Swiss and Dubai CSDs agree to work towards establishing links
SIX and the Dubai Financial Market sign collaboration agreement with CSD links at its core.
Market Infrastructure
Market Infrastructure
New era for Euroclear as Urbain takes the reins; focus on funds strategy accelerates
The first quarter was defined by milestones for Euroclear in the funds space, while profits continue to rise as a new chief executive takes over.
Editors’ Choice Awards APAC 2024 – Market Infrastructure Project of the Year
With the second annual Leaders in Custody Asia awards fast approaching, Global Custodian takes an in depth look into the nominees for the Market Infrastructure Project of the Year category - featuring HKEX, Clearstream in collaboration with Korea Securities Depository, and Euroclear with Korea CSD.
Euroclear selects Deutsche Bank as cash settlement and FX bank in South Korea
The mandate is to support South Korean government bond activity for Korea treasury bonds and monetary stabilisation bonds.
Mexico approves transition to T+1 settlement cycle
Mexico will transition to T+1 settlement at the end of May 2024, coinciding with the SEC's move to T+1 in the US.
Market Infrastructure
CLS decides not to move FX settlement cut-off for T+1 following evaluation
Members of the multi-currency settlement system claim that development to accommodate a move in the initial pay-in schedule could take “considerable time to implement”, therefore CLS will not shift its cut-off but will analyse T+1 impact in June and September following cycle shortening.
Clearstream connects Slovak central securities depository to its T2S network
Slovak securities are now eligible for settlement in Target 2 Securities (T2S) via Clearstream’s German CSD.
Argentina aligns T+1 switch date with US and Canada
The move will affect normal cash transactions (stocks and bonds) in the market, while T+0 immediate cash operations will continue to be carried out in BYMA without modifications.
Global custodians partake in landmark blockchain pilot demonstrating interoperability
Landmark pilot from Digital Asset’s Canton Network involving BNY Mellon, Northern Trust and State Street along with 42 other organisations across 22 permissioned blockchains has demonstrated interoperability and provided distributed ledger applications for asset tokenisation, repo and securities lending, among other functions.
Qatar’s CSD Edaa says T+2 switch will take place on 25 March
Date had been delayed to provide market participants with more time to update systems and implement new procedures.