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Real time reconcilations are mandatory accross asset class if T+2 has any chance of working. Its just amazing the the vast majority of FS firms still use spreadsheets as their main reconciliation tool

This could turn out to be the best and most creative development by SWIFT in years. It has wide spread market benefits accross asset classes and have some great possibilities for future development. Nice to know someone at SWIFT is thinking laterally

Now were cooking on gas. This is a perfect move by SWIFT and the SmartStream technology just right in moving Post Trade matching and other services into the offices of i expect many more new clients. This is now looking like a great alternative to OMGEO and other post trade matching firms

Considering that something had to be done and there is no perfect solution these proposed changes look sensible and more importantly achievable. The markets can not continue as they are and have to be managed for the good of investors,the economy and society and although not wonderful the proposals will provide benefits and hopefully normality

Complicated or what but at least progress is being made on all fronts and a live date should focus the minds. Its really important that there is a industry wide training of LEI to both and sell sectors. Including software suppliers in this might be a good way of mobilising everyone 

It looks to me Chris that the CSDs will be all using SWIFT to fit their existing set up with everybody else in a position to chose network and as you say ISO20022 provides this capability. It will still mean that T2S benefits can only be realised if Custodians presumably have to translate/integrate ISO20022 messages with their CSDs T2S connection.Fom the investing and broking community aspect i cant see that they will be at a dissadvantage 

It does depend on the definition of STP but as all CA pros know there is no such thing as STP in CA. I always doubt a presentation that starts with STP in CA and i doubt this survey has been conducted by asking the right questions. Afterall you can pitch a question to get the answer you want. However its true that huge benefits have been gained by messageing standards but the standard that is now needed is market practice

I am not sure this can count as a win as it was the only logical choice.T2S could hardly work without SWIFT

I have to agree with this conclusion.My fear is liquidity failings will prove the most serious risk as markets fragment and build pressures undetected until too late.One failing of a market would quickly pass from one too the other.The solution is to look at a combination of responces to market problems that do not create a move round of risk affecting all in due course

Thanks Bruce times may change in the markets but the basics always stay the same.I wonder sometimes if the whole industry is being run by dummies