Global Crossing, the global telecommunications company to which SWIFT out sourced network services earlier this year, is reported to be in "crisis talks" with its bankers to avert bankruptcy. "Obviously, it is of concern to us," says a SWIFT spokesman,
In an interview with GC.com, Clearnet managing director Victorien Goldscheider has hit back at claims by London Clearing House (LCH) that the choice of Central Counter Party (CCP) provider to Euro MTS is a "no brainer" see News Item below,
In strong opposition to a proposal by the Japanese Ministry of Finance to tax cross border repurchase (repo) transactions, John Vogt, executive vice president of The Bond Market Association, says in a letter to Treasury Secretary Paul O'Neill that the
JP Morgan Investor Services has announced that it has converted several prominent asset managers to the new Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging standards as of November, 2001. This is part of the larger initiative to meet the
Bisys has announced two high profile hires. Simon Shapland joins from ABN Amro Mellon as SVP, Head of Sales Europe and Stewart Copland as VP, Head of Client Relations Europe from Mellon Fund Administration.
Wilco International, a wholly owned subsidiary of ADP Inc announced an alliance with withholding tax software and services specialist GOAL (Global Operations and Administration Ltd). The alliance will extend the range of Wilco's corporate actions solutions by providing access to
EuroMTS is close to choosing between London Clearing House (LCH) and Clearnet as its Central Counter Party (CCP) service provider, and a decision is expected by Christmas. The Italian born fixed income trading platform has learnt the lesson of the
Brown Brothers Harriman (BBH) Foreign Exchange announced that Nick Bennenbroek has been hired as an assistant vice president and is the latest addition to BBH FX's currency research team. This recent expansion effort is the next step in BBH FX's
The president of Nikko Asset Management Co. will step down to take responsibility for a massive pullout by investors from one of the firm's managed funds, the company announced Monday. Investors have withdrawn more than 3.7 trillion yen from a
The Euroclear strategy of establishing direct links with market utilities took another step forward today with the news that investors in Hong Kong will in future be able to hold and settle securities in Euroclear via a real time link