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Almost a decade ago, Europe led the way in shortening the settlement cycle to T+2 – a task that required wholesale re-engineering of European market-structure. Mere months from now, European securities firms will again be challenged – this time with the move to US NEXT-DAY settlement. Once more, our market participants face a complete restructuring of entire organisational workflows.

Started in 2014 as a messaging platform to enable data security and compliance, today Symphony is a leading common connector for market workflows. Among other things, Symphony provides more than half a million users with secure tele-conferencing services. At the core of these services lies a piece of software tech known as Selective Forwarding Unit (SFU). We call it Symphony Media Bridge (SMB).

The SEC has adopted a final rule to shorten the standard settlement cycle for most securities transactions from two business days (T+2) to one business day following the trade date (T+1). The reduced settlement period is forcing companies to reexamine their post-trade processes and procedures, which include communication methods. This article discusses several operating model changes to help with the transition to T+1 ahead of the compliance deadline of May 28, 2024.

Ever since the financial crisis of 2018 led to the restructuring of the global financial architecture, market participants have been required to meet increasingly stringent regulatory requirements. This trend is only intensifying.

At Symphony, our job is to provide you with the capabilities to be more effective in your role. Through us, you can glean better insights from more of your data. We believe technology should empower the individual and company, helping you create a competitive advantage.

The Finance community is struggling to adapt to a rapid evolution in communication practices. Technology has altered how clients and colleagues want to interact with one another.

More than ever before, business success depends upon an organization’s ability to communicate quickly and effectively. It’s clear that the “workplace” has radically changed. This new landscape demands three things from every company’s communication tools: