Chart of the day
Leaving a legacy
Earlier this week, GreySpark published a newsletter edition that analysed the potential problems facing financial firms in their adjustment to T+1 security trade settlement in the US. In the piece, we referenced analysis from DTCC, who surveyed 287 global financial firms on the transition to T+1, with some findings outlined in the chart above.
As you can see from the chart above, one of the main factors slowing preparations for T+1 trade settlement among financial firms is “executing system changes” and dependencies on legacy technology. One could argue that the new trade settlement cycle will leave firms with no option but to innovate and move away from legacy architectures, ultimately injecting new momentum into digital transformations among firms.