Settlement

TARGET2-Securities (T2S), the project to build a single settlement engine for all European securities transactions, has been given the green light by the European Central Bank.

Euroclear, the European settlement services provider, has signed a ‘Memorandum of Understanding’ to acquire the Nordic Central Securities Depository (NCSD) from Nordea, SEB, Svenska Handelsbanken and Swedbank.

The European Central Bank is confident that Europe’s central securities depositories (CSDs) will support its TARGET2-Securities settlement initiative, following the detailed proposal issued last Friday.

Nasdaq OMX has said that its decision to use the European Multilateral Clearing Facility (EMCF) for its pan-European platform was steered by Chi-X’s decision to use the same service.

Settlement system Euroclear UK & Ireland is to cut the price of sending electronic transaction reports through its system to the UK Financial Services Authority (FSA) from 1 July.

ESP, a buy-side solutions provider, has integrated its new Clearvoyance post-trade aggregating software with trading technology firm Linedata’s LongView Trading order management system.

The Brazilian Clearing and Depository Corporation (CBLC) has signed a memorandum of understanding (MoU) with Euroclear and has been in partnership talks with settlements provider Omgeo.

SmartPool, NYSE Euronext’s new European block trading platform, has taken an important step towards its planned launch later this year.

Wall Street Systems, a provider of treasury, trading and settlement solutions, has acquired the assets of Aleri Global Banking (AGB), the wholesale banking division of Aleri.

Seven European central securities depositories (CSDs) have teamed up to establish Link Up Markets, a joint venture settlement and custody initiative aimed at improving efficiency and reducing costs of post-trade processing of cross-border securities transactions in Europe.