Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

SIX Securities Services chooses Swift for T2S connectivity

SIX Securities Services, the CSD group for Switzerland, has signed up to Swift's Value Added Network (VAN) to connect to Target2Securities.

16 September 2013

News/Depositories

LSE wins tech deal with Argentinian CSD

The London Stock Exchange will provide technology and business development help to Argentinian CSD Caja de Valores (CVSA) under a deal designed to boost the South American country's capital markets.

31 July 2013

News/Depositories

Euroclear CSDs to move to T+2 in 2014

Euroclear central securities depositories in Belgium, France and the Netherlands are to move to a T+2 settlement timeframe in October 2014, earlier than anticipated.

24 July 2013

News/Depositories

London Stock Exchange to open central securities depository

The London Stock Exchange is to open a central securities depository (CSD) in Luxembourg to provide a full range of custody and settlement services across the eurozone.

16 July 2013

News/Depositories

SIA and Colt score Target2 and T2S network contract

Telecoms firm Colt and payment processor SIA have won a deal to build the network infrastructure connecting the German, Italian, French and Spanish central banks for Target2 and Target2-Securities (T2S).

05 July 2013

News/Depositories

Markit acquires DTCC corporate actions validation service

Financial data outfit Markit has acquired the assets of Global Corporate Actions Validation Service from the Depository Trust & Clearing Corporation (DTCC). Financial terms of the deal were not disclosed.

17 June 2013

News/Depositories

LCH.Clearnet hit by major New Year's Eve IT failure

LCH.Clearnet suffered a serious IT failure on 31 December, affecting payment processing and hindering the clearing house's contingency plans, according to the Bank of England.

26 March 2013

News/Depositories

EMCF and EuroCCP agree merger

Pan-European cash equities clearing houses EuroCCP and the European Mulitlateral Clearing Facility (EMCF) have agreed to merge their operations.

14 March 2013

News/Depositories

Back office costs for T2S to run as high as EUR27 million

European banks and broker-dealers are lagging in their understanding of the impact of the European Central Bank's plans for harmonising settlement under the Target2Securities platform, with migration costs for back offices estimated at anywhere between seven million euros and EUR27 million.

06 March 2013

News/Depositories

ASX to retain clearing monopoly

The Australian Securities Exchange has won government approval to maintain its monopoly on the clearing and settlement of cash equity trades, dashing the ambitions of LCH.Clearnet to invade the territory.

11 February 2013

News/Depositories

Euroclear Nederland consigns paper certificates to history

Euroclear Nederland has called time on a 400-year tradition of paper securities certificates as it closes its vaults in Amsterdam and moves all share ownership documentation to an electronic register.

17 January 2013

News/Depositories

Liquidity Alliance formed to tackle global collateral crunch

A group of five central securities depositories (CSDs) from around the world have formed a liquidity alliance designed to help solve the global collateral shortage prompted by the 2007 financial crisis and subsequent regulatory changes.

16 January 2013

News/Depositories

Clearstream to pass on EUR30 million T2S development costs to customers

European depository Clearstream plans to pass on to its customers an estimated EUR30 million in development costs for migrating to the European Central bank's Target2-Securities (T2S) system.

20 December 2012

News/Depositories

ECB extends T2S deadline; weak trading hits volume and pricing assumptions

The European Central Bank may be forced into a rethink of the charging structure for the Target2Securities settlement platform as weak trading in Eurozone markets hits previously optimistic volume assumptions.

04 December 2012

News/Depositories

DTCC starts sorting though Sandy-flooded securities vault

The Depository Trust and Clearing Corporation has begun sifting through the soggy remains of approximately 1.3 million physical securities certificates stored in an underground vault in lower Manhattan which was overwhelmed by a tidal surge during superstorm Sandy.

15 November 2012

News/Depositories

Half of market participants not preparing for T+2 - Omgeo

Market participants are not prepared for shorter settlement cycles, despite being strongly in favour of a move to T+2, according to a study from Omgeo.

31 October 2012

News/Depositories

Swift wins T2S connectivity deal with CSD consortium

Link Up Markets, a consortium of 11 European central securities depositories (CSDs), has selected financial messaging network Swift to provide connectivity to Target2-Securities, the new pan-European settlement infrastucture under construction by the European Central Bank.

24 October 2012

News/Depositories

Finance firms exiting businesses over capital requirements - survey

A quarter of financial institutions around the world are exiting businesses because of the impact of increased capital requirements, according to a survey by the Professional Risk Managers' International Association (Prmia).

09 October 2012

News/Depositories

Shortening US trade settlement cycle a big money saver - BCG

Shortening the time period between trade execution and settling payment for US cash securities transactions could reduce the industry's costs and risk exposure by several hundred million dollars a year, according to a report from the Boston Consulting Group (BCG).

05 October 2012

News/Depositories

LCH.Clearnet acquires sole ownership of International Derivatives Clearing Group

LCH.Clearnet has reinforced its commitment to the US marketplace by acquiring sole ownership of International Derivatives Clearing Group (IDCG) from Nasdaq OMX and other minority investors.

15 August 2012