Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

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June 30, 2001

Rules Eyes As T+1 Settlement Moves Closer

By Gregory Bresiger

Officials of the National Association of Securities Dealers, the Securities Industry Association and the New York Stock Exchange were scheduled to meet this month to discuss what rules should be changed so they will be able to implement a T+1 settlement standard, which may be just a few years from reality.

Each organization has its own priorities in how regulators should mandate a one-day settlement standard.

Among the rules, says NYSE officials, that are likely candidates: Institutional transaction processing, which would include Rule 387 that covers cash-on-delivery orders; physical securities covered in Rule 226, settlement date rules, which are part of Rule 85. That's a rule that covers cabinet securities and Street side processing, which is part of Rule 412 and covers account transfers.

Some of the NASD's priorities for improving settlement procedures are said to include Rule 11320, which covers delivery dates. It is also interested in Rule 11620, which deals with interest computation, and Rules 11140 and 11150, which include ex-dividend processing.

The subjects that SIA wants the SEC to consider are: SRO date amendments, interoperability, in which a system can use parts of another system, and matching mandate, ensuring buyside and sellside trade terms are the same.