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

Posted in CCP, Clearing & Settlement, CSD Tagged with: , , , , ,

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

Posted in Bourse Consult Case Study, CCP, Clearing & Settlement, Rules & Regulation Tagged with:

“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,

Posted in Capital Markets, CCP, Clearing & Settlement, CSD, Exchanges Tagged with: , ,

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

Posted in CCP, Exchanges Tagged with: , , , , , , , ,

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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