Hardcastle Trading, a remote member at Stockholm Stock Exchange, will change clearing identity in the Swedish market. The new clearing identity, HAC, will be in use in VPC from settlement date 1 December 2006, with SEB as account operator through a tri-party arrangement between SEB, Goldman Sachs and Hardcastle Trading.
The identity at the Stockholm Stock Exchange will remain HCT while the last settlement date for the current clearing identity, HCT, will be 30 November 2006. The new clearing identity, HAC, will be recognised with BIC HDCTCHZ1 from settlement date 1 December 2006.
“Tri-party Remote membership Services is a growing area of interest in all 7 Nordic/Baltic markets,” says a spokesperson for SEB. “Already being the leading Remote Membership Service Provider in the Nordics by settling 39 percent of all Remote Membership transactions that are conducted in the 4 countries, SEB launched it’s Nordic/Baltic Triparty membership service during second quarter 2006.”