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Verena Ross' Speech at the Public Hearing on shortening the settlement cycle, 10 July 2024

· Verena Ross, Chair of the European Securities and Markets Authority (European Union)

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· Verena Ross Wiki · European Securities and Markets Authority WikiVerena Ross' Speech at the Public Hearing on shortening the settlement cycle, 10 July 2024

ContextIntroductory remarks at ESMA's public hearing on shortening the settlement cycle; ESMA protects investors and keeps EU markets orderly, and must decide on a move to one-day settlement.

Why it mattersRegulators weigh whether Europe should follow America's switch to settling trades in one day.

Problems raised
  1. The US and others have moved to one-day settlement.
  2. The EU risks falling behind.
  3. The transition is complex for market participants.
Solutions proposed
  1. Learn from other countries' T+1 shifts.
  2. Consult widely through public hearings.
  3. Prepare a roadmap before a decision is taken.
Read full speech on esma.europa.eu ↗

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