Trading operations: Intelligent automation and the T+1 mandate

Laura Ryan, John Almeida and Alan Paris
Additional contact information
Laura Ryan: ServiceNow, USA
John Almeida: Global Head, Wealth & Asset Management, ServiceNow, USA
Alan Paris: Principal Success Architect, ServiceNow, USA

Journal of Securities Operations & Custody, 2023, vol. 16, issue 1, 70-85

Abstract: As the financial services industry is finalising the adoption and implementation of the shortened settlement cycle on 28th May, 2024, and its implications to procedures, technology and behaviour, this paper lays out the benefits, challenges and best practices to ensure a smooth transition and implementation to all participants. The implications of these changes are enormous and open companies up to a variety of risks. This paper informs best practices to ensure a seamless integration, including operational, risk and communications. In addition, the paper focuses on practical steps to automating processes, centralising data and utilising technology to create a more efficient future. It points out that by utilising technology as a mechanism for continuous improvement, not only will companies be able to meet implementation requirements of this T+1 mandate but also create a mechanism to continue to meet regulatory changes. By utilising technology to create an environment of continuous improvement, powered by work orchestration, a fundamental shift in workforce behaviour can begin. In doing so, companies can ensure that they meet the operational requirements of this mandate, leading to efficiencies throughout their organisation and an improved employee and client experience.

Keywords: work orchestration; post-trade processing; streamlining; technology and automation; continuous improvement; trading operations; T+1; capital markets; asset management; banking; wealth management; trade settlement (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2023
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