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

LCH.Clearnet eyes forex markets

Anglo French group LCH.Clearnet is looking into ways of providing clearing services for the lucrative foreign exchange markets, according to a Financial Times report.

16 October 2008

News/Depositories

Nasdaq OMX buys stake in EMCF

Transatlantic exchange Nasdaq OMX is acquiring a 22% equity stake in European Multilateral Clearing Facility (EMCF), the Fortis Bank subsidiary that was taken over by the Dutch government.

16 October 2008

News/Depositories

Nasdaq clearing service to compete with DTCC

Market operator Nasdaq OMX is gearing up to launch a clearing and settlement system for US cash equities that will compete directly with industry-owned Depository Trust and Clearing Corporation (DTCC).

14 October 2008

News/Depositories

Eurex outlines CDS clearing proposal

Derivatives exchange Eurex has unveiled its proposal for establishing a central clearing system for the over-the-counter (OTC) credit markets which it says has "received support from European authorities".

13 October 2008

News/Depositories

Nyse Euronext MTF to offer competitive clearing

Transatlantic exchange Nyse Euronext has selected EuroCCP to provide clearing and settlement services for its new European multilateral trading facility (MTF) when it launches in November, but it will open up the platform to competing clearing houses next year.

08 October 2008

News/Depositories

CME and Citadel invite industry to take stakes in CDS counterparty JV

The Chicago Mercantile Exchange is teaming up with Citadel to launch a credit default swaps trading platform and central counterparty facility. News of the move comes as the Federal Reserve meets with industry leaders to push for new risk mitigation techniques in the over-the-counter markets.

07 October 2008

News/Depositories

Fortis' clearing subsidiary EMCF passes into state control

Ownership of EMCF, the Fortis Bank subsidiary that provides clearing services to Instinet Chi-X and Nasdaq OMX, has been passed to the Dutch government as part of a EUR16.8 billion rescue package.

06 October 2008

News/Depositories

EuroCCP moves to take advantage of Fortis woes; offers clearing for MTFs

European Central Counterparty Limited (EuroCCP), the European subsidiary of The Depository Trust & Clearing Corporation (DTCC) says it is ready to step into the breach and provide clearing services for European MTFs such as Chi-X, Nasdaq OMX, Bats and other new execution venues served by troubled Belgian bank Fortis.

29 September 2008

News/Depositories

Euroclear signs for BT managed security services

European depository Euroclear has signed a three year deal with UK telco BT for the provision of security monitoring and management services.

29 September 2008

News/Depositories

LCH.Clearnet turns to Tata for derivatives clearing platform; unwinds Lehman positions

The largest clearing house in Europe, LCH.Clearnet, has selected Tata Consultancy Services (TCS) Financial Solutions Bancs product as the underlying system for its multi-asset derivatives clearing platform.

18 September 2008

News/Depositories

Polish Central Securities Depository signs for Microsoft BizTalk Server

The Polish National Depository for Securities (KDPW) is implementing Microsoft's BizTalk Server for Swift as its enterprise financial messaging platform and will use the technology for the transport, management and exchange of Swift transactions.

17 September 2008

News/Depositories

European clearing code failing to deliver

More than 80 formal applications have been made by clearing and settlement houses for interoperability and mutual access in accordance with the European Commission's voluntary code of conduct, but none has gone live.

12 September 2008

News/Depositories

CME set to dump FXMarketSpace - report

CME Group is planning to withdraw from FXMarketSpace, the centrally-cleared foreign exchange marketplace it established with Thomson Reuters, according to a press report.

12 September 2008

News/Depositories

Eurofi calls for stricter enforcement of post-trade rationalisation programmes

European think tank Eurofi has called on the European Commission to institute tougher enforcement of settlement harmonisation and consolidation programmes aimed at cutting costs of cross-border post-trade services across the EU.

11 September 2008

News/Depositories

Nasdaq OMX bags derivatives contracts in South Africa and Columbia

Nasdaq OMX is celebrating two significant contracts in the international derivatives markets, specifying the provision of a Central Clearing Counterparty in South Africa, and a trading engine for a new exchange in Columbia.

04 September 2008

News/Depositories

New post-trade rules proposed to remove barriers to cross-border trading

An advisory group has put forward recommendations for breaking down legal barriers to the cross-border holding and settlement of securities in the European Union, including proposals to enable issuers to choose which central securities depository they want to use.

22 August 2008

News/Depositories

EuroCCP and Turquoise gear up for Friday launch

European Central Counterparty Limited (EuroCCP) - the pan-European arm of US depository DTCC - is expected to launch on Friday with 15 firms having gained approval as clearing participants, including the nine founding members of Turquoise and six other firms.

13 August 2008

News/Depositories

Turquoise hit by clearing issue in Italy - report

Bank-backed pan-European platform Turquoise will not offer trading in Italian equities when it launches because Italian central securities depository Monte Titoli will not cooperate with its own clearing and settlement provider, EuroCCP.

29 July 2008

News/Depositories

Eurex ventures into OTC derivatives clearing

Swiss German derivatives exchange Eurex is in talks with infrastructure providers about introducing a clearing platform for the over-the-counter (OTC) credit markets.

23 July 2008

News/Depositories

BNP Paribas launches hybrid clearing service

French banking group BNP Paribas has launched a 'hybrid' securities clearing service as it looks to cash in on the proliferation of new equities trading platforms for investment and fund managers launched in the wake of MiFID.

22 July 2008