Market Infrastructure

Sabatini Replaces Saville as ECSDA Chairman

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 Joins Bidding for Global Crossing

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,

Monte Titoli RTGS/DvP Platform Progresses

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 Börse Submits Offer To Cedel Shareholders

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

Vultures Circling Global Crossing

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

Stanley Young Quits Accenture for CapCo

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

Slovaks Introduce an Investors' Guarantee Fund

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

Schroder Moves to ISO 15022 on Clearstream’s Vestima

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

JASDAQ and NASDAQ Japan to Merge

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