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
MiFID II data security paramount, warns Silverfinch
28 June 2017 | London | Reporter: Theo Andrew
Data sent to regulators as part of the second Markets in Financial Instruments Directive (MiFID II) reporting requirements must be sent and managed securely, said regulatory data exchange Silverfinch
Banque de France to trial PSPP sec lending auction
28 June 2017 | Paris | Reporter: Drew Nicol
Trial auctions will be open at least one month to all eligible counterparties that signed the relevant contracts.
Collateral liquidity drought driving buy-side to CCPs, survey reveals
27 June 2017 | New York | Reporter: Drew Nicol
The report also highlighted that the “classic concerns” associated with use of CCPs still endure
Vontobel choses Clearstream for hedge funds business
27 June 2017 | Frankfurt | Reporter: Drew Nicol
Vontobel is set to become a user of Clearstream Banking’s investment funds processing infrastructure for its third-party hedge fund processing activities
GPP joins with Edgefolio for prime services
26 June 2017 | London | Reporter: Drew Nicol
GPP has partnered with Edgefolio to provide a capital introduction service to its prime brokerage clients
China’s bond market opened through Tradeweb
26 June 2017 | New York | Reporter: Drew Nicol
Northbound trading will begin in the initial phase, meaning overseas investors will be able to invest in the China inter-bank bond market
Former ITG sec lending trader banned for ADR misuse
23 June 2017 | Washington DC | Reporter: Drew Nicol
The charges follow ITG’s settlement in January when the broker-dealer agreed to pay more than $24.4 million over allegations of securities lending violations relating to the facilitation of naked short selling