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BNY Mellon posts YoY securities lending revenue decline
20 April 2021 US
Reporter: Alex Pugh

The bank’s securities lending revenues continued to improve on the second half of 2020

Deadline looms for no-action period on 15c3-3 fully-paid lending programmes
19 April 2021 US
Reporter: Drew Nicol

In October 2020, SEC staff raised concerns that several broker-dealers were not fulfilling their obligations under Rule 15c3-3 by retaining control over the collateral used to secure borrowings of fully paid and excess margin securities

State Street to launch ESG securities lending collateral investment strategy
19 April 2021 US
Reporter: Alex Pugh

The financial services’ securities lending clients will benefit from the firm’s unique ESG scoring system

Exclusive: BMO exits agency lending
16 April 2021 US
Reporter: Drew Nicol

MUFG has inked a deal with BMO to acquire its agency lending clients in a move that will significantly bolster its North American footprint

Charles Schwab lending revenue maintains momentum
16 April 2021 US
Reporter: Drew Nicol

The US retail-broking giant improved on its stellar Q4 returns from its newly-bolstered securities lending business in the opening months of the year

BNY Mellon now offers FICC-sponsored cleared repo through investment portal
16 April 2021 US
Reporter: Alex Pugh

The sponsored cleared repo sector has climbed from approximately $30 billion in daily volume in early 2017 to a peak of over $525 billion in March 2019, with daily volumes in recent months consistently above $200 billion

ESMA’s first SFTR data quality report makes light reading
16 April 2021 France
Reporter: Alex Pugh

Despite a year of SFTR reporting, the European regulator’s data quality report is sparse on detail but ESMA says it’s on the case and will build out its findings next year

Market ‘cop’ Gensler confirmed as SEC chair
15 April 2021 US
Reporter: Alex Pugh

As the agency faces new challenges — crypto, post-GameStop retail investing, ESG, to name a few — the appointment of Gary Gensler signals the end of the Trump administration’s hands-off approach to financial markets

ISLA publishes new GMSLA legal opinion for Belgium
15 April 2021 UK
Reporter: Drew Nicol

Freshfields has supplied a final bankruptcy remoteness opinion under Belgian law to support the pledge version of the GMSLA

Pirum adds bilateral trading module to CollateralConnect platform
15 April 2021 UK
Reporter: Drew Nicol

The collateral platform now boasts a bilateral coverage extension which comes as a stand-alone module

BNY Mellon clients can now collateralise Chinese assets
14 April 2021 Hong Kong
Reporter: Alex Pugh

According to BNY Mellon, until now, there has been no mechanism to allow participants to use Bond Connect assets as collateral

CloudMargin appoints Helen Nicol as head of product
14 April 2021 UK
Reporter: Drew Nicol

After 14 years, Nicol has swapped VERMEG for CloudMargin to take on responsibility for its benchmark platform