European banks and fund managers are urging the Brussels side to make a public commitment to shorten the settlement cycle for EU stock and bond transactions. Currently, both the US and the UK are advancing their respective market modernization plans. On the 14th, a working group representing 18 market lobbying groups called on the EU authorities to make a “formal commitment” to reform the settlement schedule. The task force, led by the European Financial Markets Association, also called on the EU to set a time frame for the industry to prepare.

European banks and fund managers are urging the Brussels side to make a public commitment to shorten the settlement cycle for EU stock and bond transactions. Currently, both the US and the UK are advancing their respective market modernization plans. On the 14th, a working group representing 18 market lobbying groups called on the EU authorities to make a “formal commitment” to reform the settlement schedule. The task force, led by the European Financial Markets Association, also called on the EU to set a time frame for the industry to prepare.