T+1 feedback report shows mixed impacts of shortening the settlement cycle in the EU

Here is a short summary of the document:

Summary:

The European Securities and Markets Authority (ESMA) has published feedback received on their Call for Evidence on shortening the settlement cycle. The feedback suggests both potential costs and benefits of a shorter settlement cycle, with respondents identifying operational impacts and emphasizing the need for a clear regulatory signal and coordination between regulators and the industry. ESMA will continue to assess the feedback, including demands for regulatory guidance, and intends to deliver its final assessment to the European Parliament and the Council by 17 January 2025.

Key points:

Feedback received on shortening the settlement cycle
Both potential costs and benefits identified
Operational impacts and coordination highlighted
ESMA to assess feedback and provide final assessment by January 2025