GSR and Virtu Financial are among the first adopters of EDXM Global.
The fintech will link with DTCC data to increase efficiency and straight-through processing.
Funding and FX requirements will be more complicated for firms operating across time zones.
The Australian exchnage is seeking stakeholder feedback by 18 June 2024.
The implementation of a T+1 settlement cycle in the U.S. is a little over one month away.
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.
