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ISLA releases template clause for Austria
17 April 2023 Austria
Reporter: Carmella Haswell

The template follows a requirement from ISLA members to produce a standard form template clause to assist market participants when lending and borrowing Austrian securities

BoE and CFTC reinforce mutual supervision of cross-border CCPs
14 April 2023 US, UK
Reporter: SFT

Based on the 2020 MoU between the BoE and CFTC, the BoE has affirmed that it will continue to rely on CFTC’s supervision and oversight in the case of US-based CCPs that are “incoming” to the UK

Stone to lead Wedbush Securities FX prime brokerage service
14 April 2023 US
Reporter: Lucy Carter

The financial services provider’s new product will be available from May 2023, and forms part of its fixed income, currencies, commodities and securities finance division

ISLA publishes 2023 GMSLA netting opinions
14 April 2023 UK, Europe
Reporter: SFT

The International Securities Lending Association has released 2023 netting opinions to support the Global Master Securities Lending Agreement relating to transfer of title-based securities lending transactions

Mashru joins BNP Paribas
14 April 2023 Hong Kong
Reporter: Lucy Carter

Mashru has two decades of experience in the industry and joins BNP Paribas from Société Générale, where she was vice president

ION Markets’ LatentZero connects to Trumid
13 April 2023 US
Reporter: Lucy Carter

Through the new connection, ION Markets’ clients will have access to Trumid’s integrated market data intelligence tools, which provide greater transparency and an aggregated view of the market

ICMA releases 2023 GMRA legal opinion updates
13 April 2023 Switzerland
Reporter: Lucy Carter

Legal opinions on the GMRA are updated annually, and cover more than 60 jurisdictions

Tradeweb, Euroclear and IGM collaborate to build new solution for syndicated Eurobonds
12 April 2023 Belgium
Reporter: Jenna Lomax

The solution, expected to launch in Q3 of 2023, aims to improve the way investors access and manage critical pre-pricing data for newly-syndicated Eurobonds by providing security identification and set-up processes

LCH SA RepoClear reports new highs during Q1
12 April 2023 France
Reporter: SFT

Paris-based CCP has seen nominal cleared value for euro-denominated transactions rise 21 per cent YoY to a new high of €65 trillion. This was registered across 3.0 million trades, a 15 per cent increase on Q1 2022

Clear Street attracts US$270 Million in Series B funding
12 April 2023 US
Reporter: SFT

This is the second investment that Prysm Capital has made in Clear Street’s Series B funding, following on from a US$165 million commitment in May 2022, taking the value of the New York-based prime broker to close to US$2 billion

McDougall leaves Bank of America
11 April 2023 UK
Reporter: Lucy Carter

McDougall was appointed as head of EMEA stock loan trading in 2011, and was a director for the firm between 2011 and 2013

Goldman Sachs fined US$15 million for equity index swap violations
11 April 2023 US
Reporter: SFT

The Commodity Futures Trading Commission has fined Goldman Sachs for breaches around trade information, transparency and failing to meet business conduct standards required of swap dealers