12 July 2016
Brussels
Reporter: Drew Nicol
State Street joins margin settlement pilot programme
Euroclear and the Depository Trust & Clearing Corporation (DTCC) have secured State Street as a participant in a pilot programme to test their joint venture’s margin settlement messaging service.

The joint project, known as GlobalCollateral, will begin testing its new add-on after receiving authorisation from the Financial Conduct Authority to operate its margin transit utility (MTU) technology on 31 March.

The latest addition to the GlobalCollateral, a collateral processing platform first launched in 2014, is aimed to provide straight-through-processing for the settlement of margin obligations.

According to a Euroclear statement on the pilot programme, State Street, as a participant, hopes to further streamline its margin call processes, increase transparency through automated collateral settlement tracking, enhance client service, and improve custodian communications.

State Street will initially pilot the MTU functionality with select client portfolios to evaluate how the technology could be leveraged more broadly.

“We look forward to participating in this programme,” said Dick Taggart, executive vice president and head of State Street's investment manager services business.

“Industry collaboration and a community-based model for margin call management can decrease risk, drive standardisation and increase efficiency for our clients. As we enhance our collateral management services, we are focused on streamlining and scaling the margin call process, improving settlement certainty and increasing transparency.”

More swaps 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
French elections revive European markets
03 May 2017 | Frankfurt | Reporter: Drew Nicol
The first round of the French election prompted rallies in Europe’s beleaguered equities markets, while fixed income also saw sharp corrections, according to Eurex
Eurex secures KfW as IRS clearing client
05 April 2017 | Frankfurt | Reporter: Drew Nicol
German government-owned investment bank KfW has looked to Eurex Clearing for IRS clearing services
Traiana enhances swaps offering
27 February 2017 | London | Reporter: Drew Nicol
Traiana has launched a new suite of services to allow swaps providers to electronically manage payments and confirmations in equity swaps
BrokerTec eyes up e-MID purchase
27 January 2017 | London | Reporter: Drew Nicol
BrokerTec is on track to acquire a controlling majority stake in e-MID SIM, the first Italian electronic central limit order book platform for inter-bank deposits and overnight indexed swaps...
CME boasts record-breaking peso IRS activity
19 January 2017 | Chicago | Reporter: Drew Nicol
Derivatives marketplace CME Group achieved a record-breaking January trading day by clearing more than MXN 1 trillion (USD 45.53 billion) interest rate swaps in a single session...
Deutsche Asset Management expands lending activity
16 January 2017 | Luxembourg | Reporter: Drew Nicol
Deutsche Asset Management is expanding its securities lending activity through its sub-funds as part of a significant overhaul of its investment strategy...
Deutsche Bank and Credit Suisse pay for RMBS
23 December 2016 | New York | Reporter: Mark Dugdale
The US Department of Justice has agreed settlements with Deutsche Bank and Credit Suisse over the sale of residential mortgage-backed securities worth more than $10 billion, and brought civil charges against Barclays...