Bank of England Reviews Sterling Money Market Data Collection and Settlement
The Bank of England discussed potential reforms to sterling money market data collection and the operational impact of extending RTGS and CHAPS settlement hours.
By Orion Desk
The Bank of England and His Majesty’s Treasury are reviewing statutory powers to monitor sterling money market activity, ensuring robust data coverage as market structures evolve. Additionally, the Bank is evaluating the technical and operational implications of moving towards near 24-hour, seven-day settlement for RTGS and CHAPS systems.
Market participants underscored a strong preference for maintaining the current 09:00 publication time for SONIA despite potential shifts in settlement timing. Traders monitoring GBP instruments may note that while the current cash market remains stable, future changes to settlement processes or data collection could influence operational liquidity and market conventions.
Originally published by Bank of England
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