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GBST confirms 'T+2' readiness

By Reporter
1 minute read

Securities transaction software provider GBST has announced it is prepared for the T+2 ASX settlement regime, which has a target date of 7 March 2016.

GBST has positioned itself as the first software provider to be ready for the T+2 settlement regime for Australian equities, claiming readiness on 18 December 2015.

Chief executive of GBST Capital Markets, Denis Orrock, pointed to GBST's "early and comprehensive" research of settlement cycle developments around the world.

"GBST Shares is the most widely used back-office platform in the Australian equities market, and we are proud to be showing our continued commitment to Australian market participants," Mr Orrock said.

The ASX has a current target date of 7 March 2016 for the move from T+3 settlement for cash equities to T+2.

The move will align Australia with settlement practices around the world, including in Hong Kong and Europe, where many countries adopted T+2 settlement in October 2014. 

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