Canada affirms aligned switch to T+1 with US
Following some miscommunication around potentially split transition dates, the CCMA confirms to Global Custodian the Canadian market will move to the shortened settlement cycle on the same day as the US.
Market Infrastructure
Swiss central bank accepts digital native bond as repo collateral
Move follows dual listing of City of Lugano bond on SDX and SIX Swiss Exchange.
ASX outlines new roadmap for CHESS replacement as it offers participants almost $50m to support project
Exchange announces ‘significant reset’ to post-trade platform replacement project which takes on learnings from previously experience as it appeals to industry for support.
Settlement cycle reaction: Industry ‘shock’ as SEC opts for ‘ambitious’ T+1 timeline
Industry experts weigh in as US regulators fail to concede to industry demands for at least September 2024 deadline, with T+1 set to go live in the US on 28 May 2024.
Market Infrastructure
SEC gives green light to T+1 implementation in May 2024
Commissioners disagreed on the proposed implementation date, with amendments narrowly passing by three votes to two.
Custody
Global Custodian reveals shortlists for Leaders in Custody awards on 3 May 2023
Annual awards ceremony to be held at The Savoy, London on 3 May, recognising custodians, market infrastructures and technology providers.
Strong Euroclear performance in 2022 topped up by Russia-related income
Excluding the impact of the Russian sanctions, Euroclear’s underlying business still reported a net profit increase of 32% to €603 million.
Infrastructures need to prepare for ‘more frequent and more damaging climate-related events’ says DTCC
New whitepaper highlights the unique nature of FMIs' exposure to climate-related risk and emphasises value of existing regulatory framework.
Clearstream to expand link to Ukrainian capital market in aid of supporting reconstruction
Expanded presence planned to enable cross-border investments and improve liquidity in a bid to support the reconstruction of the country’s infrastructure and economy.
CSDR penalties higher than expected, says Bank of England committee
BoE securities lending committee noted that penalties are “not washing through the system as easily as anticipated”.