Reported 4 months ago
The rate of failed U.S. trades was 1.90% on Wednesday, remaining roughly stable with the introduction of a faster settlement cycle, according to the Depository Trust & Clearing Corporation. The average fail rate in May, before the faster settlement, was 2.01%. Market participants expected an increase to 4.1% after the T+1 implementation but it remained lower. Affirmation rate also rose to 94.55%, indicating successful trade settlements. Despite a smooth transition to T+1, it's early to predict if rates will stay steady, with a more comprehensive analysis needed in a couple of weeks.
Source: YAHOO