T+1, the security industry's big technological initiative, is rolling through corporate financial systems, seemingly far removed from mutual fund portfolio managers' trading floors, or even their busy back offices.

But make no mistake, the initiative to move trade settlement from the current three days to just one day - known as trade, plus one, or T+1(the industry moved from T+5 to the current T+3 in the mid 90's) - will happen despite delays. In fact, straight-through processing (STP), the system that will lead to T+1, is already making its presence felt. Financial service professionals who think this is an issue for a handful of corporate propeller heads are missing the point.

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