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Settlement Finality: Overview of Current Law and Regulation  


Author:  Journal Staff.


Source: Volume 29, Number 06, July/August 2016 , pp.41-50(10)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

Attaining settlement finality is a bedrock goal of any modern financial system, and the law and operational practices of settlement finality have taken on a new relevance for financial institutions in light of developments such as the Depository Trust Clearing Corporation’s initiatives to enhance intraday settlement finality and move securities settlement to next day, as well as continuing technological innovations in the industry. This overview presents the primary policies, laws, and practices surrounding settlement for securities and derivatives.

Keywords: payment and settlement systems, T+1, T+3, distributed ledger technology, Securities and Exchange Act, securities exchanges, clearing agencies, Regulation SCI

Affiliations:  1: Civic Research Institute.

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