Depositories

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ECB launches T2S settlement harmonisation project

/Depositories

ECB launches T2S settlement harmonisation project

The European Central Bank is to press ahead with the launch of its contentious settlement harmonisation project Target2-Securities and has assigned the development and operation of the facility to the Deutsche Bundesbank, the Banco de España, the Banque de France and the Banca d'Italia.

Link Up Markets contracts with Clearstream for IT build

/Depositories

Link Up Markets contracts with Clearstream for IT build

European depository Clearstream is to work with Tata Consultancy Services to develop and operate the IT infrastructure for Link Up Markets, the settlement services joint venture company set up by seven European CSDs.

ICE Clear Europe further delays London clearing launch

/Depositories

ICE Clear Europe further delays London clearing launch

Energy derivatives exchange ICE Clear Europe has further delayed the launch of its new London clearing house until September, due to technical issues associated with the transfer of traders' open interest positions from incumbent clearer LCH.Clearnet.

Liffe eyes over-the-counter CDS market

/Depositories

Liffe eyes over-the-counter CDS market

London's Liffe is looking to break into the market for credit default swaps with the launch of a new set of contracts and integrated OTC clearing through its Bclear operation.

EuroCCP claims lowest clearing costs in Europe

/Depositories

EuroCCP claims lowest clearing costs in Europe

If European firms used the EuroCCP platform to clear all trades, the industry could slash costs and save around EUR350 million a year, claims the DTCC subsidiary.

SocGen Securities Services forms global IT and back office units

/Depositories

SocGen Securities Services forms global IT and back office units

Société Générale Securities Services (SGSS) is establishing global divisions for its technology and back office operations as part of a major organisational overhaul.

Industry association to probe exchange clearing

/Depositories

Industry association to probe exchange clearing

The Futures and Options Association (FOA) is to probe plans by IntercontinentalExchange (ICE) and Liffe to establish clearing houses in Europe as part of a larger investigation into the exchange clearing business in the region.

Euroclear to acquire Nordic Central Securities Depository

/Depositories

Euroclear to acquire Nordic Central Securities Depository

The four Scandinavian banks that own the Nordic Central Securities Depository (NCSD) have signed a preliminary deal to sell their stakes in the business to European depository Euroclear.

Bats chooses Fortis for European clearing

/Depositories

Bats chooses Fortis for European clearing

US ECN operator Bats Trading has recruited Dutch-Belgian banking group Fortis to provide clearing services for its new European trading facility, which is slated for launch in September.

Credit derivatives clearing facility to launch in Q3

/Depositories

Credit derivatives clearing facility to launch in Q3

The Clearing Corporation (CCorp) has inked an agreement with the Depository Trust and Clearing Corporation (DTCC) that will result in the launch of a central clearing facility for over-the-counter (OTC) credit derivatives in the third quarter.

ECB calls on depositories to join securities settlement project

/Depositories

ECB calls on depositories to join securities settlement project

The European Central Bank (ECB) is calling on central securities depositories (CSDs) to sign up to Target2-Securities (TS2), its proposed integrated securities settlement system in the euro zone.

UK competition watchdog mulls clearing probe

/Depositories

UK competition watchdog mulls clearing probe

The UK's Office of Fair Trading (OFT) has called for feedback from "interested parties" on whether it should launch a competition investigation into clearing and settlement in the derivatives market.

ICE secures FSA approval for UK clearing house

/Depositories

ICE secures FSA approval for UK clearing house

US market operator IntercontinentalExchange (ICE) has received regulatory approval to establish its own clearing operation in London.

Smartpool selects EuroCCP and LCH.Clearnet for clearing and settlement

/Depositories

Smartpool selects EuroCCP and LCH.Clearnet for clearing and settlement

EuroCCP and LCH.Clearnet have both been selected to provide clearing and settlement services for SmartPool - the pan-European electronic block trading platform being established by Nyse Euronext in partnership with HSBC and BNP Paribas.

Furse calls for regulators to intervene on vertical silos

/Depositories

Furse calls for regulators to intervene on vertical silos

London Stock Exchange (LSE) chief executive Clara Furse has called on the UK's regulators to act to prevent a "domino effect" of spreading anti-competitive behaviour in the exchange clearing business.

European securities depositories to launch settlement venture

/Depositories

European securities depositories to launch settlement venture

A group of seven European central securities depositories (CSDs) are gearing up to launch a joint venture aimed at cutting settlement costs across the region in accordance with the European Commission's voluntary code of conduct.

FXMarketSpace launches forex settlement service

/Depositories

FXMarketSpace launches forex settlement service

FXMarketSpace, the centrally-cleared foreign exchange marketplace established by Reuters and the Chicago Mercantile Exchange (CME) has launched a settlement service.

Liffe confirms clearing house plan

/Depositories

Liffe confirms clearing house plan

London-based derivatives exchange Liffe has confirmed plans to establish its own clearing house and says it will renegotiate contract terms with its current supplier LCH.Clearnet.

Rainbow in talks with LSE over EDX

/Depositories

Rainbow in talks with LSE over EDX

Rainbow - the European exchange being set up by investment banks - has approached the London Stock Exchange about taking over the bourse's EDX derivatives business and making it the basis of its new trading platform.

Eurex to establish US options trading link

/Depositories

Eurex to establish US options trading link

European derivatives exchange Eurex says it will establish a transatlantic trading and clearing link that will enable its customers to access options products at the New York-based International Securities Exchange (ISE), which it acquired last year.

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