Faster settlement poses challenge to Japanese trustees

Japanese trust banks must be more flexible if Japan is to keep up when the US moves to one-day settlement.

The United States is not officially adopting a one-day settlement cycle (T+1) until June 2004, but in reality all its institutions must be ready to trade on a T+1 basis one year in advance. Other countries will be forced to keep up. But Japan's progress may be impeded by structural issues.

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