client portal talk to us
News

Sterling Trading Tech Readies Broker-Dealers and Clearing Firms for May 28 T+1 Compliance

Mar 20th, 2024

Share this

CHICAGO, MARCH 20, 2024Sterling Trading Tech (STT), a leading global provider of technology in order management, risk and margin, and trading, today announced that it is working with brokerages, clearing firms, and market participants to assure their complete compliance with the SEC’s new rule to a T+1 settlement cycle on trades from the current T+2 cycle. The Rule is effective May 28, 2024.

The SEC stated on February 15, 2023: “The final rule is designed to benefit investors and reduce the credit, market, and liquidity risks in securities transactions faced by market participants.” The Rule will also affect: institutional firms; straight through processing for clearing agencies that provide central matching services; and RIAs. As with all regulatory requirements impacting operations, affected firms must be in full compliance on the effective date.

STT shares the Commission’s view that risk reduction, lower latency, and increased efficiency can only benefit investors and markets. STT is fully ready to assist clients and market participants as they prepare.

Said David Weiss, CTO, at STT: “Our team has conducted a thorough analysis and assessed all potential impacts for T+1. We are ready and fully equipped to ally with our clients on implementation. STT has taken proactive measures to implement the requirements for reporting, and we encourage all firms to communicate with their clearing firms to ensure compliance on their end. Working with our team at STT will assure seamless navigation and implementation.”




About Sterling Trading Tech
Sterling Trading Tech (STT) is a leading provider of professional trading technology solutions for the global equities, equity options and futures markets. With over 100 clients including leading brokers, clearing firms and prop groups in over 20 countries, STT provides solutions tailored to clients’ needs. STT is committed to providing fast, stable technology along with outstanding customer service. STT provides trading platforms, OMS and risk products to its clients.


Media Contact:
Magdalena Mayer
[email protected]
(312) 346-9600

Ready to get started?

We look forward to learning more about your trading needs.

Find My Solution

Check out some more resources

Newsletter

Sterling Connection

ROUND UP OF IMPORTANT NEWS & INSIGHTS FROM ...

News

Sterling Trading Tech Readies Broker-Dealers and Clearing Firms for May 28 T+1 Compliance

CHICAGO, March 20, 2024 – Sterling Trading Tech (STT), a leading global provider of ...

Interviews

Asia buy-side firms are demanding more from their tech as derivatives boom

With derivatives trading in the APAC region reaching 103.5 billion contracts in 2023 and ...

News

Sterling Trading Tech Brings Proprietary OMS and Risk Models to Asia - Korea Launched, Hong Kong and Singapore to Follow

Sterling Trading Tech (STT), a leading global provider of technology in order management, ...

 

PT

PM

Ok