15 March 2017
Brussels
Reporter: Drew Nicol
Euroclear to enter US equity clearing space
Euroclear is on the cusp of gaining access to providing limited clearing for US equities.

The US Securities and Exchange Commission (SEC) has agreed to an information sharing arrangement with the National Bank of Belgium (NBB)—where Euroclear is headquartered—thereby enabling it to refer to the NBB for Euroclear’s registration information and fast-track the bank’s entrance into the US market.

The SEC initially approved Euroclear’s application to modify its exemption from registration to clear US equities in December 2016.

The SEC and the NBB added an addendum to their 2001 Understanding Regarding An Application of Euroclear Bank for an Exemption under US Federal Securities Laws to allow for Euroclear’s new US business lines.

The president of this exemption was set when the SEC originally allowed Euroclear’s predecessor to provide clearing services for US government securities in 1998.

Paul Leder, director of the SEC’s office of international affairs, said: “This addendum will expand the signatories’ ability to cooperate and exchange information related to Euroclear Bank and augment the SEC’s oversight of Euroclear Bank’s activities under its exemption order.”

More news
The latest news from Securities Lending Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
ISLA: Liquidity objectives of CMU face obstacles
24 March 2017 | London | Reporter: Mark Dugdale
EU legislators should open up UCITS fund securities lending and pay closer attention to the lending of government bonds to meet its liquidity targets when developing the capital markets union
JCPenney comes into fashion for short sellers
24 March 2017 | London | Reporter: Katherine Brown
FIS Astec Analytics examines its top pick for short sellers for the week starting 13 March
Securities lending gives iShares ETF the edge
24 March 2017 | Chicago | Reporter: Drew Nicol
Morningstar has highlighted securities lending revenues as a key feature of high-performing EU ETFs
ISLA bags ECB’s Jessé for conference keynote
24 March 2017 | Berlin | Reporter: Drew Nicol
ISLA secured the ECB's Marc Bayle de Jessé as a keynote for its conference in Berlin in June
ESMA unable to quantify haircut market risk
23 March 2017 | Paris | Reporter: Drew Nicol
Authority forced to wait for SFTR to understand the potential risk to market stability posed by the use of haircuts in SFTs
SEC to move US to T+2
23 March 2017 | Washington DC | Reporter: Drew Nicol
Members of the SEC’s industry steering committee, including DTCC and SIFMA, were quick to praise the commission on the amendment
UK pension funds embrace alternatives
22 March 2017 | London | Reporter: Drew Nicol
UK public sector pension funds are jostling to expand their alternatives exposure as a way to diversify their portfolios ahead of the launch of the Local Government Pension Scheme pooling project in April 2018