Latest Depositories News: Finextra Research

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

News/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.

17 July 2008

News/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.

15 July 2008

News/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.

15 July 2008

News/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.

07 July 2008

News/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.

01 July 2008

News/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.

01 July 2008

News/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.

12 June 2008

News/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.

02 June 2008

News/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.

02 June 2008

News/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.

29 May 2008

News/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.

23 May 2008

News/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.

14 May 2008

News/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.

13 May 2008

News/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.

06 May 2008

News/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.

17 April 2008

News/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.

01 April 2008

News/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.

31 March 2008