Network managers advocate dropping of cyber-security questions from sub-custody DDQ
Cyber-security could be one of the sections that will be dropped from an industry-wide questionnaire network managers use when selecting a sub-custodian.
Tag: Sub custody
Citi launches sub-custody and clearing in Norway
Citi already offers direct custody and clearing services in Denmark, Finland and Sweden, with expansion taking its European sub-custody network to 37 markets.
A look back at the biggest moments for Soc Gen’s outgoing securities services leader
Looking at some of the top five achievements for Societe Generale's outgoing head of securities services, Bruno Prigent, during his time at SGSS.
Network managers reducing DDQ questions for sub-custodians
The DDQ was at risk of becoming unstuck as network managers pumped the document with their own proprietary questions.
Sub-custodians face backlash over added DDQ charges
Some sub-custodians have witnessed a dramatic increase in the number of questions being asked in their due diligence questionnaires.
DNB Bank to shut foreign custody business
Increased competition from its Nordic rivals has created a tougher environment for DNB to secure international sub-custody clients in the country.
BNP backs role of sub-custodians
BNP Paribas has stressed the importance of the local expertise that a sub-custodian provides.
Custodians looking at exit strategies
Custodians are reportedly assessing their position in certain markets.
Opinions divided on the future of sub-custodians
With some players consider disintermediating sub-custodians, the industry could be in jeopardy, according to NeMa panelists.
Contingency networks needed to guard against sub-custody default
Global Custodians may need to maintain contingency to deal with risks of default, NeMa conference hears.