07 December 2016
Visit aciworldwide.com

European exchanges agree clearing and settlement code

01 November 2006  |  9641 views  |  0 EU flag

European stock exchanges are set to sign up to a code of conduct designed to slash the cost of trading shares across borders by injecting more transparency and competition into clearing and settlement operations.

The move to reach a voluntary deal comes as the European exchange and clearing community bids to head off proposed legislative reforms threatened by the European Commission.

News of the agreement was leaked to the reporters late yesterday. It's understood that the signatories to the code - which will include all the major European bourses and independent depositories - will first act to publish definitive prices for clearing and settlement, and follow this with plans to introduce interoperability standards across markets.

Exchange's which currently offer a vertically integrated model for trade execution and clearing and settlement, such as Deutsche Börse and Italy's Monte Titoli, will be expected to 'unbundle' their services under the agreement.

The new code of conduct has reputedly won the support of large investments banks and will be formally signed next week.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Eurex Clearing sets sight on UK market

Eurex Clearing sets sight on UK market

15 September 2006  |  4229 views  |  0 comments
European Commission to lay down the law on clearing and settlement

European Commission to lay down the law on clearing and settlement

10 July 2006  |  6437 views  |  0 comments
SIS x-clear vows to undercut LCH.Clearnet

SIS x-clear vows to undercut LCH.Clearnet

02 June 2006  |  7056 views  |  0 comments
LSE teams with SIS x-clear to offer choice of clearing services

LSE teams with SIS x-clear to offer choice of clearing services

24 May 2006  |  8640 views  |  0 comments
Patchy progress for G30 clearing and settlement reforms

Patchy progress for G30 clearing and settlement reforms

24 May 2006  |  4789 views  |  0 comments
EU threatens clearing and settlement legislation

EU threatens clearing and settlement legislation

07 March 2006  |  7040 views  |  0 comments
Commission in clearing and settlement talks with top bankers

Commission in clearing and settlement talks with top bankers

22 February 2006  |  7209 views  |  0 comments
European market users call for break-up of siloed exchanges

European market users call for break-up of siloed exchanges

20 February 2006  |  8888 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit aciworldwide.comVisit capgemini.comVisit VocaLink.com

Who is commenting?

A Finextra member Finextra Member Commented on: Payments regulator blo...
A Finextra member Finextra Member Commented on: Payments regulator blo...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7459 views 12 comments | 15 tweets | 27 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6974 views comments | 25 tweets | 15 linkedin
China tops world fintech rankingsChina tops world fintech rankings
6674 views comments | 34 tweets | 30 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6149 views comments | 18 tweets | 19 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5695 views comments | 22 tweets | 11 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job