The companies, products and regulatory developments shaping the broker industry.
A November joint regulatory forum commits both sides to work together on reporting, market data and October 2027 settlement, but it does not announce restored equivalence or a unified cross-border licence.
The October conclusions replace April’s indicative Q4 2027 timetable. Brokers, custodians and investors face changes to same-day matching, funding and operational preparation before a final migration date is set.
Firms must standardise allocation and confirmation communications well before the formal move to next-day settlement.
Anthony Attia wants to bring forward Australia’s move to next-business-day settlement. The proposal reopens the timing debate while ASX is addressing material infrastructure and governance weaknesses.
HKEX’s second-half 2028 target gives the market more preparation time than its original fourth-quarter 2027 proposal. The roadmap adds settlement windows, free-of-payment runs and shared data tools to compress funding and matching into the shorter cycle.
The settlement cycle will not shorten until October 2027, but mandatory electronic allocation and confirmation standards start on 7 December 2026.
The change addresses an extra processing step when investment-adviser instructions arrive after trade date. Same-day allocation obligations and protections against favouring accounts remain in place.