DTCC sets out T+1 proposal as accelerated clearing gains momentum in US

The pandemic may have revealed the margin expense of volatility, but the recent “meme-stock” controversy certainly punctuated it. And as calls for shortening the settlement cycle to mitigate associated risks grow, the Depository Trust & Clearing Corporation (DTCC) is proposing a two-year industry roadmap for US equities to shift to T+1. Here are some of the points made at an analyst briefing with Murray Pozmanter, head of Clearing Agency Services and Global Business Operations at DTCC, and Michael McClain, DTCC’s managing director and general manager of Equity Clearing and DTCC Settlement Services.

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