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ESMA calls for evidence on shortening settlement cycle
06 October 2023 Europe
Reporter: Carmella Haswell

The move aims to help ESMA assess the costs and benefits of a possible reduction of the settlement cycle in the European Union to T+1

MarketAxess appoints Pavan
05 October 2023 UK
Reporter: Carmella Haswell

Neelan Pavan, former product manager at Pirum Systems, joins MarketAxess as technical product manager for its post-trade product team

Global securities finance revenue climbs 1% for Q3 2023, says DataLend
04 October 2023 US
Reporter: Carmella Haswell

In September 2023, the industry generated US$767 million in revenue for lenders, representing a 6 per cent decrease from the previous year

OCC average daily loan value up 20.2% YoY for September
04 October 2023 US
Reporter: Carmella Haswell

The Options Clearing Corporation records a 20.2 per cent year-on-year increase in average daily loan value for securities lending trades, generating US$147.3 billion for September

EXCLUSIVE: Challice to depart from J.P. Morgan
04 October 2023 UK
Reporter: Carmella Haswell

Ben Challice, global head of Trading Services, securities finance, J.P. Morgan Chase, is to depart from the firm after six years of service

Banerrji to lead State Street in India
04 October 2023 India
Reporter: Lucy Carter

In the Bengaluru-based role, Banerrji will be responsible for the growth and transformation of the firm’s operations in India

Abu Dhabi Pension Fund picks Northern Trust for securities lending services
03 October 2023 UAE
Reporter: Jenna Lomax

Abu Dhabi Pension Fund has selected Northern Trust to provide its securities lending and global custody services, effective 1 January 2024

Clear Street hires Bisgay as chief financial officer
03 October 2023 US
Reporter: Carmella Haswell

The New York-based firm has expanded its senior leadership team with Steve Bisgay as chief financial officer, Ursula Clay as chief compliance officer, and Brent Posner as chief operating officer

BCBS releases adoption progress update
03 October 2023 Switzerland
Reporter: Lucy Carter

The update considers outstanding standards that remain after the Basel III framework’s 1 January 2023 implementation date, outlining progress that has been made by BCBS member jurisdictions since the end-September 2022 update

ESMA withdraws third-country clearing recognition from JSE Clear
02 October 2023 South Africa
Reporter: SFT

The European Securities and Markets Authority (ESMA) has terminated clearing recognition for JSE Clear, the central counterparty wholly-owned by the Johannesburg Stock Exchange, following South Africa’s addition to the AML blacklist

EXCLUSIVE: Ingalls and Snyder select Losurdo to lead new sec lending business
02 October 2023 US
Reporter: Carmella Haswell

Gerard Losurdo, former co-head of Siebert Financial’s securities finance group, will join the New York-based firm alongside Joseph Lotito and Stephen Tran to lead a new securities lending business unit

EXCLUSIVE: PASLA selects Howard as its first CEO
02 October 2023 Hong Kong
Reporter: Carmella Haswell

Stephen Howard brings almost 30 years’ industry experience to the newly formed position, where he will establish and implement PASLA’s engagement strategy while advocating for Association members