Tag: Euroclear

Euroclear

Six Firms Join DTCC-Euroclear Collateral Initiative

DTCC-Euroclear Global Collateral, the joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), has announced that the Margin Transit Utility (MTU) collateral settlement infrastructure community has added six more dealers to its roster as it moves beyond its pilot production phase.
Goldman Sachs, JP Morgan, Morgan Stanley, Societe Generale, UBS and Wells Fargo have adopted MTU, Global Collateral says, joining over 30 investment management, administrator and custodian firms, including Brandywine Global Investment Management, Fidelity International, Franklin Templeton, Vanguard and Brown Brothers Harriman (BBH) who have adopted the service.

LCH Introduces SwapClear Client Account

LCH has introduced a new type of client account within its SwapClear service.

The account allows buy side clients to deliver collateral directly to the clearing house and to retain beneficial title to it. Segregation at an International Central Securities Depository (ICSD) ensures that such securities collateral remains client-specific.

This aims to increase operational efficiency and also eliminates the transit risk arising where a client delivers collateral to the clearing house via its clearing member.

JP Morgan is the first clearing member, and Aviva Investors is the first buy side client, to use this new account type. BNP Paribas and HSBC have also confirmed their readiness to support the new account structure.

State Street to Pilot Margin Settlement Service

DTCC-Euroclear GlobalCollateral, a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), says that State Street has agreed to participate in a pilot program to test their Margin Settlement Messaging Service. The service, powered by Margin Transit Utility (MTU) technology, has been developed to provide straight-through-processing for the settlement of margin obligations. […]