INTERVIEW | Join Danny Green, head of international post trade at Broadridge at the upcoming PostTrade 360° conference, where he will discuss the practicalities of same-day settlement in a session provocatively titled Do we really need same-day settlement? on 2 September.
Shortening the settlement cycle can bring clear benefits around risk reduction, capital efficiency and operational discipline – but it also creates new pressures.
“Moving to T+1 is already a major adjustment for many firms,” explains Green. “The question with same-day settlement is whether the market infrastructure, funding models, operating hours and post-trade workflows are truly ready to support it at scale.” He believes the key issue is how far the market can compress settlement without creating new forms of friction, cost and fragility.
“The move to T+1 naturally raises the next question: if we can shorten the cycle to one day, how much further can or should we go?” he says. “At the same time, the growth of extended trading hours and more continuous market activity is challenging assumptions built around a much narrower operating window.”
Another important development is the growing interest in AI – including agentic AI – in post-trade operations. As timelines compress, firms will need better tools to identify exceptions, coordinate workflows, manage breaks and support decision-making in real time.
This discussion should be especially relevant for operations leaders, post-trade professionals, custodians, broker-dealers, market infrastructure providers, liquidity and treasury teams and indeed anyone involved in settlement transformation. It should also be useful for firms thinking about the practical application of AI in operational environments. “I want the audience to leave with a more balanced understanding of what same-day settlement would mean in reality,” says Green.
“There are genuine benefits to faster settlement but also significant implications for funding, liquidity, resilience and market coordination. I would also expect the conversation to highlight that firms should be preparing not only for shorter cycles but for a broader shift towards more automated, more responsive and potentially more continuous post-trade operating models.”
