ISITC EUROPE CIC

🎙️ T+1: A Costly Shift Without a Cause? In the latest episode of the FTF Exchange podcast, industry expert Gary Wright shares his sharp critique of the T+1 settlement cycle. He argues that the move to T+1 forces outdated systems into inefficient processes, adding significant costs without delivering real innovation. Wright dives into the operational challenges and questions whether the anticipated benefits truly justify the upheaval for financial institutions. Are we solving problems or creating new ones? 💡 Tune in to explore the hidden costs of T+1 and its implications for the financial services industry. 👉 Listen now: https://lnkd.in/eE82vVGZ #TPlus1 #FinancialServices #FTFExchange #Podcast #CapitalMarkets

🎙️ T+1: A Costly Shift Without a Cause? In the latest episode of the FTF Exchange podcast, industry expert Gary Wright shares his sharp critique of the T+1 settlement cycle. He argues that the move to T+1 forces outdated systems into inefficient processes, adding significant costs without delivering real innovation. Wright dives into the operational challenges and questions whether the anticipated benefits truly justify the upheaval for financial institutions. Are we solving problems or creating new ones? 💡 Tune in to explore the hidden costs of T+1 and its implications for the financial services industry. 👉 Listen now: https://lnkd.in/eE82vVGZ #TPlus1 #FinancialServices #FTFExchange #Podcast #CapitalMarkets

For podcast enthusiasts - please find through the link a series on UK T+1 hosted by ISITC EUROPE CIC: https://lnkd.in/eu-SVupb The series kicks off with an overview by our Technical Group Chair, Andrew Douglas: well worth a listen for key messages conveyed in our Report. The second is on legal/regulatory consideration by yours truly and my awesome co-lead, Ashley Rowlands. Other workstream leads from the Technical Group take it from there. Key legal/regulatory points: ➡️ We are working closely with public authorities but - so far - our Recommendations should not be taken as accepted by them or as a given. Dialogue continues and we are very grateful for their engagement. ➡️ Our overarching premise is founded on the Physician's Creed: "first, do no harm". The UK framework - in terms of how law and regulation interact with market practice - has proven highly effective in the current settlement environment. We decided early on to refrain from fixing what isn't broken and recommend only truly necessary changes in law or regulation, which we continue to believe should be minimal. ➡️ We are gratified to see ESMA's just published Report for the EU, including the expected implementation date of 11th October 2027. However, we will still need to provide for a contingency plan in the event the UK and the EU misalign (despite best intentions to avoid this). The focus in this regard is Eurobonds and exchange-traded products. ➡️ Particular emphasis has been on using all the Recommendations coming out of the Report to create market guidance that - whilst not "legally enforceable" - represents a clear benchmark against which market participants will be supervised by regulatory authorities and which will establish clear expectations in the market - including with respect to those operating outside the UK. We look forward to taking this project to completion when the Final Report is published in January. #acceleratedsettlement #UKT1

In this FTF Exchange podcast series episode, FTF’s Maureen Lowe and Nick Holland have a lively conversation with industry veteran Gary Wright Director Industry Affairs ISITC EUROPE CIC about T+1 in North America and beyond. In this episode, Maureen Lowe and Nick Holland discuss T+1’s implications with industry veteran Gary Wright, who notes, 'T+1 doesn’t bring innovation—it just forces old systems to operate in ways they were never designed for, creating inefficiencies rather than solving them.' https://lnkd.in/e9grUcTW

For podcast enthusiasts - please find through the link a series on UK T+1 hosted by ISITC EUROPE CIC: https://lnkd.in/eu-SVupb The series kicks off with an overview by our Technical Group Chair, Andrew Douglas: well worth a listen for key messages conveyed in our Report. The second is on legal/regulatory consideration by yours truly and my awesome co-lead, Ashley Rowlands. Other workstream leads from the Technical Group take it from there. Key legal/regulatory points: ➡️ We are working closely with public authorities but - so far - our Recommendations should not be taken as accepted by them or as a given. Dialogue continues and we are very grateful for their engagement. ➡️ Our overarching premise is founded on the Physician's Creed: "first, do no harm". The UK framework - in terms of how law and regulation interact with market practice - has proven highly effective in the current settlement environment. We decided early on to refrain from fixing what isn't broken and recommend only truly necessary changes in law or regulation, which we continue to believe should be minimal. ➡️ We are gratified to see ESMA's just published Report for the EU, including the expected implementation date of 11th October 2027. However, we will still need to provide for a contingency plan in the event the UK and the EU misalign (despite best intentions to avoid this). The focus in this regard is Eurobonds and exchange-traded products. ➡️ Particular emphasis has been on using all the Recommendations coming out of the Report to create market guidance that - whilst not "legally enforceable" - represents a clear benchmark against which market participants will be supervised by regulatory authorities and which will establish clear expectations in the market - including with respect to those operating outside the UK. We look forward to taking this project to completion when the Final Report is published in January. #acceleratedsettlement #UKT1

The owner of the London Stock Exchange has sold its minority stake in financial markets infrastructure provider Euroclear for £455m. The London Stock Exchange Group (LSEG) said on Thursday that it completed the divestment of its 4.92 per cent holding in the Belgium-based firm. It sold the stake to TCorp, the investment and financial management partner of the New South Wales government in Australia. The sale means a hefty return for LSEG after it bought the stake for €278.5m (£241.9m) in 2019. The latest deal gives Euroclear an implied valuation of roughly £9.25bn. Read the full story here 👇 https://lnkd.in/dujBS9Cp

As someone who has spent their career in securities finance, I am probably a bit biased on the topic of short selling. The good news is that slowly I have seen a wider global acceptance of the practice as the years go by. I was sent the article below by the one and only Laurent K. as he knows this topic is near and dear to my heart. The article is written by Byron Gilliam, a markets strategist and newsletter writer and provides a useful layman's explanation of the case for short sellers. In fact he describes it as "heroism". Short sellers play an essential yet often misunderstood role in financial markets. By betting against overvalued or fundamentally weak companies, they promote price discovery, market efficiency, and corporate accountability. Their work often exposes hidden risks—such as unsustainable business models or poor governance—helping investors make better-informed decisions. Short sellers also boost liquidity by increasing trading volumes, narrowing bid-ask spreads, and enabling markets to adjust quickly to new information. While their actions can be controversial, short sellers act as a counterbalance to excessive optimism, preventing market bubbles and ensuring a healthier financial ecosystem. Far from being market disruptors, they are catalysts for transparency and efficiency. It’s time to recognise their contributions and rethink outdated misconceptions. #shortselling #markets #investing #securitieslending #securitiesfinance