Financial Services Research

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19th May 2012

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SIX Securities Services signs a Memorandum of Understanding with Turkey’s post-trade infrastructure – Takasbank and MKK

In a landmark agreement, Switzerland’s post-trade services provider, SIX Securities Services signed a Memorandum of Understanding (MoU) with both Takasbank and MKK to provide international clearing,... Read more..

Deutsche Bank Appoints Andrew Rand as Regional Head of Direct Securities Services in EMEA

Deutsche Bank has announced the appointment of Andrew Rand as Regional Head of Direct Securities Services (DSS) in EMEA within the Trust & Securities Services group of its Global Transaction Banking... Read more..

KSD (the Republic of Korea) and NSD (Russia) sign Memorandum of Understanding on information sharing and cooperation

Korea Securities Depository (KSD) and National Settlement Depository (NSD) signed a Memorandum of Understanding (MOU) on May 2, 2012. KSD and NSD will establish, under the terms of the MOU, a basis of... Read more..

DTCC begins user testing on foreign exchange repository

The Depository Trust & Clearing Corporation (DTCC) began user testing of its new Global Trade Repository service for Foreign Exchange on May 1 and is planning full production by the fourth quarter,... Read more..

ISDA elects 13 board members

The International Swaps and Derivatives Association (ISDA) has announced the election of 13 directors at its 27th Annual General Meeting in Chicago.

Three new directors were elected.... Read more..

Clearstream to join TARGET2-Securities

* German CSD to sign T2S Framework Agreement on 30 April 2012
* Clearstream well positioned to become a single entry point to T2S on a pan-European scale Clearstream has announced that the central... Read more..

TriOptima introduces its new triBalance service for reducing systemic risk by rebalancing counterparty credit exposure for cleared and uncleared OTC derivatives

TriOptima announced that it has developed and tested triBalance, an important new post trade service that mitigates risk concentration which emerges because credit exposure of cleared trades can no longer... Read more..

DTCC Board of Directors elects Michael C. Bodson President and CEO

The Depository Trust & Clearing Corporation (DTCC) has announced that its Board of Directors has elected Michael C. Bodson, currently Chief Operating Officer, as President and Chief Executive Officer... Read more..

Eurex Clearing partners with Pirum for its upcoming CCP service for securities lending market

Eurex Clearing and Pirum Systems announced today that they have entered into a Connectivity Agreement to facilitate access to Eurex Clearing’s upcoming CCP service for securities lending. Pirum Systems... Read more..

Traiana announces certification with ICE for OTC FX clearing

Traiana, a leading provider of post-trade solutions, announced today that it is certified to provide real-time connectivity to IntercontinentalExchange (NYSE: ICE), a leading operator of global over-the-counter... Read more..

Euroclear Bank efficiently swaps 30% of foreigner-held Greek debt

Euroclear Bank has processed instructions equivalent to more than EUR 41 billion, nearly a third of the total outstanding nominal value of Greek debt held outside Greece that was impacted by the bailout... Read more..

IntercontinentalExchange introduces enhanced execution and order management tools

IntercontinentalExchange has announced the successful release of WebICE version 12.600 as well as other ICE platform improvements, including additional support for customized trading strategies. "The... Read more..

Mandate Wins

Morneau Shepell selects CIBC Mellon to provide asset servicing for Nortel Networks pension plan

CIBC Mellon has been selected to provide asset servicing solutions for the Nortel Networks Canadian defined benefit pension plans. CIBC Mellon will deliver custody services, securities lending, pension... Read more..

VP LUX launches a breakthrough fund settlement service

Saxo Bank A/S and BNY Mellon select VP LUX, a new fund settlement service for the Danish market. VP’s innovative approach to fund issuance will lower risk and cost for funds and investors. Saxo Bank... Read more..

SEB appoints KNEIP for the roll out of their KIIDs

KNEIP has announced it has completed the production and dissemination of the Key Investor Information Documents (KIIDs) as well as the regulatory filing for Skandinaviska Enskilda Banken AB Publ (“SEB”).... Read more..

Societe Generale securities services in Italy mandated by BSI Wealth & Family SIM S.p.A.

Societe Generale Securities Services in Italy (SGSS S.p.A.) has been appointed by BSI Wealth & Family SIM S.p.A. (BSI SIM) to provide personalised custody and settlement services. SGSS was retained... Read more..

Northern Trust to provide fund administration services to LGIM Commodity Composite Source ETF

Northern Trust has announced that it has been selected to provide exchange traded fund (ETF) administration services to the LGIM Commodity Composite Source ETF, launched earlier this month by leading ETF... Read more..

SGSS Russia (Rosbank) appointed by Fleming Family & Partners Asset Management to provide custody and fund services

Societe Generale Securities Services Russia (ROSBANK) has been appointed by Fleming Family & Partners Asset Management to act as Custodian (Depositary) and Investment Funds Trustee (Specialized Depositary). SGSS... Read more..

BNY Mellon to provide mutual fund services to Touchstone Investments

Mandate includes fund accounting and administration, transfer agency and blue sky services BNY Mellon Asset Servicing has been selected by Touchstone Investments to provide mutual fund accounting and... Read more..

BNY Mellon awarded global custody mandate for Fortune SG Fund Management Co. Ltd’s latest QDII Fund

BNY Mellon has been selected by China Construction Bank (“CCB”) as the global custodian for a new qualified domestic institutional investor (“QDII”) fund in China launched by Fortune SG Fund Management... Read more..

Gulf Capital awards private equity fund administration contract to J.P. Morgan

J.P. Morgan’s Worldwide Securities Services has to announced that it has been appointed by Gulf Capital Equity Fund Associates to provide private equity fund administration services to the GC Equity... Read more..

Societe Generale Securities Services mandated by Banco Cooperativo in Spain

Societe Generale Securities Services (SGSS) has been mandated by Banco Cooperativo to provide independent valuation services for their structured products. SGSS was retained by Banco Cooperativo for its... Read more..

Watching the Offshore RMB Universe Extend: Evaluating the Pace of China's Financial Sector Reforms

China's political leadership is talking seriously about reform of the Chinese financial system and reinforcing links with international markets. Steps to promote use of the RMB as a trade invoicing and settlement currency have been gathering momentum. But capital account liberalisation will remain a cautious and gradual process. Bob Currie reports. Read article here

Monitoring Innovation in Hedge Fund Services: supporting the changing needs of fund managers and asset owners

As the hedge fund services market evolves, it is important that fund administrators are able to support all asset classes effectively, whether a fund trades in listed equities, more complex bank debt strategies, or exotic FX options and bespoke OTC instruments. Managers are seeking the expertise of administrators to provide support as assets and strategies grow more complex. Bob Currie reports. Read article here

Pension funds and the euro crisis

Just over five years ago, the first tranches of subprime debt were significantly marked down by the markets; this was the initial pin-prick in an overinflated balloon that led inexorably to the market shocks we have seen since. Matthew Craig reports. Read article here

Solvency II: Implications for Europe’s Insurance Industry

Solvency II is the catalyst for the biggest shake-up of Europe’s insurance and re-insurance industry in recent history, writes Anita Hawser. Read article here