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WFE Focus April 2011
Post trade

BME: REGIS-TR launches trade repository service for FX OTC derivatives

REGIS-TR, the global OTC derivatives trade repository created by BME to allow market players to comply fully with the upcoming OTC derivative regulation both in Europe and in the US, will launch its foreign exchange (FX) reporting service in November 2011. This service development enhances its existing reporting service for interest rate derivatives that was launched in December 2010. The launch of the foreign exchange service anticipates mandatory reporting of OTC derivatives contracts for financial and non-financial institutions across the globe and prepares REGIS-TR customers for respective regulatory changes. For the contracts entered, REGIS-TR offers services including data management, certification, electronic matching and confirmation, as well as positions reconciliation.

DTCC and Clearstream enter strategic partnership for loans and collateral management services

The Depository Trust & Clearing Corporation and Clearstream announced they would establish a strategic partnership to support the bilateral loan (also known as credit claims) and syndicated loan markets. Clearstream will leverage DTCC’s Loan/SERV Reconciliation Service and begin to offer it in the first half of 2012. They will also develop bilateral loan services, which will be built on DTCC’s existing Loan/SERV platform and integrated with Clearstream’s collateral management platform. Under the strategic partnership, DTCC and Clearstream will distribute the Loan/SERV Reconciliation Service to existing and prospective clients across Europe, the Middle East, Africa and Asia.

DTCC implements ISO 20022 corporate actions announcement messages

Following a pilot program testing new ISO 20022 corporate actions announcement messages, the Depository Trust & Clearing Corporation has announced that the ISO 20022 messages will be ready for implementation this November. The pilot program tested corporate actions announcements for all event types, including dividends, principal and interest, and redemption and reorganization events, such as rights, tender offers, and warrants. Ultimately, all Depository Trust Company customers will have to transition to the ISO 20022.

LCH.Clearnet to accept gold as collateral

LCH.Clearnet is to extend the range of eligible collateral types to include gold bullion by the end of October 2011, subject to final regulatory approval. In accepting gold as cover for margin liability, LCH.Clearnet is delivering greater choice and flexibility to market participants.

MICEX clearing subsidiary admitted to CCP12

The National Clearing Centre, a subsidiary of MICEX, has been admitted to the Global Association of Central Counterparties, CCP12.

NASDAQ OMX Nordic plans central counterparty clearing
NASDAQ OMX Nordic plans to introduce a competitive central counterparty clearing by end of April 2012 in cooperation with EMCF, EuroCCP and SIX x-clear. Interoperability will allow members at NASDAQ OMX Nordic exchanges to choose between multiple clearing houses to clear and settle their trades. NASDAQ OMX Nordic implemented CCP clearing on its markets in Stockholm, Helsinki and Copenhagen in the autumn of 2009, and was then the first European exchange to announce its intent to introduce a competitive clearing model.

SIX Securities Services launches new DvP settlement service against gold

In a significant industry innovation, SIX Securities Services, the SIX Swiss Exchange global post trade services provider, launched the world’s first Delivery versus Payment (DvP) settlement capability against gold.

SIX Securities Services continues internationalization strategy

SIX Securities Services, the SIX Swiss Exchange global post trade services provider, opened Colombia as a new market for its customers and plans to open Cyprus by end-October 2011.

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