ISSA Response to UK Accelerated Settlement Draft Recommendations Consultation

On 31 October, ISSA provided a response to the “Accelerated Settlement Task Force, Technical Group Draft Recommendations Report & Consultation”. In our response, we noted the breadth of the draft recommendations and how they are consistent with the recommendations ISSA made in its white paper on “T+1 Global Impacts”.  Specific topics addressed in ISSA’s response include dual-listed instruments, trade agreement by executing parties on Trade Date, the treatment of the proposed “Code of Conduct”, the timing of Securities Recall Requests and subsequent return of the borrowed securities, and the benefits of implementing several of the requirements in advance of the selected target date for the T+1 implementation.

ISSA’s response letter can be accessed at this link.