Brussels
15 March 2017
Reporter: Drew Nicol
Euroclear to enter US equity clearing space
Euroclear is on the cusp of gaining access to providing limited clearing for US equities.

The US Securities and Exchange Commission (SEC) has agreed to an information sharing arrangement with the National Bank of Belgium (NBB)—where Euroclear is headquartered—thereby enabling it to refer to the NBB for Euroclear’s registration information and fast-track the bank’s entrance into the US market.

The SEC initially approved Euroclear’s application to modify its exemption from registration to clear US equities in December 2016.

The SEC and the NBB added an addendum to their 2001 Understanding Regarding An Application of Euroclear Bank for an Exemption under US Federal Securities Laws to allow for Euroclear’s new US business lines.

The president of this exemption was set when the SEC originally allowed Euroclear’s predecessor to provide clearing services for US government securities in 1998.

Paul Leder, director of the SEC’s office of international affairs, said: “This addendum will expand the signatories’ ability to cooperate and exchange information related to Euroclear Bank and augment the SEC’s oversight of Euroclear Bank’s activities under its exemption order.”

More Industry 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
Hague: Financial services will thrive after Brexit
25 April 2017 | London | Reporter: Stephanie Palmer
Lord William Hague sees a positive future for the UK’s financial services industry post-Brexit, but attendees at SWIFT Business Forum London were not so easily convinced
Sharing is caring is cyber crime combat
25 April 2017 | London | Reporter: Stephanie Palmer
A more holistic and communicative approach is required to tackle cyber crime in financial services, heard attendees of the SWIFT Business Forum
AxiomSL wins commodity transaction and trading reporting mandate
24 April 2017 | London | Reporter: Stephanie Palmer
Commodity trading firm Trafigura PTE has selected the AxiomSL platform for its global trade and transaction reporting
Record-breaking Q1 for BNY Mellon
21 April 2017 | New York | Reporter: Stephanie Palmer
BNY Mellon saw record breaking levels of assets under custody and/or administration in Q1 2017, reaching a total of $30.6 trillion
BlackRock sees uptick in AUM
20 April 2017 | New York | Reporter: Stephanie Palmer
BlackRock’s total assets under management (AUM) have seen a 14 percent increase to reach $5.2 trillion, its Q1 2017 results have revealed
BNP Paribas to improve fund distribution
19 April 2017 | London | Reporter: Becky Butcher
BNP Paribas Securities Services has developed a new digital fund distribution platform in partnership with AXA Investment Managers
Top banks reveal Q1 securities growth
18 April 2017 | New York | Reporter: Drew Nicol
Wall Street big hitters post strong securities services revenue growth for Q1
More Industry news