Statement On JPMorgan's Choice of Euroclear as its ICSD

Tom Swayne has issued his resignation from the Clearstream Board of Directors in light of the decision of Clearstream to enter into exclusive negotiation with Deutsche Brse AG. JPMorgan Chase supports a "horizontal" solution to the clearance and settlement infrastructure

JP Morgan Chase To Shift Billions of Euros To Rival Euroclear

JP Morgan Chase will shift billions of euros in business to rivalinternational depository Euroclear, according to Securities Industry News which also reports that Tom Swayne, head of JP Morgan Chase's GlobalInvestment Services unit, has resigned from Clearstream's board.

Eurex Exchange Council Elects Fischer as Chairman

Constitutive Meeting of the Exchange Council of Eurex Deutschland Frankfurt, Germany January 10, 2002 Eurex, the international derivatives exchange, announced that the newly elected Exchange Council of Eurex Deutschland met for the first time. The Council members elected Leonhard Fischer,

CREST Settlement Volumes Soar In 2001

CREST announced that it settled 73.4 million transactions in 2001, a rise of 26% on volumes in 2000, Turnover increased by 29% to 63.2 trillion. CREST also settled a record daily volume of over 480,000 transactions during the year. Membership

Clearing Corp. Shareholders Approve Consolidation Plan

The shareholders of Government Securities Clearing Corporation (GSCC), MBS Clearing Corporation (MBSCC) and the Emerging Markets Clearing Corporation (EMCC) have approved a plan for the three organizations to become subsidiaries of The Depository Trust & Clearing Corporation (DTCC). The integration,

State Street Acquires Interest in ByAllAccounts

State Street has acquired a minority interest in ByAllAccounts Inc., an account aggregation service company based in Woburn, Massachusetts. State Street will also begin using ByAllAccounts' WebPortfolio aggregation service, which collects customer data from various financial firms and consolidates the

JP Morgan Boosts Corporate Trust With SST Acquisition

J.P. Morgan Chase & Co. and Systems & Services Technologies, Inc. (SST) announced that the parties have signed a definitive agreement under which JPMorgan will acquire SST, a wholly owned subsidiary of III Associates. A leading third party servicer, SST

David Bilbe Joins BBH

David Bilbe, the SVP who is the public face of institutional custody sales at State Stteet Bank & Trust Company in London, is joining Brown Brothers Harriman as Managing Director of Investor Services. Unlike State Street, BBH is not seeking

New Clearing System In Prospect for Finland

Finnish custodians wrestling with client service complaints have long had to struggle with one of the least developed market infrastructures in Europe. So they are among supporters of the plan by the Helsinki Stock Exchange (HEX) to develop a new

India Moves to T+3 Settlement

Continuing to reform India's securities processing infrastructure, the country's regulator, the Securities and Exchange Board of India (Sebi), has slated April 1 to shorten the settlement cycle from five days to three days. The decision came in a brief statement