Jonathan Watkins

Jan 27, 2025 | thetradenews.com | Jonathan Watkins |Claudia Preece

The UK’s Accelerated Settlement Taskforce (AST) is recommending that the UK moves to the T+1 settlement cycle for securities on 11 October 2027 in line with its European counterparts. Despite the UK being the first to tout the date for transition, the EU and Switzerland both confirmed the date in recent months, with the UK – as expected – now mirroring the day which the shortened settlement cycle will come into force.

Jan 9, 2025 | thetradenews.com | Jonathan Watkins |Claudia Preece

State Street has worked with the Japan Securities Clearing Corporation (JSCC) to assist the clearing house in adding USD cash to the eligible collaterals in its interest rate swap clearing service. USD cash collateral posted by clearing participants and customers will be managed on a daily basis through the sponsored repo transactions, the structure of which was jointly developed by State Street. “State Street Trust and Banking Co., Ltd.

Nov 21, 2024 | thetradenews.com | Jonathan Watkins |Wesley Bray

European regulators have ended a year of speculation around whether penalties for settlement fails would increase substantially or their calculation be altered by maintaining the current system and only recommending a moderate increase of the rates. Both the idea of an increase in the penalty rates and a change in design of the mechanism were in play – with the latter potentially including progressive rates – under changes to the Central Securities Depositories Regulation (CSDR).

Nov 11, 2024 | thetradenews.com | Jonathan Watkins |Jon Watkins

SIX has reached an agreement to acquire Aquis Exchange in a major deal set to shake up the European equities landscape. The Swiss exchange group would acquire the entire issued and to be issued ordinary share capital of Aquis at a price of 727 pence per share, valuing the entire issued and to be issued share capital of Aquis at approximately £207 million based on treasury stock methodology. The deal implies an enterprise value of approximately £194 million.

Oct 21, 2024 | thetradenews.com | Jonathan Watkins |Wesley Bray

The Investment Association (IA) has concluded that the UK, EU and Switzerland should transition to T+1 settlement on a date in Autumn 2026 after gathering views from its members. Described as “the average positioning of IA member firms’ views”, the timeline put forward is one of the more aggressive, with most task forces and associations more on board with 2027.