Tag: EMCF

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

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

Central counterparties and central banks

Jeremy Grant has raised an interesting point in his Quick View in the FT Trading Room, where he discusses the debate in the US about whether central counterparties (CCPs) should have access to the Federal Reserve’s Discount Window in a crisis.

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

European equity MTFs and their post-trade arrangements

It is not easy to find a single reference source for European equity MTFs and their post-trade services, so we have compiled this table. We have tried to make it comprehensive and accurate (but please inform us of any omissions

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

European post-trade: no clearer

The news that proposals for interoperability between LCH.Clearnet and other European CCPs have been put on hold for up to three months because of regulatory concerns about inter-CCP margin requirements is disappointing for anyone who wants to see more competitive

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