Dubai
14 February 2012
Reporter: Anna Reitman
Securities Lending default image
Standard Chartered picked by Euroclear for AED clearing
Euroclear Bank has selected Standard Chartered to provide cash clearing services in the UAE. Following the appointment, Standard Chartered will be the Arab Emirates Dirham (AED) cash clearing bank for the ICSD.

The service will provide highly competitive clearing deadlines for Euroclear Bank’s clients from more than 90 countries when settling transactions in AED.

Bernard Ferran, head of the Euroclear Bank Representative Office in Dubai, said, “The UAE is a very important GCC market for Euroclear Bank. Our growing presence in the region, as well as the increasing volumes of cross-border fixed-income transactions settling at Euroclear Bank by clients in the GCC, requires efficient Arab Emirates Dirham currency clearing. The appointment of Standard Chartered Bank as our new clearing bank for AED transactions will strengthen our abilities to provide straight-through processing for our clients."

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
MiFID II unbundling compliance will be last-minute scramble for 85 percent
23 June 2017 | London | Reporter: Stephanie Palmer
Asset managers are cutting it fine in compliance with research unbundling rules under MiFID II, with 85 percent saying they expect to be compliant in Q4 2017 or later, ahead of the January 2018 deadline
ICMA: NSFR will make EU repo less attractive
23 June 2017 | London | Reporter: Drew Nicol
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
Caceis welcomes two new clients to TEEPI
23 June 2017 | Luxembourg | Reporter: Stephanie Palmer
Swiss Life Global Solutions, a Luxembourg-based insurance and wealth management provider, and European asset manager Amundi have joined the Caceis Tailored Electronic Exchange Platform for Investors
ECB to launch new faster payments system
22 June 2017 | Frankfurt | Reporter: Stephanie Palmer
The European Central Bank (ECB) is expanding its TARGET 2 instant payments system to facilitate retail payments throughout Europe
Clients demand innovation in custody
22 June 2017 | New York | Reporter: Stephanie Palmer
Custodians must embrace new technologies if they’re to survive in the digital age, according to a survey of sell-side executives by BNP Paribas Securities Services and TABB Group
Citi recruits Matthew Bax
21 June 2017 | London | Reporter: Barney Dixon
Citi has hired Matthew Bax as its Europe, Middle East and Africa (EMEA) head of sales for custody and fund services
Denise Voss re-elected as ALFI chair
21 June 2017 | Luxembourg | Reporter: Stephanie Palmer
The Association of the Luxembourg Funds Industry has re-elected Denise Voss to serve a further two years as chair of the board of directors
More news