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Sell-side sounds T+2 alarm

A significant area of concern for the sell-side ahead of T+2 is the ‘long tail’ of asset managers that continue to distribute fund allocations details via emails and spreadsheets. As the industry braces itself for T+2 and reviews its operational processes to ensure they are robust enough to stand the strain of the shorter settlement timeframe, the idea that trade details need to be rekeyed or reloaded by sell-side admin staff is clearly ringing alarm bells. The opportunity for errors caused by miskeyed data increases enormously, and this manual process is too high a price to pay when the post-trade operation is focused on reducing costs.

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