Trading infrastructure
Trading infrastructure
Moscow Exchange Likely to Introduce T+N This Year
02.10.2012 12:52 / Interfax
"Technically we will be ready to launch T+N settlement by the end of the year, however T+0 will not terminate this year. We want markt participants to get ready", he said.
According to him, T+N and T+0 trading will run parallel for a few months, with final timeframes currently in discussion with market participants.
He noted that the choice between T+3 and T+2 settlement has not been made yet.
Alexander Afanasiev also stated that different trading participants need different settlement. T+2 is more suitable for banks, since these trades are not considered forward transactions and are easier to account for. T+2 settlement is also better suited for curency trading.
On the other hand, cross-border "arbitrators" are more interested in T+3, as in London.
Afanasyev also said that by the time of the exchange IPO, two OpenBooks with various calculation types will be active.