State Street’s Collateral + business has gone live with DTCC’s Margin Transit Utility (MTU), which has been designed for simplifying the transfer of collateral among market participants. By leveraging MTU, State Street’s Collateral+ business will now be able to more efficiently validate, enrich, settle, report and monitor third party collateral while connecting to and sharing…
Category: Product
BNY Mellon/SNB Capital alliance goes live in Saudi Arabia
BNY Mellon and SNB Capital have gone live with their combined global securities services offering to institutional and large asset owners based in the Kingdom of Saudi Arabia (KSA). This comes after the 2020 agreement in which NCB Capital (now SNB Capital, following the merger with Samba Capital), KSA’s largest custodian, struck an alliance with…
J.P. Morgan makes senior custody appointments
Scott Markowitz has joined J.P. Morgan to head its Americas direct custody business. Markowitz spent four years at HSBC, most recently heading the securities services business in the Americas, following 16 years at BNY Mellon. J.P Morgan has also appointed Tom Casteleyn as head of global custody for EMEA, including responsibility for UK direct custody.…
BNP Paribas granted QFI licence in China
BNP Paribas has been granted a licence to provide custody services for China’s Qualified Foreign Investor (QFI) scheme. BNP Paribas can now directly support foreign institutional investors across the full scope of schemes, allowing access to China’s equities and bond markets, in addition to providing FX services. BNP Paribas China Limited was one of the…
Jeslyn Tan joins State Street as AsPac product development head
State Street has appointed Jeslyn Tan as Asia Pacific head of product management. Based in Singapore, Tan will will report globally to Brenda Lyons, global head of asset servicing product, and regionally to Mostapha Tahiri, chief executive officer for Asia Pacific. Tan joins from Deutsche Bank, where she was most recently global head of product…
Citi gets green light for China fund services
Citibank (China) Co., Ltd. has received final approval from the China Securities Regulatory Commission to launch securities investment fund custody services onshore. Citi is the first major global custodian to be authorised to operate a domestic Chinese fund custody business. Separately, Citi has opened an office at the Busan International Finance Center (BIFC) in Korea.…
State Street partners with Lukka for crypto asset admin
State Street is to provide digital and cryptocurrency asset fund administration capabilities for the firm’s private funds clients in partnership with Lukka, a crypto asset data and software provider. State Street will support its private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets. The partnership comes…
Zodia begins operations in UK
Zodia Custody, the UK-based crypto asset JV between SC Ventures, the ventures and innovation arm of Standard Chartered, and Northern Trust, is now registered with the UK’s Financial Conduct Authority (FCA). The registration means that Zodia Custody can now provide commercial services to clients as a cryptoasset business. Zodia Custody is one of nine cryptoasset…
State Street to acquire Mercatus
State Street has agreed to acquire U.S.-based Mercatus, Inc., a front-and-middle-office solutions and data management provider for private market managers. The transaction is expected to be completed in September, subject to customary closing conditions. Financial terms are not being disclosed. State Street intends to offer a fully integrated platform for growing private market segments including…
CACEIS deploys Broadridge’s SRD II solutions
In response to new regulatory obligations under the updated Shareholder Rights Directive (SRD II), CACEIS in Germany has selected Broadridge to provide solutions for SRD II. CACEIS is using Broadridge’s enhanced global proxy voting platform for its German domestic and cross-border custody operations, The bank is also using Broadridge’s new shareholder disclosure hub, both in…