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Automate for T+1 and avoid US’s mistakes, UK financial services providers are urged

By Sofia Gerace ( February 10, 2025, 16:38 GMT | Insight) -- A UK industry group, tasked with advising government and industry on how to move to the T+1 trade settlement cycle, has said that financial services providers must begin automating now. The group observed that an “insufficient focus” on innovation in the US — which moved to T+1 last May — has led to increased staffing costs for the industry.UK financial services providers have been urged to adopt automation quickly ahead the switch to the one-day trade settlement cycle, after an industry group highlighted that US providers — which switched to T+1 last year — faced costs for not automating quickly enough....

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