U.S. urges Britain to pick a date for stock market shake up

Source: theglobeandmail.com theglobeandmail.com

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Britain should set a date for halving the time it takes to settle a stock trade - and stick with it, U.S. Securities and Exchange Commission Chair Gary Gensler said on Thursday. Britain has said that UK stock markets should halve the time it takes to settle a trade on the London Stock Exchange and other platforms by the end of 2027, at the latest, to match Wall Street’s move last month to complete a stock trade within one business day (T+1). Canada and Mexico also shifted to T+1 last month to cut risks in markets and save on trading...