Invesco’s Goldie on T+1 settlement challenges in Europe

The US is set to move to a T+1 settlement regime by May 2024

Tom Eckett

Jim Goldie, head of ETF capital markets and indexed solutions, EMEA, at Invesco, has called on the EU and the UK to harmonise the move to T+1 settlement.

In a recent ETF Stream webinar, titled ETF Investigations: The European ETF market’s biggest trends in 2023, Goldie predicted a move to T+1 settlement in Europe could be implemented anywhere between 2026 and 2029.

The US is gearing up to move to a T+1 settlement cycle in May 2024, a move that is designed to reduce credit, market and liquidity risks.

However, the fragmented nature of the European market and the introduction of the Central Securities Depositary Regime (CSDR) in February 2022 has created acute challenges for the continent.

“Post-Brexit, the UK and the EU are moving in different directions,” Goldie continued. “From a UK perspective, it is far easier [to move to T+1] because there is one currency and one main clearing house. However, we would like to see harmonisation with the EU.”

Speakers in this webinar include:

  • Ciaran Fitzpatrick, head of ETF solutions for Europe, State Street

  • Marie Coady, global ETF leader, PwC

  • Jim Goldie, head of ETF capital markets and indexed solutions, EMEA, Invesco

ETF Investigations is a new webinar series from ETF Stream which examines the key issues facing ETF investors in Europe. To watch a full replay of this webinar, click here.


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