NEW YORK, Sept 26 - A U.S. regulatory change to stock market transactions has financial infrastructure system CLS exploring delaying settlement instructions for foreign exchange trades, a move requested by foreign asset managers who use currency trades to fund their U.S. securities transactions.
The SEC's move is aimed at reducing market risk, an area of focus since the GameStop Corp trading frenzy. CLS is assessing whether its CLSSettlement services can accommodate later submissions, he said, and is investigating whether moving its 00:00 CET deadline for submitting instructions related to FX trades for next-day settlement would allow these trades to get into the settlement session without destabilizing markets, he added.
Doing so will require regulatory engagement among other risk assessments, said CLS, which was created in 2002 to mitigate settlement risk and settles an average of $6.5 trillion a day in FX transactions, in a market where more than $7.5 trillion changes hands daily.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FX settlement system CLS may tweak deadline to avoid US equity market rule disruptionBy Laura Matthews NEW YORK (Reuters) - A U.S. regulatory change to stock market transactions has financial infrastructure system CLS exploring delaying ...
Source: SaltWire Network - 🏆 45. / 63 Read more »
Stock market today: Wall Street drifts as the pressure keeps mounting from the bond marketNEW YORK (AP) — A sluggish day for stocks kept September on track to be the worst month of the year for Wall Street. The S&P 500 managed a gain of 0.4%, coming off its worst week in six months.
Source: SooToday - 🏆 8. / 85 Read more »
Stocks slump, struggle to shake off Fed rate worries: Stock market news todayWall Street stocks struggled to advance on Monday, as the Federal Reserve's 'higher for longer' interest rate strategy continued to pile on pressure as a US government shutdown loomed.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks struggle to shake off Fed rate worries: Stock market news todayWall Street stocks struggled to advance on Monday, as the Federal Reserve's 'higher for longer' interest rate strategy continued to pile on pressure as a US government shutdown loomed.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks rise as Wall Street halts Fed-fueled hangover: Stock market news todayWall Street stocks edged up Monday as investors assessed the Fed's path and a possible government shutdown.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks look to shake off Fed rate worries: Stock market news todayWall Street stocks struggled to advance on Monday, as the Federal Reserve's 'higher for longer' interest rate strategy continued to pile on pressure as a US government shutdown loomed.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »