With the latest major initiative (decimalization) completed, the financial services industry has turned its full attention to the next big issues, global straight-through processing (GSTP) and T+1. Computer Sciences Corporation examines the revenue implications for broker-dealers, investment managers and global custodians.
At this point, it should not be necessary to explain the concepts behind GSTP and T+1. The Industry has exhaustively discussed both topics and there have been more than enough conferences held and white papers produced.
What has not been discussed is the revenue impact T+1 will have on the traditional institutional business model. The impact will play out differently for each market participant – broker/dealers, asset managers and custodians.
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