All clearing and settlement news

HSBC and Wells Fargo use Baton Systems to complete first interbank PvP settlement outside CLS

13 December 2021 US
Reporter: Jenna Lomax

The world’s first interbank PvP settlement outside of CLS has been completed by HSBC and Wells Fargo using Baton Systems’ Core-FX solution, built on Baton’s distributed ledger technology

Guotai Junan Securities utilises Euroclear’s Yulan bond structure

26 November 2021 Brussels
Reporter: Jenna Lomax

Guotai Junan Securities is to begin utilising Euroclear Bank’s Yulan bond structure, enabling Chinese issuers to gain better exposure to a wider foreign investor base

Nigerian clearing house joins CCP12

22 October 2021 Nigeria
Reporter: Bob Currie

FMDQ Clear becomes an observer member of the global central counterparty association with immediate effect, supporting the development of the Nigerian post-trade services value chain towards global standards

AFME: T+2 is quicker than it used to be, but is it enough?

20 October 2021 UK
Reporter: Maddie Saghir

The settlement date for stocks used to be T+5, before moving to T+3, and now most markets operate on a T+2 settlement cycle, but panellists at the AFME conference discussed whether or not the T+2 cycle is enough

BoE launches CCP supervisory stress test

20 October 2021 UK
Reporter: Bob Currie

UK central bank will model credit and liquidity resilience of UK-registered CCPs under stress conditions, alongside impact on wider financial system

SBI Securities centralises settlement operations with Broadridge

20 October 2021 Japan
Reporter: Rebecca Delaney

SBI Securities has extended its partnership with Broadridge Financial Solutions by migrating the post-trade operations of its Hong Kong and Singapore businesses to Broadridge’s cloud-based ASP service in Asia

LCH includes SGD government securities and cash as eligible collateral

18 October 2021 Asia Pacific
Reporter: Bob Currie

Widening of collateral eligibility follows 24-hour opening at SwapClear as part of steps to improve clearing access for Asia-Pacific clients

Sibos: Never break the chain (in settlement)

14 October 2021 UK
Reporter: Jenna Lomax

Getting to the point of T+1 or even T+0 will be a question of funding, investment in technology, and testing the efficiency of links and connectivity in the settlement chain, according to Samuel Riley of Clearstream

DTCC’s CTM now used by more than 1,800 firms

12 October 2021 US
Reporter: Jenna Lomax

The Depository Trust & Clearing Corporation’s central trade manager (CTM) service for US domestic trade matching has grown to more than 1,800 firms, with organisations further consolidating global post-trade flows on a single platform

T+1 for equities will be standard within five years, predicts Citi

11 October 2021 UK
Reporter: Jenna Lomax

Some 50 per cent of market participants responding to a Citi survey predict that immediate settlement will be achievable within five years, and emerging technologies, such as distributed ledger technology, will be a key factor for enabling this

DTCC argues for extension of central clearing in US treasury markets

05 October 2021 US
Reporter: Bob Currie

FICC, the DTCC subsidiary, argues that central clearing provides widespread benefits to the US Treasury market, including lower credit risk and settlement risk, improved liquidity and market access, and a more orderly system for liquidating positions

KDPW reduces clearing, recording of securities, and corporate action fees

04 October 2021 Poland
Reporter: Maddie Saghir

KDPW, the CSD of Poland, is offering 13 temporary fee reductions in clearing, recording of securities, and corporate action processing from 1 October to 31 December 2021

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