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

Deutsche Börse requests market access under new clearing code

Germany's Deutsche Börse has made formal requests for interoperability and mutual access to exchanges, clearing houses and settlement platforms in five European markets under the new voluntary code of conduct.

21 September 2007

News/Depositories

Eurex Clearing and SIS x-clear agree interoperability pact

European clearing houses Eurex Clearing and SIS x-clear say they are working together to develop and secure full interoperability and mutual access to the virt-x exchange and the Frankfurt Stock Exchange.

19 September 2007

News/Depositories

LCH.Clearnet calls on Germany and Milan to open markets under new clearing code

LCH.Clearnet is to test a new voluntary code for improving transparency in European securities markets by issuing formal requests to both Deutsche Börse and Borsa Italiana for full interoperability with Eurex Clearing and Cassa di Compensazione e Garanzia respectively.

09 August 2007

News/Depositories

Nyse Euronext gets EUR399m from LCH.Clearnet stock sale

Stock exchange operator Nyse Euronext says it will receive EUR399 million from the sale of shares in UK clearing house LCH.Clearnet.

30 July 2007

News/Depositories

ICE to establish London clearing house

US market operator IntercontinentalExchange (ICE) has disclosed plans to terminate its existing clearing agreements with LCH.Clearnet and establish its own clearing operation in London.

25 July 2007

News/Depositories

Deloitte details costs of mutual fund processing failures

The European investment funds industry could cut processing costs by 25% and gain over EUR250 million by streamlining trading, settlement and custody of cross border mutual funds distribution, according to a study conducted by Deloitte and released by securities depository Clearstream.

05 July 2007

News/Depositories

New clearing code to abolish cross-border barriers

The European Commission is ready to endorse a set of industry-agreed guidelines to remove national domestic barriers to share trading platforms and establish interoperability between clearing and settlement organisations in Europe.

04 July 2007

News/Depositories

CSC reports Caceis IT services deal

Computer Sciences Corporation (CSC) has won a seven year contract to provide IT services to Caceis, a European provider of custody, depositary, fund administration and corporate trust services.

12 June 2007

News/Depositories

Court rejects appeal in OMX VAT lawsuit

A court in Helsinki has rejected an appeal made by a group of Finnish banks and brokerage firms relating to a lawsuit filed against OMX over value added tax (VAT) payments charged for clearing services during 1995-2000.

01 June 2007

News/Depositories

Swiss exchange units to merge

Switzerland's three bank-owned exchange businesses - the SWX Swiss Exchange, SIS and Telekurs - have signed a letter of intent to combine their operations into a single streamlined organisation that will provide clients with one-stop securities trading services.

15 May 2007

News/Depositories

DTCC hires Douglas George to take on new risk management role

The Depository Trust & Clearing Corporation (DTCC) has hired industry veteran Douglas George to the new position of managing director and chief risk officer.

27 April 2007

News/Depositories

Project Turquoise banks select EuroCCP for clearing and settlement

The consortium of seven investment banks behind Project Turquoise - the new pan-European equities trading platform that is being established in response to MiFID - has selected DTCC subsidiary EuroCCP to provide clearing and settlement services for the new venture.

18 April 2007

News/Depositories

Computershare pays $270.3m to take over Hong Kong unit

Australian share registry firm Computershare is buying the 30% stake it doesn't already own in it's Hong Kong business from Hong Kong Exchanges and Clearing Limited (HKEx) for $270,320,130.

30 March 2007

News/Depositories

Reuters and CME's FXMarketSpace venture goes live

FXMarketSpace, the centrally-cleared foreign exchange marketplace established by Reuters and the Chicago Mercantile Exchange (CME), is now live and fully operational, with customer numbers "significantly ahead of expectations".

26 March 2007

News/Depositories

Deutsche Börse restructures operations

German exchange Deutsche Börse is restructuring its operations into three distinct business areas - cash market, derivatives and securities settlement and custody - and has appointed management board members to oversee each division.

19 March 2007

News/Depositories

Oslo Børs and Norwegian securities depository VPS agree to merge

Following on-off merger negotiations over the past few years, Oslo Børs and Norwegian depository VPS are finally recommending that their respective businesses be combined.

19 March 2007

News/Depositories

Regulators call for post-trade improvements in OTC markets

The Bank for International Settlements is calling on financial firms to introduce automated systems to cut confirmation backlogs in the over-the-counter derivatives markets.

19 March 2007

News/Depositories

ECB pushes ahead with Target2-Securities

The European Central Bank (ECB) is pushing ahead with the next phase of its controversial project to establish an integrated securities settlement system in the euro zone, despite on-going criticism and scepticism about the scheme from market participants.

08 March 2007

News/Depositories

Banca Akros implements Smartstream's Corona CLS module

SmartStream Technologies has signed Italian investment bank Banca Akros to its Corona CLS software, a reconciliation system for foreign exchange transactions settled in the CLS Bank.

06 March 2007

News/Depositories

Watchdog to probe ECB's plan for pan-European settlement system

The European Central Bank's plans to establish an integrated securities settlement system in the euro zone will be examined by the region's competition watchdog.

01 March 2007