There is a sense of déjà vu in the air with talk of a $28 billion merger between Deutsche Börse and the London Stock Exchange Group (LSEG). The two have been circling around each other for years but as in the past, rival exchanges may try and break the bond. This time around the Intercontinental… Read More >>
CloudMargin and Markit Move Valuation to the Cloud
CloudMargin to Feature Markit’s Portfolio Valuation Services The portfolio valuation services of Markit, a financial information services and systems vendor, will become available via CloudMargin, a cloud-based, collateral management software platform, say officials from both providers. The combine services are timed for upcoming requirements on initial and variation margin “within the BCBS IOSCO framework, set… Read More >>
Calpers CEO to Retire at the End of June
Calpers CEO to Retire by mid-2016 CEO for the California Public Employees’ Retirement System (Calpers) Anne Stausboll says she will retire as head of the nation’s largest public pension fund on June 30, 2016, at the end of the fund’s current fiscal year. Stausboll has been CEO since January 2009, and she took on the… Read More >>
Swaps Clearing in Europe Catching Up to U.S. Rules
The European Union has set the date for its clearing obligation, bringing European financial reform more into line with current U.S. obligations. The publication of the European Securities and Markets Authority’s (ESMA) regulatory technical standards (RTS) in the Official Journal of the European Union on December 1, 2015 will kick over-the-counter (OTC) derivatives clearing into… Read More >>
SwapClear to Use Markit’s New Netting Service
The SwapClear clearinghouse is using a netting synchronization service for cleared, over-the-counter (OTC) derivatives just launched by financial information services vendor Markit. Markit is introducing the service in a bid to help banks “automatically update their risk systems after netting and compression activity at their clearing houses,” say vendor officials. “Netting exposures within a clearing… Read More >>
CLS, LCH.Clearnet Partner for FX Service
Foreign Exchange (FX) settlement services vendor CLS has partnered with LCH.Clearnet to develop a service to facilitate the settlement of cleared FX products, officials say. The new service aims to help firms comply with goals set out by the G20 to promote clearing of standardized derivatives, and CLS says “it will be open to all… Read More >>
Mary Schapiro Joins LSE Board as a Non-Exec Director
London Stock Exchange Group (LSEG) officials report that former head of the SEC, Mary Schapiro, will join the LSEG board as a non-executive director, effective on the first of July. In addition, David Weisbrod, CEO of LCH.Clearnet, has been named LSEG’s U.S. country head. “In this new role, David will work closely with the business… Read More >>
LCH.Clearnet Appoints Global Head of Sales
LCH.Clearnet Group reports that Ali Hackett has been named to the newly created position of global head of sales and relationship management. She will be responsible for “maximizing the value, reach and range of the Group’s existing customer relationships whilst pursuing new member and client business opportunities,” according to a statement. Hackett, who will be… Read More >>
LCH.Clearnet Promotes for Head of CDSClear
Clearinghouse LCH.Clearnet has promoted Frank Sousan to global head of CDSClear, effective July 1, 2015, officials say. Sousan is currently head of In-Business Risk at CDSClear, and will be inheriting his new position from Gavin Wells, who will now “focus exclusively on ForexClear,” according to a company statement. Sousan will be based in Paris and… Read More >>
Borsa İstanbul to Buy LME’s Stake in LCH.Clearnet
Turkish exchange Borsa İstanbul will acquire the London Metal Exchange’s stake in clearinghouse LCH.Clearnet, under an agreement that will also see Hong Kong Exchanges and Clearing (HKEx), LME’s parent company, partner with Borsa İstanbul on the dissemination of market data, according to an LME statement. “Under the terms of the agreements, the LME will license… Read More >>
