Major financial groups are urging the U.S. Securities and Exchange Commission (SEC) to extend the timeline for the overhaul of the $28 trillion U.S. Treasury market. The request comes as these groups warn of potential market disruptions if the current deadline for centralized clearing, set for 2026, is not postponed. Laura Chepucavage from Bank of America emphasized that the existing timelines are overly aggressive. Additionally, a taskforce in the UK is recommending a transition date for its trading regime that aligns with the European Union, indicating a coordinated effort favored by the finance industry.