Beginning Jan. 1, 2015, European financial markets will switch to a T+2 trade settlement cycle and experts say the U.S. likely will also shift to a shorter settlement cycle. Tony Freeman, Omgeo's executive director of industry relations, said he finds it "quite amazing" that settling a trade still requires three days. "Regulators keep asking why it takes so long," he said. Visit SIFMA's resource center for more on settlement-cycle developments.

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