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EU supervisors confirm ranking in resolution waterfall following Credit Suisse takeover
21 March 2023 Switzerland
Reporter: Bob Currie

The EU Single Resolution Board (SRB) has issued a statement confirming that holders of Additional Tier 1 (AT1) instruments should rank ahead of holders of common equity in case of resolution or insolvency of a banking institution in the Banking Union

Natixis picks Adenza’s solution to automate regulatory reporting in Hong Kong
20 March 2023 France
Reporter: Jenna Lomax

The Adenza solution fully automates the regulatory reporting process by integrating, managing and reconciling volumes of disparate data

Central banks take action to enhance US dollar repo operations
20 March 2023 Global
Reporter: Carmella Haswell

The Bank of England will increase the frequency of seven-day maturity US dollar repo operations from weekly to daily, commencing on Monday 20 March 2023, as markets react to Credit Suisse troubles

UBS set to take over Credit Suisse in “emergency rescue”
20 March 2023 Switzerland
Reporter: Jenna Lomax

The mandate was signed without approval of shareholders, under emergency orders issued by the Swiss Federal Council, yesterday (Sunday 19 March)

Tonic appoints Churchill as global head of delivery
17 March 2023 UK
Reporter: Carmella Haswell

Charles Churchill joins Tonic with more than 15 years of experience in consultancy and leadership positions. He will play a crucial role in Tonic’s ongoing expansion and will strengthen the firm’s capabilities in delivering capital markets projects

European Repo Survey reveals new record high for outstanding repo value
17 March 2023 Europe
Reporter: Carmella Haswell

The total value outstanding of repos and reverse repos on the books of 61 institutions that took part in the survey hits a record high of €10,374.2 billion, a 12.8 per cent rise YoY and 7.2 per cent rise from the June 2022 survey

PASLA backs Korea Exchange CEO’s stance on short selling
17 March 2023 Korea
Reporter: Carmella Haswell

Removing short-selling restrictions will boost liquidity and improve price discovery, according to a PASLA representative

Tradeweb appoints Cook
16 March 2023 UK
Reporter: Carmella Haswell

Tim Cook joins the global operator of electronic marketplaces for rates, credit, equities and money markets as director of emerging markets

Clearstream’s GSF business falls 4% YoY in volume outstanding for February
16 March 2023 Luxembourg
Reporter: Carmella Haswell

Clearstream’s Global Securities Financing business contracted 4 per cent YoY to €550.6 billion in volume outstanding during February, according to its monthly figures

Torstone selects Farrell as head of North America
16 March 2023 Canada
Reporter: Carmella Haswell

Sam Farrell will have oversight of all US and Canadian operations for Torstone and will continue to expand the firm’s footprint in North America

Corlytics and Solidatus enter into regulatory reporting partnership
15 March 2023 UK, US
Reporter: SFT

This alliance will enable digitised regulatory information from Corlytics to be integrated into the regulatory data catalogues maintained by Solidatus and linked to data lineage models where they can be adapted to companies’ controls and systems

ICMA introduces bond data taxonomy
14 March 2023 Switzerland
Reporter: SFT

The International Capital Markets Association has released a bond data taxonomy (BDT) that provides a common, standardised language to facilitate STP across the bond transaction lifecycle and reduce inconsistent use of data in securities issuance