The currency exchange implications of faster settlement and steps to take in response

Katie Renouf
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Katie Renouf: Mesirow Financial International (UK) Ltd, UK

Journal of Securities Operations & Custody, 2025, vol. 17, issue 3, 253-260

Abstract: This paper seeks to reflect on the contributing factors to the successful market implementation of US T+1, with specific focus on the foreign exchange (FX) market. It aims to explore and equip readers with the FX and liquidity management considerations as we look ahead to the UK, European Union (EU) and Swiss adoption of the same. How might this differ from the US rollout, and might it be complacent to assume that a copy/paste approach will work this time around? The paper also looks at industry and tech innovation, and whether any seismic changes can be anticipated in time for October 2027. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.

Keywords: foreign exchange; FX; currency; T+1; DLT; hedging (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jsoc00:y:2025:v:17:i:3:p:253-260

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