The Management Committee of the European Central Securities Depositories Association (ECSDA) has unanimously appointed Giovanni Sabatini, CEO of Monte Titoli, as its new Chairman. Giovanni Sabatini, formerly Secretary of the Management Committee of the Association, replaces Iain Saville, the outgoing
Platinum Equity, a buyout firm that specializes in turning around faltering high tech companies, has said it plans to make an offer for Global Crossing. The telecommunications company, which filed for Chapter 11 protection from its creditors on January 28,
Banca d'Italia, in accordance with Consob, yesterday approved the operational rules of Express II, the new platform that will replace the present Liquidazione dei Titoli (managed by Banca d'Italia). Express II, developed in agreement with industry associations, intermediaries and markets,
Deutsche Brse submitted to the shareholders of Cedel International the offer for the acquisition of Cedel and its 50 percent ownership in Clearstream International. Deutsche Brse offers Cedel shareholders 1.74 billion euro in cash with an alternative to receive shares
Gores Technology Group, a Los Angeles investment firm run by Alec Gores that specializes in buying distressed technology companies, is preparing a bid for Global Crossing, according to report in the Los Angeles Times yesterday. The offer would be the
Northwest Mutual Funds Eyes Merger Northwest Mutual Funds wants to merge the Northwest Specialty Resource Fund into Northwest Specialty Equity Fund, pending unitholder and regulatory approval.3 Plansponsor.comAFBA 5Star Funds Increases its Family AFBA 5Star Funds has recently added the AFBA
The Slovakian regulator, the Office for the Financial Markets, has announced plans to bolster the confidence of local investors by introducing an Investors' Guarantee Fund from June this year. Licensed brokers will contribute to the fund, from which investors will
Clearstream Banking and Schroder Investment Management today announced that they are now communicating using ISO 15022 messages through Vestima, the innovative STP solution for Investment fund processing. Schroder Investment Management will access Vestima via the SWIFT network, using the new
The Japan Securities Dealers Association (JSDA) the Osaka Securities Exchange (OSE) and Nasdaq Stock Market Inc. (NASDAQ) is reported to be in talks aimed at merging the JASDAQ OTC market and with the Nasdaq Japan market at the OSE. The
In a move aimed at improving securities trading between Israel and the United States, the Tel Aviv Stock Exchange (TASE) Clearing House has opened an electronic link with The Depository Trust Company (DTC) that will simplify cross border settlement for