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- Global Custody Pro - Issue #1
Global Custody Pro - Issue #1
Euronext, JTC plc, SGX, FBI, NASDAQ, UniCredit and more...
Global Custody Pro
September 21, 2024 • Time To Read: 4 minutes
Thanks for subscribing to Global Custody Pro. Our goal is to help you understand what's happening in global custody, clearing, payments, and digital assets. We pick the most important news from many different sources. We want to help you keep up with this important and complex field.
Industry News
Pan-European market infrastructure Euronext has finished migrating LCH SA clearing to Euronext Clearing marking the end of a 3 year program. Euronext Clearing will now be the 3rd largest clearing house in Europe in terms of total collateral. LINK
Global trust service provider JTC plc continue their growth, buying Citigroup Inc’s private trust arm Citi Trust for USD80mn. This will add ~USD70bn in assets under administration in their global trust services business. LINK
Argentina’s stock exchange Bolsas y Mercardos Argentinos (BYMA) has selected NASDAQ technology for its clearing house to align the existing relationship with Argentina’s central securities depository Caja de Valores. LINK
At the PostTrade 360 Nordic 2024 conference, Roman von der Hoeh from RAQUEST Switzerland spoke about the potential for digital transformation in the withholding tax space. Existing tax reclaim processes in the European Union are not standardised. LINK
Reuters reports that the US Federal Reserve’s plan to water down Basel capital requirements could face pushback from the Federal Deposit Insurance Corporation. LINK
The Swiss Federal Council announced a consultation on amending the Financial Market Supervision Act and other pieces of legislation to uplift Swiss financial services regulation. LINK
People News
The Wall Street Journal has a profile of Unicredit CEO Andrea Orcel, in the news again after buying 9% of Commerzbank from the Government of Germany. LINK
Singapore Exchange (SGX) CEO Loh Boon Chye was paid SGD7.57mn for the 2024 financial year on the back of a net profit increase of 4.7% to SGD597.9mn. LINK
