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Trade failures drop as Wall Street clears last major T+1 hurdle

"The implementation of T+1 has been relatively smooth," said Tiago Veiga, Cheif Executive at Aurum Solutions, which runs a trade reconciliation platform. While there were "teething problems" among some market participants, "a lot of our customers started to automate manual processes to cope with this added pressure well in advance of the go-live, so we're hopeful that there aren't any serious hiccups down the road," he said.