Comyno’s Post

[📆 Capital Markets' #Chronicle] 24 March 2000: Announcement of the merger between Sicovam and Euroclear. On this day 24 years ago, Sicovam (Société Interprofessionnelle pour la Compensation des Valeurs Mobilières, founded in 1949), the French central securities depository, and Euroclear announced their merger. With effect from 2001, Sicovam became Euroclear France, a wholly owned French subsidiary of Euroclear. Euroclear (based in Belgium), together with Clearstream (based in Luxembourg), is one of the two international Central Securities Depositories (CSDs) located in the European Union and used on the Eurobond market, alongside domestic CSDs such as Sicovam/Euroclear France. The core services provided by CSDs include (i) the initial recording of the securities in a book-entry system to ensure that the number of securities created is at all times equal to the total number of securities in circulation ("notary service"), (ii) providing and maintaining securities accounts at the top tier level, for example to process corporate actions such as interest payments ("central maintenance service") and (iii) operating a securities settlement system allowing for the settlement of securities transactions ("settlement service"). Central Securities Depositories (CSDs), together with Central Counterparties (CCPs), play an important role in maintaining the post-trade infrastructures that safeguard financial markets and provide market participants with confidence that securities transactions are executed in an orderly and timely manner. Due to their systemic importance for the functioning of securities markets, CSDs are notably regulated in the European Union by Regulation (EU) No. 909/2014 of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (the Central Securities Depositary Regulation - CSDR).  Dematerialisation was introduced in France by Law No. 81-1160 of 30 December 30 1981 on the Finance Act of 1982, implemented by a decree of 2 May 1983 and entered into force on 3 November 1984. Since then, securities governed by French law have been fully dematerialized and title to securities in dematerialised bearer form (au porteur) is evidenced by book-entries (inscription en compte) in the books of authorised financial intermediary institutions (including Euroclear and Clearstream) entitled to hold accounts directly or indirectly on behalf of their customers with Euroclear France. #capitalmarkets #CSD #Euroclear

Congratulations on closing 2023 with formidable rankings to our sister company Dimension Investments, a member of AMX | Armenia Securities Exchange and Central Depository of Warsaw Stock Exchange (GPW) Ranked #1 corporate securities Underwriter and Placement Agent among investment services and brokerage companies of Armenia, with 80% of issued securities tranches and 79% of total issued volumes. (the issuer and the underwriter are separate entities) Ranked #2 corporate bonds Underwriter and Placement Agent by number of tranches among financial institutions of Armenia, including commercial banks and investment services and brokerage companies, with 33% market share. (the issuer and the underwriter are separate entities) Ranked #4 corporate bonds Underwriter and Placement Agent by the total volume of issues among financial institutions of Armenia, including commercial banks and investment services and brokerage companies, with 10% market share. (the issuer and the underwriter are separate entities) https://lnkd.in/dcAQZMhC

I am pleased to report our robust Q2 2024 results, driven by our diversified business model. This performance was fuelled by significant growth in non-volume-related businesses, as well as strong growth in clearing and trading, particularly in Fixed Income. As recent projects, we successfully migrated the production data centre of the MTS Markets to the core data centre in Bergamo last May, and in July we successfully migrated the clearing of commodity derivatives to Euronext Clearing from LCH SA. Euronext also pursued strategic expansion with the acquisition of Global Rate Set Systems (GRSS), enhancing its position in the calculation and administration of interbank offered rate indices. This acquisition is expected to bolster the growth of Euronext’s non-volume-related revenues. Innovation remains a priority for Euronext, as demonstrated by the launch of the Euronext Wireless network in July, becoming the first exchange in Europe to offer “Plug & Play” order entry in London via microwave technology, significantly enhancing order transmission speed and reducing latency. Additionally, the Mid Point Match initiative for dark trading continues to gain traction, with increasing volumes each month.

Join ISDA online on May 23rd for a virtual conference on Documentation for Digital Asset Derivatives. Can't attend live? Register to receive access to the recording! Details here: https://lnkd.in/eKwtEmSk On January 2023, ISDA launched new standard documentation for the trading of digital asset derivatives, intended to bring greater clarity to this asset class by creating a consistent contractual framework for digital asset derivatives under the umbrella of the ISDA Master Agreement. This event will provide a comprehensive description of the ISDA Digital Asset Derivatives Definitions and set out areas of potential future work, including use in DLT-based applications, including smart contracts. 

Partner and Head of Derivatives and Structured Products, Jonathan Gilmour and Associate, Tom Purkiss, have also contributed to the expert chapter analysis in this year's edition of the International Comparative Legal Guides (ICLG). Their work addresses trends in the derivatives market and how recent fintech developments, including the use of smart contracts and the implementation of digital asset referencing derivatives, are reshaping the space. Read the chapter now: https://lnkd.in/eAHGFrjz #derivatives #ISDA #fintechdevelopments

Escrow and Settlement arrangements are often a last-minute requirement in a transaction, and any setup delays can end up pushing back your completion date. That's why you need a partner that can execute fast, while still ensuring the security of your assets and data. Sven Haase, Commercial Director of Capital Markets at Vistra, explains how our breadth of experience and our PSD2 license provide speed and certainty when executing Escrow and Settlement services. Learn more about our Escrow and Settlement services here: https://hubs.li/Q02kTdnL0 #vistra #capitalmarkets #escrow #structuredfinance

Saxo Pros/Cons: 👍 Systemic Bank In Denmark 👍 Reporting On Par With Listed Companies 👍 Multiple Banking Licences 👍 Competitive Transaction Fees ⌛ Automatic Investing Not Yet Rolled Out 😕Fees/Features Not unified across the EU 😕Security Lending Required To Waive Custody Fees In Certain EU Countries 🚩Prohibitive Custody Fees In The UK Saxo Bank https://lnkd.in/eSCvWtsz

✅ Euronext ARM services to eflow MiFIR Reporting Solution ✅ In the build up to this announcement, we have helped multiple firms seamlessly transition from Euronext's ARM services to eflow's MiFIR transaction reporting tool. One of the ways we have made this process light-touch for our clients is adapting our data requirements to remove the need of firms having to amend their Euronext file formats to our solutions. This saves both costs and resources which can often be a labor intensive exercise. If your firm happens to be in a similar position and you're interested to hear more, please get in touch with Mark Thornborrow or myself to discuss further. #MiFIR #ARM #transactionreporting #euronext #ESMA

Euronext Clearing will be attending FOW #TradingAmsterdam24 and speaking on a panel about the evolution of clearing at Euronext’s bi-annual Retail Broker Advisory Committee at Euronext Amsterdam in less than 3 weeks. Catch Roberto Pecora, Cristina Belloni and Lioudmila Abramova at the Euronext booth of the FOW conference, to discuss final steps and latest news before Euronext Clearing expansion to all Euronext’s #commodities and financial #derivatives markets by Q3 2024. This key milestone to create a robust, cross-border and multi-asset clearing house for Euronext aims at further fostering unified European capital markets, and helping our customers develop their business thanks to quick time-to-market, greater efficiencies and a trusted clearing environment. #posttrade #clearing

I'm delighted to share this article from FinanceFeeds discussing the evolving regulatory environment in Europe and how this impacts the brokerage industry. In the article I highlight how strategic investments and partnerships are key for navigating this transition successfully, positioning brokers as leaders in a transforming financial services era. #Brokers #CFDs #Compliance #Regulation #Muinmos