Jon Ford, Head of Fixed Income Business Solutions, features in the Securities Finance Times Repo Annual 2026, making the case for why gross settlement in repo is a problem the industry can no longer afford to carry, and why the move to T+1 makes solving it structurally urgent.
Jon maps the compounding cost of gross settlement across fails, penalties, intraday liquidity and operational overhead. Moreover, with the EU Gating Event now confirmed as a core part of the T+1 infrastructure rolling out in October 2027, Jon argues that automated pair-off netting is the critical path for any repo desk operating in European fixed income.