NO 227 – JANUARY 2012
2011 AFTERMATH

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SERVICES
WFE Focus January 2012
Post trade

DTCC files with SEC to operate CCP for mortgage-backed securities
The Depository Trust & Clearing Corporation announced that the Mortgage-Backed Securities Division of its Fixed-Income Clearing Corporation subsidiary has filed an application with the US Securities and Exchange Commission to provide central counterparty and pool netting services for trades in US mortgage-backed securities. This initiative is designed to reduce the risks and costs associated with trading in the USD 100 trillion-a-year market.

SIX x-clear signs MoU with Prague Stock Exchange
The clearing arm of SIX Securities Services, SIX x-clear, has signed a Memorandum of Understanding with the Prague Stock Exchange to become the international clearing house for the Czech market. It will offer its clearing and risk management services to the cash markets operated by the Prague Stock Exchange over the course of 2012 by establishing interoperability with CSD Prague. The Czech market will benefit from choice and competition in clearing, resulting in more efficient services and lower end-to-end costs.

Taiwan Stock Exchange and Gretai Securities Market revise clearing fund
The revised clearing fund of Taiwan Stock Exchange and Gretai Securities Market is effective from 1 January 2012. In addition, a new measure called “monthly tracking system” will be also implemented. It requires that the contribution of individual securities firm shall not fall under 80% of its average daily value at risk (VAR) of the previous month.

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