Custody

More Bumph From the DTCC

The Depository Trust & Clearing Corporation (DTCC) White Paper production machine has spun again, and spat out another document. This one contains a masterplan to reinvent settlement everywhere and shift the world on to the virtuous path of global STP.

JP Morgan Chase Plunges into Loss in Fourth Quarter

J.P. Morgan Chase & Co. announced fourth quarter 2001 operating earnings per share of $0.12, compared with $0.37 in the fourth quarter of 2000. Operating income was $247 million in the fourth quarter, compared with $763 million one year ago.

State Street Announces Continuous Double-Digit Growth

State Street Corporation announced fourth quarter earnings per share of $0.52, up 16% from $0.45 per share in the fourth quarter of 2000. Total revenue on a taxable equivalent basis was $1.0 billion in the quarter, up $115 million, or

Shares of Northern Trust Drop In Aftermath of Enron Fall

Shares of Northern Trust dropped more than 4% yesterday, after the Chicago based firm noted an 18% drop in quarterly profits following a $45 million provision for credit losses largely related to loans to failed energy trader Enron.

Natexis Banques Populaires Appoints HSBC GIS

Global Investor Services (GIS), the custody division of HSBC, has been appointed UK sub custodian for approximately Euro 1.5 billion of its assets by Natexis Banques Populaires. The appointment follows a comprehensive review of the UK sub custodian market by

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,

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