Journal Article
Explaining settlement fails
Abstract: The Federal Reserve now makes available current and historical data on trades in U.S. Treasury and other securities that fail to settle as scheduled. An analysis of the data reveals substantial variation in the frequency of fails over the 1990-2004 period. It also suggests that surges in fails sometimes result from operational disruptions, but often reflect market participants' insufficient incentive to avoid failing.
Keywords: Electronic trading of securities; Government securities;
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Bibliographic Information
Provider: Federal Reserve Bank of New York
Part of Series: Current Issues in Economics and Finance
Publication Date: 2005
Volume: 11
Issue: Sep
Order Number: 9