Euroclear announced plans for a new Irish CSD as it continues its preparation for the UK’s exit from the EU.
The DTCC-Euroclear margin transit utility (MTU) service was initially set to launch in 2015 but has been hit by a number of delays.
CTO Mostrey to take over top role next year.
State Street has agreed to pilot the service in order to deal with incoming collateral rules.
Euroclear believes questions surrounding Blockchain will begin to be answered as real solutions using the technology begin to be rolled out.
DTCC's Jennis said use of the utility won't take off until after the start of the margin requirements.
The partnership could see increased buy-side activity in tri-party repo.