In a review letter, the Bank of England’s Prudential Regulation Authority discussed issues related to SIMM calculations and the impact the upcoming regulation will have on hedge funds portfolios.
UK central bank makes recommendations to Euroclear UK and Ireland following CREST outage last year which, it said, ‘caused notable market disruption’.
Euroclear's CREST system has suffered two outages, causing intermittent delays to settlement and impacting the Bank of England's gilt buy-back operation.
The report from the UK central ban found that financial firms are spending upwards of $20 billion a year on post-trade processing systems alone.
The agreement between ESMA and the Bank of England eases concerns of significant disruption to the Irish securities market.