LSE’s globeSettle remains a project without a launch date

The globeSettle CSD received backing from the Luxembourg central bank in 2015.
By Paul Walsh
The London Stock Exchange Group’s (LSEG) central securities depositary is still without a launch date despite being granted the necessary regulatory approvals.

The LSE first confirmed plans to introduce globeSettle – a Luxembourg based CSD – in July 2013.

In January 2015 it received clearance from the central bank of Luxembourg to begin operating.

Andrea Tranquillini, general manager, globeSettle, said in January 2015 that the CSD was onboarding JP Morgan along with LCH.Clearnet, CC&G and CME Europe.

In March this year LSEG CEO Xavier Rolet confirmed that the group were looking to implement blockchain technology into globeSettle.

A source from the LSEG confirmed that there remains no further update.