Tag: securities settlement

The risks involved in securities settlement and custodial services

Court verdict on Wells Fargo’s securities lending programme A federal court jury in Minnesota has rejected an $8.2m claim by Blue Cross Blue Shield of Minnesota and other institutional investors that Wells Fargo & Co misrepresented a securities lending programme as safe.  Under the program, Wells Fargo held its clients’ securities in custodial accounts and […]

Boost to the Triparty Repo Settlement Interoperability

The ICMA European Repo Council has signed a memorandum of understanding with Clearstream, Euroclear and Eurex Clearing, which engages those providers in a joint project focusing on increasing the efficiency of the repo market. Through this agreement Eurex Clearing will be able to extend the connected settlement locations for its secured market pooling with Clearstream to […]

13 Banks Accused of Blocking CDS Market

Barclays, RBS, Deutsche Bank, Citigroup, UBS and JP Morgan are amongst 13 banks accused by EU Commission of blocking the access for exchanges to the CDS market on fears that this would reduce their profits. Deutsche Börse and Chicago Mercantile Exchange were refused licences between 2006-2009 by ISDA and Markit, which are controlled by banks, to […]

EU policy makers are closer to agree on securities settlement rules

European policy makers are increasingly confident that regulations for Europe’s €800tn securities settlement market will be finalised and passed into law by the end of the year. The new rules governing region’s central securities depositories aim at creating better competition between national entities and cut cross-border settlement costs. The ECB is planning to make operational the Target2Securities (T2S), […]

The key steps in clearing and settlement of the securities trade

By Stanley Epstein We have all been concerned these past few years about the ongoing financial crisis which erupted so suddenly and devastatingly in the middle of 2008. Much concern has been expressed regarding maintaining financial stability. One of the many ways of doing this is by strengthening the financial infrastructure, both at a domestic […]