Settlement Vendor Plans to Compete With DTC Monopoly
Traders Magazine, January 1999
One of the more arcane elements of the institutional-clearing and settlement cycle is on the road to extinction.
At the moment, institutional brokers send trade confirmations to their institutional clients for subsequent affirmation. With the equity-transaction settlement cycle expected to shrink within three years from three days after trade execution to one day following the trade block trades will eventually no longer be confirmed and affirmed the conventional way.
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