Category: CCP

Shortening the settlement cycle from T+3 to T+2

The majority of European securities markets will shorten their settlement cycles by one day from 6 October, moving from T+3 settlement to T+2. Germany already settles on T+2. In Spain the fixed income market will move on 6 October, but

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JSE first in world to be CPSS-IOSCO compliant

Safcom, the clearing house of Johannesburg Stock Exchange (JSE), is first in world to achieve CPSS-IOSCO compliance. Basel III, the global regulatory standard on banking regulations including capital adequacy, imposes prohibitive capital penalties on banks which deal with clearing houses

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“Access rights” in clearing and settlement – are they worth anything?

There is a high level of interest currently in “access rights” in market infrastructures – that is, the right of of one infrastructure to provide a service to its customers based on the service provided by another infrastructure, for example,

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Are the authorities serious about competition in financial markets?

The news that Deutsche Borse and NYSE Euronext have today notified their proposed merger to the European merger authorities starts a critical decision-making process for financial markets. It comes at a point when the approach to competition seems mixed. On

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NYSE Euronext and LCH.Clearnet: some observations

NYSE Euronext has announced that it intends to spend $60 million to build two new clearing houses, in London and Paris, to be operational by the end of 2012, bringing in-house the clearing of cash and derivative contracts currently undertaken

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