All clearing and settlement news

Turquoise enhances investor access to trade US shares with direct settlement into DTC

28 September 2021 UK
Reporter: Maddie Saghir

The new expansion will allow global investors to trade in a greater number of US stocks through one connection, alongside UK, Swiss and European securities

Russia’s NCC sharpens dividend handling for MOEX-listed international shares

17 September 2021 Russia
Reporter: Bob Currie

National Clearing Centre (NCC) has been granted Qualified Derivatives Dealer (QDD) status by the US Internal Revenue Service, streamlining income collection for USD-denominated shares listed on MOEX

DTCC’s Project Ion advances into development phase

15 September 2021 US
Reporter: Maddie Saghir

“Project Ion holds the promise of new settlement functionality supported by robust technical capabilities and is a key part of our on-going efforts to further accelerate settlement," says Michele Hillery

DTCC’s FICC launches sponsored general collateral service

07 September 2021 US
Reporter: Bob Currie

Initial trades on FICC’s sponsored GC service executed by Federated Hermes, BNY Mellon and J.P. Morgan Securities, enabling centrally cleared repo transactions to settle on BNY Mellon's tri-party platform

KGiSL awarded back-office contract by Stock Exchange of Thailand

19 August 2021 Thailand
Reporter: Jenna Lomax

KGiSL's offering will be hosted by SET and made available to all capital market brokers in Thailand

Foreign banks permitted to become direct clearing members of Russia’s NCC

09 August 2021 Russia
Reporter: Bob Currie

International banks may become direct clearing members of Moscow Exchange Group’s clearing entity, with NCC launching tax agent service

RBC Wealth Management US chooses Broadridge for asset services

29 July 2021 US
Reporter: Jenna Lomax

RBC Wealth Management US has selected the Broadridge wealth management platform to power its growing US business

Inadequacies of middle-office resulting in settlement failures, survey finds

27 July 2021 London
Reporter: Jenna Lomax

In a recent Torstone Technology survey, 60 per cent of institutions said that settlement failures, attributed to inadequacies of the middle-office, are still a significant problem for their business

BoE confirms supervisory action against Euroclear UK and Ireland following settlement outage

25 June 2021 UK
Reporter: Bob Currie

The Bank of England has initiated supervisory action against Euroclear UK and Ireland in connection with an outage in its CREST settlement system in September 2020

LCH EquityClear boosts services offering

25 June 2021 UK
Reporter: Maddie Saghir

EquityClear is LCH’s UK-registered equities clearing service, with connectivity to 16 trade venues and 19 Central Securities Depositories (CSDs) across Europe

De Volksbank joins Eurex’s ISA Direct

15 June 2021 UK
Reporter: Maddie Saghir

Dutch bank De Volksbank has joined Eurex’s ISA Direct model, to gain the benefits of direct clearing membership to a broader range of institutions

Gensler spotlights SEC thinking on T+0 settlement and payment for order flow

10 June 2021 US
Reporter: Bob Currie

Time equals risk in financial markets and recent events have triggered questions around whether risk can be lowered through shortening the T+2 settlement cycle, says US SEC chair Gary Gensler

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