State Street completes first trade with new FICC sponsored member ICE Clear US
The pair said that their partnership underscored the growing interest from the buy-side in Sponsored Repo services offered by State Street.
Post-Trade
BoE governor warns of rising tensions as EU derivatives clearing power struggle continues
Andrew Bailey says the UK must “resist very firmly” the EU’s attempts to force all euro-derivatives clearing into the bloc.
DTCC outlines two-year roadmap for transition to shorter settlement
A new white paper highlights the benefits of moving to a T+1 settlement cycle and details plans to achieve this in two years.
Citadel chief voices support for move to shorter settlement for US equities
The comments were made before the US House of Representatives’ Committee of Financial Services, which discussed the increased volatility from retail traders in January.
Citi clears first CDS index options through ICE Clear Credit
ICE Clear Credit launched its clearing services for CDS index options last year and expects to add options on iTraxx instruments to its offering in 2021.
Industry associations relentlessly protest the SDR buy-in regime
As the consultation period for Europe’s Settlement Discipline Regime concludes, industry associations again step up calls for the removal of mandatory buy-ins.
BNY Mellon commits to digital assets with dedicated crypto custody platform
BNY Mellon will offer its new digital assets custody and administration services later this year via new dedicated unit.
BNY Mellon and Google to work on eliminating settlement fails in US treasury market
BNY Mellon predicts its new initiative will help traders predict approximately 40% of settlement failures in Fed-eligible securities.
Nasdaq Clearing fined $36 million in Sweden for trader default
The fine was ordered by regulator in Sweden after a trader defaulted and Nasdaq Clearing had to tap its own funds to cover the losses.
European Commission grants equivalence to US equities clearing houses
The EU regulator has adopted an equivalence decision that determines US CCPs under the Securities and Exchange Commission regime as equivalent to EU rules.