The Financial Supervisory Service (FSS) in Korea has increased the Foreign Ownership Limit (FOL) for broadcasting company stocks from 33% to 49%, following the revision of the Broadcasting Act. It is not clear when the higher limit will become effective.
Andr Roelants the current CEO at Clearstream, is to become the company's Chairman. As chairman, Roelants will focus on client development, strategic marketing, and financial industry relationships and developments. According to patrent company Deutsche Brse, the process to select a
Tiger Consultants, the specialist fund management consultants, have formed a partnership with Yash Technologies, an Illinois based software company with an Indian based subsidiary specilaising in eCommerce, database and networking. The partnership agreement makes Tiger's software services division exclusive agents
NewEuroMTS, the market for euro denominated government securities of the May 2004 European Union (EU) Accession States, today announced that the Republic of Lithuania has become the third issuer to have its bonds included in the market. Republic of Lithuania
JP Morgan Investor Services (JPMIS) has appointed John Galante as Chief Technology Officer. He will be responsible for the strategic and day to day leadership of technology in JP Morgan Investor Services on a worldwide basis. "I am pleased to
SunGard says that ING Group has bought its STeP (Straight Through Enterprise Processing) Platform for reconciliation and exception management, replacing 30 existing systems. The technology is already installed at ING Financial Markets. SunGard recently announced the integration of its intelliMATCH
The parties in the ruling coalition in Japan have approved proposed legislation lifting the ban on banks acting as securities agency brokers, and the dematerialization of stock certificates. This enables the Financial Securities Agency (FSA) to present the bills to
CIBC Mellon says it is cutting Bolivia, Costa Rica, Ecuador, Namibia, Trinidad & Tobago and Tunisia from its global custody network due to inactivity by clients. However, the bank is adding Bulgaria to the network. Bank Austria Creditanstalt will service
SunGard Futures Systems says it is making its Octagon system for exchange traded derivatives and futures trade management, processing and accounting available on an ASP basis. Octagon IT Services will aim to provide a secure outsourcing service for futures commission
Mutual fund outsourcing services provider US Bancorp Fund Services (USBFS) says its call centre has received a five star rating from National Quality Review (NQR) for the 12 month period ending December 2003. The company says USBFS's service performance also