Since then, the problems and expense of reinventing foreign-exchange settlement have often seemed greater than the putative benefits.

ECONOMIST: Foreign exchange

Among potential problems with shorter settlement cycles were issues around securities lending, foreign exchange transaction and delivery of physical securities.

FORBES: Securities Settlement Cycle -- T+2 Gets Chatted Up But No Date

Unusually, Standard Chartered in Chennai even handles the back end of foreign-exchange trading everything except the deal itself, from confirmation through to settlement and copes with derivatives transactions as well.

ECONOMIST: India aims to become the back office for the world's banks