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

Regulators fast-track global review of OTC derivatives clearing

Global banking and securities regulators have fast-tracked a review of clearing arrangements for over-the-counter derivatives as part of a far-reaching re-appraisal of existing standards for payments, clearing and settlement systems.

02 February 2010

News/Depositories

LSE retail bond trading platform goes live

The London Stock Exchange's electronic retail bond trading service has gone live, opening up the market to private investors.

01 February 2010

News/Depositories

Deutsche Börse mulling staff cuts, outsourcing - Handelsblatt

Deutsche Börse is to cut up to 10% of its 3,300-strong workforce as it bids to lower costs in the face of strong competition, according to a report in German business daily Handelsblatt.

28 January 2010

News/Depositories

LSE names Kevin Milne director, post-trade services

The London Stock Exchange has named former Xtrakter CEO Kevin Milne as director of its post-trade services division.

18 January 2010

News/Depositories

ECB to set back T2S timetable to beyond 2013

The European Central Bank has been forced to set back the deadline for the introduction of a new pan-European securities settlement system by up to a year as negotiations over pricing and governance drag on, according to a report in the Financial Times.

15 January 2010

News/Depositories

Euroclear names HSBC man Howell CEO

Brussels-based depository Euroclear has appointed HSBC veteran Tim Howell chief executive officer, replacing Pierre Francotte who is quitting after 10 years in the role.

05 January 2010

News/Depositories

Clearstream plans carbon trading settlement service

Deutsche Börse's Clearstream is set to launch a settlement and custody service for carbon trading rights called Global Emissions Market Access (Gema).

17 December 2009

News/Depositories

CME Group launches CDS clearing

CME Group has begun clearing credit default swaps (CDS) as it moves to take advantage of increasing regulatory scrutiny of the market and compete with the rival InterContinentalExchange.

16 December 2009

News/Depositories

Canadian dealers to develop fixed income clearing counterparty

Canadian dealers are to work with the Canadian Derivatives Clearing Corporation (CDCC) to develop a central counterparty (CCP) and netting utility for Canada's fixed income market.

15 December 2009

News/Depositories

US House backs reforms to clearing house ownership rules

US lawmakers have approved a bill that will place a 20% limit on collective bank ownership of derivatives clearing houses, despite fierce opposition from financial industry participants.

11 December 2009

News/Depositories

CME to launch CDS clearing house with support of eight major dealers

After months of wrangling, The Chicago Mercantile Exchange has finally secured agreement with eight leading dealers to participate in its credit default swaps counterparty clearing initiative.

04 December 2009

News/Depositories

Calastone takes on Crest with settlement offering for mutual funds industry

Calastone, a cross-border transaction network for the mutual funds industry, says it has signed up several firms to support a new settlement offering that will compete with Euroclear's UK and Ireland Crest system when it launches early next year.

16 November 2009

News/Depositories

DTCC names Anne Noonan MD and chief systemic risk officer

The Depository Trust & Clearing Corporation (DTCC) has appointed Anne Noonan, a founding member of CLS Bank International, to the new position of managing director and chief systemic risk officer.

09 November 2009

News/Depositories

BME to take on DTCC with trade repository plan

Spanish bourse Bolsas y Mercados Españoles (BME) has announced plans to create a trade repository for over-the-counter (OTC) financial instruments, in a move that will pit the European exchange operator against the US-based Depository Trust and Clearing Corporation (DTCC).

03 November 2009

News/Depositories

Penson buys Broadridge clearing contracts; outsources tech services

Penson Worldwide has entered into a deal to buy the clearing contracts of Broadridge Financial Solutions' Ridge business for up to $70 million and then outsource some technology and processing services to the seller.

03 November 2009

News/Depositories

LCH.Clearnet suspends interoperability work as watchdogs probe risks

LCH.Clearnet has suspended plans to begin offering clearing services across a range of execution venues next week due to regulatory concerns about systemic weaknesses in clearing house interoperability arrangements.

30 October 2009

News/Depositories

LCH.Clearnet shareholders approve buyout

The future of LCH.Clearnet finally appears to be settled after shareholders in the London-based clearing house voted overwhelmingly in favour of a buyout proposal.

15 October 2009

News/Depositories

DTCC to move 1600 staff from Manhattan to Jersey City

The Depository Trust & Clearing Corporation (DTCC) says it will relocate around 1600 employees, including IT staff, from its Manhattan corporate headquarters to Jersey City in 2013.

14 October 2009

News/Depositories

LCH.Clearnet bids to resolve ownership

London clearing house LCH.Clearnet appears to have finally resolved the wrangling over its future ownership after proposing the redemption of over 40% of its shares at a price of EUR10 a piece - an offer accepted by its biggest shareholder, Euroclear Bank.

29 September 2009

News/Depositories

CME and Citadel ditch CDS trading platform plan to focus on clearing

CME Group and Citadel have abandoned plans to launch a credit default swaps (CDS) trading platform and will instead focus on offering clearing services for the $27 trillion market.

21 September 2009