Depositories

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LCH.Clearnet to buy out Euronext

/Depositories

LCH.Clearnet to buy out Euronext

London clearing house LCH.CLearnet has reached an agreement in principle to buy out pan-European exchange Euronext, its largest shareholder.

ECSDA rails against ECB's plan for pan-European settlement system

/Depositories

ECSDA rails against ECB's plan for pan-European settlement system

The European Central Securities Depositories Association (ECSDA) has called for the European Central Bank (ECB) to postpone plans to implement an integrated securities settlement system in the euro zone until it is known how the platform will be governed and operated.

Euronext lays out MiFID trading strategy; Nasdaq talks up Turquoise threat

/Depositories

Euronext lays out MiFID trading strategy; Nasdaq talks up Turquoise threat

European exchange Euronext is to introduce a 'best execution' algorithm, real-time dissemination of off-orderbook trades and new transaction reporting services under preparations for the arrival of the EU-wide Markets in Financial Instruments Directive (MiFID).

Pan-euro settlement system will slash costs, says ECB

/Depositories

Pan-euro settlement system will slash costs, says ECB

The European Central Bank believes the implementation of an integrated securities settlement system in the euro zone could cut settlement costs by up to 90%.

Morgan Stanley increases Clearing Corp stake

/Depositories

Morgan Stanley increases Clearing Corp stake

US investment bank Morgan Stanley has increased its stake in the Chicago-based Clearing Corporation from one to seven per cent after it paid $4.4 million for shares in the clearing unit that were formerly held by Refco.

GFI and Icap acquire stakes in the Clearing Corporation

/Depositories

GFI and Icap acquire stakes in the Clearing Corporation

Interdealer brokers GFI and Icap are to acquire undisclosed minority interest stakes in the Chicago-based Clearing Corporation under plans to expand their participation in over-the-counter derivatives trading.

Deutsche Börse implements first step of clearing and settlement code

/Depositories

Deutsche Börse implements first step of clearing and settlement code

German exchange Deutsche Börse says it has implemented the first step of the EC-endorsed code of conduct - which aims to reduce the costs of cross-border trading - by publishing prices for equities trading, clearing and settlement online.

Euroclear buys EMXCo

/Depositories

Euroclear buys EMXCo

Brussels-based depository Euroclear has signed an agreement to acquire the UK's EMXCo, a provider of electronic messaging technology that automates the dealing and settlement of mutual funds. Financial terms of the transaction were not disclosed.

Barclays Global Investors outsources European investment ops to JPMorgan

/Depositories

Barclays Global Investors outsources European investment ops to JPMorgan

Barclays Global Investors (BGI) has outsourced the bulk of its European investment operations to JPMorgan Worldwide Securities Services.

Finexpo switches venue to cope with rising numbers

/Depositories

Finexpo switches venue to cope with rising numbers

Finexpo, the leading London conference and technology exhibition for City investment professionals, is set to celebrate its fifth anniversary with a move to a new venue in an effort to cater for rising delegate numbers.

EBA Clearing banks to cut costs with new workstation

/Depositories

EBA Clearing banks to cut costs with new workstation

EBA Clearing has teamed with interbank network Swift to launch IWS-Browse, an interactive workstation (IWS) that enables banks to monitor and control their payment flows on the Euro1/Step1 platform and across other market infrastructures.

DTCC launches Trade Information Warehouse for OTC derivatives processing

/Depositories

DTCC launches Trade Information Warehouse for OTC derivatives processing

The Depository Trust and Clearing Corporation has announced the formal launch of its Trade Information Warehouse, designed to reduce risk and automate post-trade processes in the over-the-counter derivatives markets.

Euronext set to sell LCH.Clearnet stake

/Depositories

Euronext set to sell LCH.Clearnet stake

Pan-European exchange Euronext is in talks to sell its 41.5% stake in LCH.Clearnet back to the London Clearing House for a rumoured EUR500 million.

European exchanges agree clearing and settlement code

/Depositories

European exchanges agree clearing and settlement code

European stock exchanges are set to sign up to a code of conduct designed to slash the cost of trading shares across borders by injecting more transparency and competition into clearing and settlement operations.

National Bank of Kuwait live with Vermeg securities processing platform

/Depositories

National Bank of Kuwait live with Vermeg securities processing platform

The National Bank of Kuwait (NBK) has gone live with Vermeg's J2EE-based securities processing platform Megara and corporate actions system Megacor.

SGX to launch post-trade processing service

/Depositories

SGX to launch post-trade processing service

Singapore Exchange (SGX)is deploying CheckFree TradeFlow in its SGX Prime service for post-trade processing of securities at the exchange's central depository.

OMX sells stake in securities depository VPC

/Depositories

OMX sells stake in securities depository VPC

Scandinavian trading technology vendor OMX has made a capital gain of SKr80 million from the sale of its 19.78% stake in Swedish securities depository VPC.

Euroclear and Clearstream enhance daytime bridge link

/Depositories

Euroclear and Clearstream enhance daytime bridge link

Euroclear and Clearstream are enhancing the existing automated daytime 'bridge' between the two securities depositories to increase the capacity for same-day transaction settlement and securities financing.

Borsa Italiana chief outlines plans for EUR21.5bn pan-European super exchange

/Depositories

Borsa Italiana chief outlines plans for EUR21.5bn pan-European super exchange

Massimo Capuano, the chief executive of Borsa Italiana, has outlined a EUR21.5bn proposal to merge the Italian market with its larger rivals Euronext and Deutsche Börse to create a pan-European super exchange.

Eurex Clearing sets sight on UK market

/Depositories

Eurex Clearing sets sight on UK market

Deutsche Börse's clearing subsidiary Eurex Clearing has applied to UK financial regulators for permission to operate in London.

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