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ECMS postponed until April 2024
05 December 2022 EU
Reporter: Bob Currie

The ECB has postponed the launch of the Eurosystem Collateral Management System by almost six months to avoid potential friction caused by delayed release of the T2 RTGS payments system

OCC cleared securities lending volume climbs 8.6% for November
02 December 2022 US
Reporter: SFT

Securities lending volumes cleared through OCC have grown to 188, 346 transactions for November, but average daily loan value for securities lending trades has fallen 19.31 per cent YoY to US$111.6 billion

OCC names Thakkar as chief risk officer
02 December 2022 US
Reporter: Carmella Haswell

Vishal Thakkar is responsible for implementing OCC’s risk management framework and serves on the Management Committee

GLMX reaches US$1 trillion in daily balances
01 December 2022 US
Reporter: Carmella Haswell

Growth has been driven by new and existing client activity globally across a broad collateral set, with the balance split equally between flow coming from North America and EMEA

EBA publishes real-time data in liquidity management report
01 December 2022 France
Reporter: Lucy Carter

The report marks the sixth installment to the EBA Liquidity Management Working Group’s publications on the bank and corporate client relationship in the liquidity management ecosystem

ESMA backs actions of Irish and Luxembourg regulators on LDI fund resilience
01 December 2022 Ireland, Luxembourg
Reporter: Bob Currie

The Central Bank of Ireland and Commission de Surveillance du Secteur Financier yesterday wrote to managers of GBP LDI funds outlining actions to protect fund resilience, including the impact of market shocks on collateral calls and forced sales

Euronext completes acquisition of Nexi technology businesses
01 December 2022 Italy
Reporter: Jenna Lomax

Euronext Group has finalised acquisition of the technology businesses currently powering MTS and Euronext Securities Milan from Italian technology provider Nexi. The transaction was first announced in June

Clear Street launches trading system for securities lending market
01 December 2022 UK
Reporter: Carmella Haswell

ATLAS is a proprietary trading system that allocates stock loan inventory to incoming customer requests

PRA adds UK twist for implementing latest Basel standards
30 Novembeer 2022 UK
Reporter: Bob Currie

The proposed package aligns closely with Basel 3.1 standards, but adds specific UK refinements where the Prudential Regulatory Authority believes this will capture risk more effectively and promote the competitiveness and relative standing of the UK

DTCC publishes CBDC pilot findings
30 November 2022 US
Reporter: Lucy Carter

DTCC has published the findings of its pilot programme investigating how tokenised securities and a wholesale CBDC would operate in the US settlement infrastructure

State Street terminates acquisition of BBH’s Investor Services business
30 November 2022 US
Reporter: Carmella Haswell

State Street agreed that “it is not in the best interests of clients, shareholders or employees to continue to invest time and resources in the transaction in this challenging financial services M&A environment”

CrossTower to buy BEQUANT as part of reset of digital asset market
30 November 2022 US
Reporter: Bob Currie

New York-based crypto-exchange says the BEQUANT acquisition will reinforce its global product expansion and add a further 600 professional customers, generating more than US$400 billion in annual turnover, to its book of clients