HKEX targets second half of 2028 for Hong Kong T+1 transition
The exchange will overhaul settlement processes and introduce new workflow tools as the market prepares for a shorter settlement cycle in 2028.
News
Citi ‘laser-focused’ on mandates as win rate jumps 40% year-on-year
CEO Jane Fraser describes the firm as ‘the undisputed leader’ within the services space, with a model ‘almost impossible to replicate’.
Senior HSBC digital assets executive to exit role
Executive to leave role after more than two years at HSBC, having previously spent nearly a decade at State Street working across digital asset strategy and product development.
BNY reports 15% rise in securities services revenue in Q3 as AUC/A reaches $63.4trn
Assets under custody and/or administration rise marginally from the second quarter, while revenue growth is supported by higher client activity, new business and market values.
Northern Trust appoints head of strategic clients, private markets for EMEA
Former Fundbank executive returns to Northern Trust after more than 20 years the custodian, where he held senior roles in client coverage and relationship management.
Clearstream appoints new head of digital products and transformation
Executive will take charge of Clearstream Fund Services’ digital strategy, spanning fund distribution, DLT-enabled processing and private markets automation.
FCA warns of intervention as T+1 countdown ticks under a year
The regulator to ask “very difficult questions” of firms lagging in their preparations, as industry figures caution against complacency.
State Street details first wealth services mandate as fee revenue grows 11%
Custodian booked $429 billion in new AUC/A wins during the quarter, with total assets now at $59.2 trillion.
People Moves
Standard Chartered appoints Ying Ying Tan as global head of securities services
Tan will also lead the bank’s digital assets strategy, succeeding Margaret Harwood-Jones, who has become CEO of UK & Europe.
BNY and Citadel Securities complete tokenised Treasury repo transaction
Workflow takes tokenised US Treasuries beyond settlement and into collateral financing, as BNY prepares to extend settlement hours across markets.