It’s not too early to think about T+0 – even though the industry is still grappling with the prospect of T+1, says Kamal Kannan. At the upcoming PostTrade 360° 2025 conference, the business transformation manager and product director for Securities Services solutions at S&P Global Market Intelligence will discuss the implications and challenges of further acceleration in a session titled “The flavours of T+0”.
“We should already be addressing our problems from a T+0 perspective, because you never know what technological advancements would come later, or what changes would happen in the market that might force us to go to T+0 very quickly,” Kannan points out. The transition from T+3 to T+2 in the US took 22 years, but the move from T+2 to T+1 took just seven. The transition from T+1 to T+0 might thus be even faster.
Useful lessons
The session will present models for the transition to T+0 and address the challenges of a further compression of the settlement cycle. “The problems that might occur in T+0 might also occur in T+1 – but they would be exacerbated,” Kannan says.
Fortunately, even though the problems might remain, lessons from the T+1 transition are likely to help the industry prepare for T+0. He reveals that the current discussion about T+1 has resulted in many models for shortening the settlement cycle. These models can be applied to compressed activities in a T+0 scenario, then assessed for whether they are suitable for the further acceleration.
Have you signed up yet to be in Stockholm for PostTrade 360° 2025 on 3–4 September? It’s free for securities operations pros, both trading and investor sides! (Vendor firm representatives need a sponsorship agreement.) The powerful event website lets you register, see all other delegates, schedule sessions and meetings, and message. Find all related articles, including loads of teaser interviews, here.
