18 August 2017
visit www.avoka.com

London Stock Exchange to open central securities depository

16 July 2013  |  6048 views  |  0 London stock exchange 1

The London Stock Exchange is to open a central securities depository (CSD) in Luxembourg to provide a full range of custody and settlement services across the eurozone.

The move by the Exchange builds on the existing infrastructure of the LSE's Italian CSD, Monte Titoli, and pits it into direct competition with Clearstream and Euroclear.

The LSE says it has already reached an agreement with JPMorgan Chase to provide the big US bank with settlement, custody and asset servicing services for its international collateral management business.

Under European Market Infrastructure Regulation (Emir), central counterparties (CCPs) are required to hold collateral assets posted as margin or as default fund contributions at a securities settlement system, such as a CSD, where possible.

Raffaele Jerusalmi, CEO of Borsa Italiana and director of capital markets, LSE says: "The Group is well placed to provide a full range of post trade services to meet the evolving needs of our customers arising from on-going financial regulatory change and the continued focus on operational efficiency."

He says Luxembourg was selected as the location for this new service as a result of customer demand.

Subject to regulatory approvals, the CSD is expected to launch in the first half of 2014.
KeywordsDEPOSITORIES

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

London Stock Exchange to acquire Turquoise Derivatives

London Stock Exchange to acquire Turquoise Derivatives

05 July 2013  |  7153 views  |  0 comments | 5 tweets | 4 linkedin
JPMorgan launches Collateral Central

JPMorgan launches Collateral Central

17 June 2013  |  6050 views  |  0 comments | 4 tweets
IT savings to the fore as LSE agrees revised offer for LCH.Clearnet

IT savings to the fore as LSE agrees revised offer for LCH.Clearnet

07 March 2013  |  5822 views  |  0 comments | 2 linkedin
LSE acquires controlling interest in Gatelab

LSE acquires controlling interest in Gatelab

11 February 2013  |  5891 views  |  0 comments | 1 tweets | 1 linkedin
Borsa Italiana prepares for weekend switch to MillenniumIT

Borsa Italiana prepares for weekend switch to MillenniumIT

21 June 2012  |  4480 views  |  0 comments
Shagoury made COO, Milne leaves in LSE management reshuffle

Shagoury made COO, Milne leaves in LSE management reshuffle

12 June 2012  |  6807 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10361 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8546 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7963 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7939 views comments | 3 tweets | 7 linkedin

Featured job


Brussels or Frankfurt

Find your next job