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December
Six Securities Services aims to move back into the derivatives market and sees a future in centrally-cleared securities lending and borrowing. Stephanie Baxter reports
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Polish and Russian CSDs close to building operational link in 2013, says CEO of Polish national depository KDPW, Iwona Sroka
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Polish central securities depository KDPW_CCP starts clearing OTC derivatives today
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Future T2S users could face higher settlement fees due to dwindling trading volumes, says Stephanie Baxter
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LGIM has cleared interest rate swaps for its LDI funds range ahead of regulatory deadline
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Clearstream has boosted assets held in custody by 3% in November 2012 year-on-year
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Derek Perry leaves RBS after seven years
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Euroclear will provide tri-party collateral management services to the European clearinghouse
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BNP Paribas launches post-trade service for LSE-SGX deals
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November
Euroclear will launch its collateral service by June 2013
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A white paper from the Collateral Initiatives Coordination Forum says collateral does not move efficiently across borders
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Poland’s national depository for securities (KDPW) has launched a free of charge trade repository for derivatives
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October
JPMorgan starts up direct custody and clearing solution in Hong Kong and appoints Michael Drumgoole as Asia Pacific head of the business
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HSBC Securities Service adds two to broker-dealer outsourcing team
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Participants at Global Investor/ISF’s OTC derivatives roundtable in London discussed regulatory changes, legal progress, challenges around collateral management and the prospect of electronic execution
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The Japanese clearing house is the first Asian clearer to accept these yen-denominated OTC derivatives
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LCH.Clearnet is first to market with an OTC clearing certification programme for consultancy firms
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September
EBS and Thomson Reuters will use Traiana Harmony to carry out over-the counter (OTC) services for client clearing firms and central counterparties (CCPs)
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Anna Reitman examines trends in the OTC derivatives market
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CME has approved Newedge as a clearing member
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The clearing house boosted its securities lending transactions by 50% in comparison to 2011
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August
CCPs have not gained traction in securities lending because they are too expensive, speakers concluded at the Global Investor/ISF German Securities Finance Summit
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The European CCP has followed the lead of other CCPs in extending its collateral eligibility range
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Participants at Global Investor/ISF’s Asia clearing & settlement roundtable discuss the central clearing of OTC derivatives, the Asian Bond Market Initiative, ASEAN Trading Link platform and the development of a regional bond market
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CSDs, CCPs, the impact of low interest rates and the sovereign debt crisis are among the topics discussed at Global Investor/ISF's European clearing and
settlement roundtable
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July
Singapore Exchange asks industry to comment on proposed introduction of margining for central clearing of securities
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James Tomkinson has joined Rule Financial
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June
Wim Den Hartog will join IMC as co-head of its Chicago office
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Omgeo sees more demand for automated collateral management solutions
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Euroclear’s CSDs in Belgium, France, and the Netherlands will sign up to Target2-Securities
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May
MSCI’s Christopher Finger says there needs to more awareness of how a CCP’s risk model determines how much margin is required when clearing OTC derivatives
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Following the launch LCH.Clearnet will be working with an additional 10 international institutions
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Canadian law currently makes the use of cash collateral in derivatives, repo and securities lending difficult but reform looks set to occur
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Tool provides brokers and advisors with greater transparency, reduced risk and lower operating costs
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Critics of collateral transformations are talking rubbish, says Roy Zimmerhansl, principal consultant of Zimmerhansl Consulting Services
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BNY Mellon has enhanced its collateral management platform with an electronic margin call service
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Client clearing on LCH.Clearnet's SwapClear increases by 175% in 2012 [free content]
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An expert panel discuss managing enterprise-wide risk, regulatory change, central counterparties, collateral optimisation and providing transparency
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April
Market infrastructure in Asia is developing quickly to support burgeoning financial markets, but a uniform system across the region is still a long way off, Blake Evans-Pritchard reports
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LCH.Clearnet Group has signed a non-binding agreement with International Derivatives Clearing Group
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The ECB’s pan-European settlement project gets a major wave of support
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Pirum Systems will provide access to Eurex Clearing’s upcoming CCP service for securities lending
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The SEC charges an online brokerage and clearing agency and five individuals for abusive naked short selling
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CCPs and other clearing and settlement systems face new international principles
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Approximately $260bn of Ginnie Mae mortgage-backed securities will be eligible to be pledged as initial margin
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The platform allows institutions to manage derivatives valuation from file upload to valuation retrieval
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The decision comes as demand for non-traditional collateral grows at clearinghouses in the wake of regulatory reforms
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The transition of OTC derivatives to CCPs will hugely increase the demand for high quality collateral but the buy-side remains unprepared. Stephanie Baxter considers the consequences of failing to act
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The legal segregation of collateral in a CCP model under Dodd-Frank seems like a win-win, until you delve deeper. Annabelle Palmer reports
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The OCC's stock loan programme increased in March while general activity fell
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With central clearing mooted as the future of securities lending globally all eyes are on Brazil, one of the only markets where a successful CCP is already in place. Annabelle Palmer reports
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March
Settlement, custody and related services will be provided for stock exchange and OTC equity trades, government and corporate bond transactions
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HSBC Securities Services has expanded its sub-custody and clearing network
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The Depository Trust & Clearing Corporation has endorsed The Swap Data Information Sharing Act, which removes Dodd Frank's indemnification and plenary access provisions for derivatives
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The new service, ForexClear, provides clearing for FX Non Deliverable Forwards
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Eurex Clearing will soon launch its CCP service for
European securities lending, but could industry apathy
about the need to establish the model see it face the same fate as SecFinex? Stephanie Baxter enquires
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Newedge will offer CCP clearing services for Interest Rate Swaps at CME Cleared IRS and LCH SwapClear
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The new service enables Canadian market participants to meet demands for collateral in a cost effective and operationally efficient way
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Nordic custodians are being driven by preparations for the ECB's Target2-Securities settlement platform and the anticipated arrival of international banks. Stephanie Baxter reports
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Total spending by sell-side banks with OTC strategies has been around $10 to $50m annually since 2010, according to Rule Financial
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A new report by the Bank for International Settlements has calculated how much collateral dealers will have to put up for centrally cleared OTC derivatives
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The European Commission wants to increase the safety and efficiency of CSDs
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February
BNP Paribas becomes the first global custodian to support foreign investments in Mongolia through a mandate with China's Harvest Global Investments
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State Street membership brings SwapClear's total clearing membership to 61
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Societe Generale Securities Services (SGSS) in Italy has won a mandate with a wealth management firm
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January
The European ETF market is suffering from settlement and cross border issues, according to State Street’s Rob Rushe
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HSBC Securities Services says Japanese and cross-border broker dealers are looking for greater operational and cost efficiency
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Former SecFinex director Jonathan Lombardo talks to Global Investor/ISF about his new role at Pirum Systems and why the securities lending industry needs to push forward with CCPs
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Despite a December decline, OCC’s annual securities lending activity was up on 2010
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The National Settlement Depository has concluded its first ‘settlement repo’ transaction as a securities lending agent
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Nasdaq OMX Baltic aims to provide a one-stop-shop for trading and settlement in the region