Calls for a global clearing solution for cross-border trading are to be discussed at a meeting of more than 70 financial firms in London next week.
The invitation-only event has been called by the Depository Trust & Clearing Corporation to discuss the future of global clearing. It follows the publication in October of a DTCC white paper calling for the creation of a global central counterparty for international securities trading.
David Hardy, chief executive, London Clearing House and the conference’s co-chair, says: "This is the first-ever global dialogue of practitioners focused on the challenges of seamless cross-border trading."
The conference programme will run over one and a half days with the aim of finding common ground for specific cooperation initiatives. Key topics include global trends, industry structure, risk management, collateralisation, regulation, and operational issues, such as settlement cycles and time-zone differences.
Jill Considine, chairman & CEO of DTCC and co-chair of the event, says: "Today, more than ever, we need to ensure the financial services industry infrastructure keeps pace with the growing demands for seamless cross-border trading by helping to minimise risk, lower cost, optimise capital efficiency and maximise liquidity for industry participants."