Panel Discussion | A Move to T+1: Implications and Considerations for FX Markets

On May 9, we hosted an online panel discussion on the impending shift to a T+1 settlement cycle, set to impact the way we approach FX trading from May 28, 2024.

Panelists:

• Neal Stephan, Global Head of FX Program Trading Execution Markets, BNY Mellon
• Gabino Roche Jr, CEO & Founder, Saphyre
• Alan Dweck, COO, Buyside Solutions, SGX FX

Moderator: Scott Gold, Head of Sales, Buyside, Americas, SGX FX

Among the key topics discussed were:

· The strategic value and considerations for establishing a US desk to manage FX exposures more efficiently.
· Various methods utilised by asset managers to pre-fund accounts, alongside the hurdles and costs this entails.
· The potential advantages and drawbacks of outsourcing the management of shorter settlement cycles to custodians.
· The crucial role of technology in navigating and leveraging the T+1 transition effectively.