Market Infrastructure

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,

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

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

Eurex Turns Over 44 Million Contracts in December 2001

Eurex, the international derivatives exchange, announced that it closed out the year 2001 with a record volume of more than 674 contracts traded. Eurex topped the previous year's total by 48 percent and further expanded its position as the world's

SWIFT Worried by Travails of Global Crossing

Global Crossing, the global telecommunications company to which SWIFT out sourced network services earlier this year, is reported to be in "crisis talks" with its bankers to avert bankruptcy. "Obviously, it is of concern to us," says a SWIFT spokesman,

Morgan Claims to Have Converted Clients to ISO 15022

JP Morgan Investor Services has announced that it has converted several prominent asset managers to the new Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging standards as of November, 2001. This is part of the larger initiative to meet the

Euro MTS to Choose CCP Provider By Christmas

EuroMTS is close to choosing between London Clearing House (LCH) and Clearnet as its Central Counter Party (CCP) service provider, and a decision is expected by Christmas. The Italian born fixed income trading platform has learnt the lesson of the

Euroclear To Build Link with Hong Kong Debt Depository

The Euroclear strategy of establishing direct links with market utilities took another step forward today with the news that investors in Hong Kong will in future be able to hold and settle securities in Euroclear via a real time link

HKMA to Establish Direct Link with Euroclear

The Hong Kong Monetary Authority (HKMA) and Euroclear announced their agreement to develop a direct link between the HKMA's Central Moneymarkets Unit (CMU) and the Brussels based international central securities depository. This fully automated, real time link will enable investors