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
Merrill Lynch first to fall foul of UK’s EMIR reporting rules
23 October 2017 | London | Reporter: Drew Nicol
The bank accepted a £34.52 million penalty relating to 68.5 million unreported transactions between February 2014 and February 2016
Wolters Kluwer chosen for risk and reg by Polish bank
23 October 2017 | Warsaw | Reporter: Theo Andrew
Bank BPS will use the OneSumX solutions for static and dynamic projection analysis, liquidity reporting, interest-rate and foreign-exchange risk, as well as value-at-risk analysis
Iberclear bank on Citi to provide global custody
20 October 2017 | Madrid | Reporter: Jenna Lomax
The agreement, signed at this years Sibos conference in Toronto, will enable Spanish clearing houses to settle international securities via local CSDs
Clearstream promises post-Brexit services continuity
20 October 2017 | London | Reporter: Jenna Lomax
Despite the uncertainty that came after the referendum results last year, Clearstream said its main objective through Brexit was to minimise risk of cross-border settlement
AI will be transformative, but is still in early stages
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Artificial intelligence is a “transformational technology” that will improve productivity and security, and provide a competitive advantage, according to a live poll at Sibos 2017
Security and standards key in blockchain solutions
19 October 2017 | Toronto | Reporter: Stephanie Palmer
Distributed ledger technology (DLT) solutions should embed security measures at their very core, especially in the financial services space, according to Sibos panellists
LCH promotes Daniel Maguire to CEO
19 October 2017 | London | Reporter: Jenna Lomax
Maguire, who has been COO of the same department since April this year, was previously senior vice president for commodity exotics and hybrids at J.P. Morgan
More news