BNY Mellon’s board of directors has elected Sandie O’Connor as an independent director. With the addition of O’Connor, the board will have 13 directors, 12 of whom are independent. O’Connor retired as the chief regulatory affairs officer for JPMorgan Chase, where she set the firm’s regulatory strategy and led engagement with G-20 policymakers. Prior to…
Category: Capital Markets
State Street deploys DLT for FX margin calculation
State Street, alongside Vanguard and Symbiont, have jointly completed the margin calculation process for a live trade of a 30-day foreign exchange forward contract through the use of Assembly, Symbiont’s distributed ledger technology. The firms have been actively exploring the application of blockchain technology to undertake margin processing for FX forwards and swaps, with the…
Mark Snowdon joins StanChart
Mark Snowdon has joined Standard Chartered as head of insurance relationship management for Asia. Based in Hong Kong, he is responsible for managing and developing the bank’s financing and securities servicing insurance client franchise across Asia, incorporating custody, fund services, agency securities lending and prime services activities. He joins from Northern Trust.
State Street partners with Cassini to enhance optimisation
State Street has added pre-and post-trade optimisation and margin analytics capabilities to its Collateral+ service. In partnership with Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives market participants, Collateral+ now offers an integrated, modular approach to optimisation, which addresses collateral efficiency from multiple angles. It Through Cassini’s technology, Collateral+…
BNP Paribas signs PB client referral agreement with Credit Suisse
BNP Paribas has signed a referral agreement with Credit Suisse to support its prime services and derivatives clearing clients in their selection of alternative providers after Credit Suisse announced its exit from the prime services business. This follows BNPP’s 2019 agreement to acquire Deutsche Bank’s electronic equities and prime brokerage business.
BP2S appoints new head of markets & financing services
BNP Paribas Securities Services has appointed Frédéric Pascal as head of markets and financing services (MFS). He will be responsible for MFS products and services, including securities lending, FX, triparty collateral management, and financing. He joined the bank in 1999 and is based in Paris. He replaces Eric Deudon, who is leaving the bank.
State Street combines FX platforms
State Street has combined its FX execution and post-trade platforms – FXConnect, Currenex and TradeNeXus – into a single platform, GlobalLink FX.
Fidelity mandates SGSS for securities lending
Société Générale Securities Services in France has been mandated by Fidelity International to provide securities lending services. The asset management company, FIL Gestion – Fidelity International, has been a client since 2011. Fidelity International is an independent company providing investment solutions and services, as well as retirement-related expertise, to more than 2.5 million clients worldwide.…
State Street records first P2P repo trade
State Street has closed the first transaction within its peer-to-peer repo program following its launch earlier this year. The trade was executed between a large asset owner and a non-traditional investment manager. The program seeks to facilitate overnight and term repo trading between buy-side counterparties, including traditional and non-traditional asset managers, asset owners, insurers, corporates,…
HSBC hires Matt Bowen to head Americas securities financing
HSBC has hired Matt Bowen as head of securities financing, Americas. He is based in New York and reports to Loic Lebrun, global head of prime finance, and Jean-Michel Meyer, global head of repo. He joins from BNP Paribas where he was head of US prime finance platforms. HSBC’s securities financing business includes prime finance,…