead to missed settlement times and losses, despite 20% of market participants still using in-house systems.
Firms must expedite trade reconciliation and lifecycle processes due to the SEC's next-day trade settlement deadline.
Rising unstructured data volumes and new regulatory requirements drive firms to rethink data cleaning, standardization, and automation.
In-house systems may face hurdles as trade cycles tighten, emphasizing the need for better, streamlined technology and processes.
With the U.S. Securities and Exchange Commission marking May 28, 2024, as the cut-off for next-day trade settlements, both sell-side and buy-side firms need to speed up their trade reconciliation and other aspects of the trade lifecycle.
Despite available technology, a significant number of market participants still conduct up to 20% of reconciliations offline using in-house systems. This practice leaves room for missed settlements and potential losses.
The surge in data volumes, especially unstructured data, coupled with new regulatory requirements around data management, are driving market participants to invest in technology capable of cleaning, standardizing, and automating data.
Firms sticking with in-house systems could encounter hurdles when the trade cycle tightens. Many might find themselves rushing at the eleventh hour to meet T+1 requirements by adopting more streamlined technology processes.
Webinar
Based on insights from the Coalition Greenwich research report, this session delves into strategies for improving trade lifecycle efficiency, managing vast data volumes, and implementing process automation effectively.
As the T+1 implementation deadline approaches, this webinar provides an essential guide to help operations professionals across all levels navigate these complexities and stay ahead of the curve.
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