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Burgundy launches competitive clearing

14 May 2012 Stockholm
Reporter: Mark Dugdale

Nordic securities exchange Burgundy has launched a competitive clearing service that allows customers to choose between European clearinghouses the European Multilateral Clearing (EMCF) and SIX x-clear...

UBS fund administration lured to Big Apple

11 May 2012 London
Reporter: Georgina Lavers

It has been reported that the hedge fund administration sector of UBS is launching its first US location in New York, due to demand from clients for a local administrative presence...

Markit continues expansion with Cadis purchase

11 May 2012 London and New York
Reporter: Mark Dugdale

Financial information services company Markit has agreed to purchase Cadis, an enterprise data management provider. The deal follows Markit’s acquisition of securities lending data provider Data Explorers in April...

SIX’s Turkey expansion with Takasbank, MKK

08 May 2012 Turkey
Reporter: Georgina Lavers

Post-trade services provider SIX Securities Services signed an MoU with both Takasbank and MKK to provide international clearing, settlement and custody services...

Sweden’s NASDAQ to reduce custodian dependency

08 May 2012 Stockholm
Reporter: Georgina Lavers

Sweden-based exchange and clearing company NASDAQ OMX Stockholm (OMX STO) set up three clearing funds to mutualise risk, and revised its collateral management structure so as not to rely too heavily on custodians that are also clearing members...

Fund managers buy J.P. Morgan fund admin business in South Africa

08 May 2012 Cape Town
Reporter: Mark Dugdale

South Africa-based Old Mutual Investment Group Holdings and Sanlam Investment Holdings have agreed to purchase the shares of J.P. Morgan Administration Services...

Neuflize subsidiaries select CACEIS

08 Mat 2012 Paris
Reporter: Mark Dugdale

Neuflize OBC Investissements and Neuflize Private Assets have chosen CACEIS to act as the administrative and accounting manager of their French mutual funds and custodian of mandates...

FTT a blow for UK, warns House of Lords

04 May 2012 London
Reporter: Georgina Lavers

More than 70 per cent of cash raised by the Financial Transaction Tax (FTT) proposed by the EC would come from the UK, a House of Lords committee has cautioned...

BNY Mellon to serve as depository for Brazilian investment bank

04 May 2012 New York
Reporter: Mark Dugdale

BNY Mellon has become the depository for BTG Global Depository Units to support the Brazilian investment bank’s global initial public offering...

State Street releases OPERA solution

04 May 2012 Boston
Reporter: Mark Dugdale

A new open protocol enabling risk aggregation (OPERA)-compliant reporting solution has been launched for hedge fund managers and institutional investors...

NSD and KSD agree cooperation deal

03 May 2012 Moscow and Seoul
Reporter: Mark Dugdale

Russia’s National Settlement Depository has signed a memorandum of understanding with the Korea Securities Depository that will contribute to improving the health of the countries’ financial markets and promote cross border investment...

DTCC wraps up repositories

03 May 2012 London
Reporter: Georgina Lavers

The Depository Trust & Clearing Corporation (DTCC) began user testing of its new global trade repository service for foreign exchange on 1 May, and is planning full production by the fourth quarter...

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