The SEC yesterday approved customer margin rules governing single stock futures clearing the final hurdle to long delayed start of trade in those products according to Dow Jones. The new rules set minimum margin levels at 20% of "current market
Investec Securities and Shore Capital today became the first Retail Service Providers (RSPs) to use the London Stock Exchange's new Gateway trading service to provide quotation and execution services to private client brokers. The Gateway works by linking RSPs and
Getting corporates on to the SWIFT network is one of the trickier tasks facing the Brussels based messaging network, since its bank shareholders find the idea of direct corporate membership of the network anathema. To counter bank fears of disintermediation,
On the 2 July 2002, the Capital Market Supervisory Agency (BAPEPAM) of Indonesia announced the implementation of a T+3 settlement cycle, effective from 9 September 2002. At present, the Jakarta Stock Exchange settles on T +4 . "This announcement is
Borsa Italiana announced today that its offer to Monte Titoli shareholders for the acquisition of the CSD had received acceptances representing 94 per cent of Monte Titoli's capital. This is in addition to Borsa Italiana existing holding of 4.1 per
The London Stock Exchange (LSE) is among the first to capitalise on the decision by CREST to scarp the BT Syntegra SWIFT duopoly on access to its settlement services. Last week the LSE received formal approval to act as a
The merger of Euroclear and CREST appears to be another step towards the ultimate goal of creating a single CSD for Europe. Both Euroclear and CREST successfully service certain segments of the market today and like any merger, the expectation
Congratulations Sir Nigel Wickes. At last someone has had the courage to make the first bold step. If London is to maintain its premier and dominant role in Europe it must bring Europe with it. So much rhetoric has come
The clearing and settlement world used to obsess about T+whatever. Once upon a time it was T+7 or T+5 and I suppose in what one could refer to as a dizzyingly deflationary spiral, nowadays we have T=3, and T+1 remains
As one who has been closely involved with the Crest Euroclear transaction over the last months, I have to admit to disappointment at the views you have expressed. The work of both Euroclear and Crest in finding a new paradigm,