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Event Summary
Moving from T+1 to T+0 To Tokenised Assets
An ISITC Europe Roundtable Discussion in Association with the CISI and PIMFA
Hosted by
Date: Thursday 19th June
Venue: Room 8.02, One Canada Square, London, E14 5AA
Time: 16:00 (Registration from – 15:30) Welcome / Opening Address followed by roundtable discussion
18:00 Close Followed by Networking drinks until 19:00
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T+1 will be the UK industry settlement standard in October 2027, with the EU and Switzerland moving on the same date. T+1 is in reality real-time processing! Some market exchanges have already stated a move to 23-hour trading/investing, and this is just the beginning, as more are bound to follow. Will 24-hour trading/investing follow soon after? On that basis moving to T+0 seems inevitable! This means all market firms, their clients, CSDs and clearing houses need to operate industry-wide in real-time. However, batch processing and old systems dominate the financial markets, so is real-time processing even possible?
International execution and settlement form a large part of all countries’ capital markets, so marrying domestic processes with international is non-negotiable. Failure by firms to react to increasing acceleration and widening of the business day could be terminal at worst, at best they will lag behind their competitors. Firms need to plan today to produce efficient continuous real-time settlement for domestic and international investors or risk a loss of business. Urgent action needs to be taken by all firms that make up financial markets, but what do they need to do and when should they budget?
Tokenised assets are growing almost exponentially as a core product for raising capital and investment. Digital assets / cryptocurrencies with all their various product types including decentralised Finance (DeFi) will become a major alternative to the traditional markets. Digital platforms, digital products, and digital currency, look like they will either replace traditional markets or run in parallel. What should firms do today to prepare for the real time domestic and international settlement as digital platforms and products rise? Should they combine or replace?
This ISITC Europe roundtable will aim to discuss this sea change in the capital markets, with senior professionals from across the industry and explore some of these questions.
- How do I protect my business from being left behind?
- What opportunities can firms take and what are the threats?
- Where do I start to build for the future?
- What will be the structure of the markets in the future?
- What will happen to FX settlement?
- What will be the effects on market liquidity?
- Do firms invest in new technology and if so, what?
- Can firms existing systems cope or be adapted to manage the changes in traditional markets and digital assets?
- How should firms futureproof their business?
- How can firms invest in change and where should budgets be applied?
Each roundtable will be conducted under the Chatham House Rule, where no individual or company will be named, to facilitate a free and frank exchange of views. Sessions will be moderated by a member of the ISITC Europe.
