US stock changes affect Asia forex trades

The changes will leave the United States out of step with most other currency and global stock markets, which settle in two days. — Reuters

A shortening of US stock settlement window next week is expected to upend trading for Asian money managers, pushing some to secure funds in the early hours of their mornings when currency markets are at their thinnest and most jumpy.

From May 28, investors from Singapore, Tokyo or Seoul who buy US shares during the Wall Street day will have just 24 hours to validate their trades and convert their funds into dollars to complete the deals, down from two days previously.

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