The PwC paper outlines by establishing an ICSD link could result in an increase in GDP of $13.4 billion over 10 years.
The transaction immediately follows the recent regulatory approval for DTCC to expand the DTCC its sponsored service clearing programme.
The expansion will also change how the service is used, with sponsors now able to let their clients trade with counterparties other than themselves.
Eurex now has 28 participants signed up to the repo partnership programme including JP Morgan, Deutsche Bank and Morgan Stanley.
The appointment is the latest in a string of moves for HSBC Securities Services as it increases its focus on the banks and broker-dealer segment.
Citi was the first US bank to offer client swap clearing through Eurex, and eight funds have joined Citi to use the service.
Global Custodian looks at the recent MOUs’ between the UK and EU financial regulators and their implication for securities markets.
BNY Mellon attributed the fall in revenue to “lower client assets and activity and the unfavourable impact of a stronger US dollar.”
Jeffrey Mooney was part of the regulatory team responsible for the US transition to a T+2 settlement cycle in 2017.