Zodia Markets has been successful in executing FX with crypto trades.
Sell-side veteran cites settlement risk as the number one challenge for market participants.
As settlement accelerates, firms are looking closely at their post-trade processes.
FX is the biggest concern for the buy side when the US shortens its settlement cycle.
The UK Accelerated Settlement Taskforce has set a target date of 2027.
Trade affirmations that would make the cutoff time rose only to 74.5% in February.
ESMA aims to deliver its final assessment on shortening the EU's settlement cycle by 17 January 2025.
Market participants across the globe face a growing list of challenges in trade settlement.
The Australian exchange has appointed TATA Consultancy Services to replace its clearing and settlement system.
