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New Coalition Greenwich report highlights the urgent need for tech and automation in capital markets.
The T+1 implementation deadline in 2024 is fast approaching, sparking concerns about readiness amongst market participants.
The study involved over 60 C-suite and senior leaders, revealing complexities in process automation due to data volume.
Key insights:
Deadline alert: May 28, 2024, has been set as the deadline for next-day trade settlements. A swift trade lifecycle is now more important than ever.
Risk warning: Manual processes in up to 20% of reconciliations risk missed settlements and potential losses.
Data surge: The rise in data volumes, coupled with new regulatory requirements, is driving firms towards technology for data cleaning, standardization, and automation.
Tech urgency: Firms using in-house systems may face hurdles with tighter trade cycles. Embracing streamlined technology to meet T+1 requirements is crucial.
