Crunch time nears for forex traders on faster trading

A shift to halve the settlement time for US equities to just one day in May could leave the forex market out of sync with its equity peers. — Bloomberg

NEW YORK: There’s one topic dominating the agenda as foreign-exchange (forex) traders descend on Miami this week: how the currency market can adjust to a fast-approaching change to US stock settlements that stands to shake-up their industry.

Representatives from all corners of the US$7.5 trillion-a-day global currency market will gather at TradeTech FX USA 2024, an annual meeting that is set to draw about 600 participants this year, to discuss everything from the timing of the Federal Reserve’s rate cuts to the role of artificial intelligence.