State Street has expanded its peer-to-peer securities finance product, Direct Access Lending, which enables direct, principal loans between its lending and borrowing clients. It now enables borrowers to post U.S. convertible bonds as collateral to facilitate the participation of new clients and strategies. The same operational support provided for equity-for-equity loans in Direct Access Lending…
Category: Capital Markets
BNY Mellon expands Custody FX service
BNY Mellon is expanding its Custody FX offering, adding new trading capabilities and evolving from a primarily custody-focused service model into a transparent open architecture that can be leveraged by a variety of client types for their rules-based, end-to-end transaction needs. Effective immediately, clients in the FX trading programs can customise how they trade currencies…
Northern Trust launches UMR solution
Northern Trust has launched an automated solution for initial margin calculation to help asset manager and asset owner clients comply with global regulations governing trading of OTC derivatives. The solution, developed in advance of the deadline for implementation of Uncleared Margin Rules (UMR), is part of Northern Trust’s integration of Acadia’s margin management solutions.
State Street appoints new head of global markets for Europe
State Street has appointed Simona Stoytchkova as its new head of Global Markets, Europe. Global Markets is State Street’s capital markets business, providing research, trading, and securities lending services for foreign exchange, securities and derivatives. Based in Frankfurt, Stoytchkova joins from IG Europe, where she was country head for Germany & Netherlands.
State Street expands relationship with ANIMA
State Street has entered into an agreement with ANIMA SGR, the independent Italian asset manager with EUR198bn (USD232bn) AuM, to provide front office IT platform solutions and back-office administration services for certain ANIMA institutional and retail managed accounts (s.c. gestioni patrimoniali). Services provided by State Street in Italy cover approximately EUR24bn (USD28bn) AuM for retail…
State Street hires Sam Edwards to head AsPac collateral management
State Street has hired Sam Edwards as head of collateral management for Asia Pacific. Based in Hong Kong, Edwards will report globally to Staffan Ahlner, global head of collateral management, and regionally to Michele Hardeman, head of global markets, Asia Pacific. Edwards joins State Street from Credit Suisse, where he was most recently head of…
State Street hires new head of TM for Asia Pacific
State Street has appointed Elliot Graham as a managing director in the bank’s portfolio solutions team, heading the transition management business in Asia Pacific. Based in Sydney, Graham will report to James Woodward, head of portfolio solutions for State Street Global Markets in Asia Pacific. He was most recently with Macquarie Securities and previously with…
UBS joins Broadridge’s repo platform
UBS has joined the distributed ledger repo (DLR) platform launched by Broadridge Financial Solutions earlier this year. DLR provides a single platform where market participants can agree, execute and settle repo transactions. Under DLR, collateral can be detached from the trade agreement, while the cash remains off-chain. DLR allows for the immobilisation of the underlying…
Andy Clayton retires from Northern Trust
Andy Clayton has retired from Northern Trust after a 35-year career with the firm. Clayton held a number of senior positions with the securities finance and capital markets business lines, most recently as head of Northern Trust’s capital markets division in EMEA. He has also run the global securities lending business. His retirement is the…
EquiLend acquires majority stake in Stonewain
EquiLend, the fintech company for the securities lending, collateral and swaps industries, has acquired a majority stake in Stonewain Systems, an independent provider of software and solutions for the securities finance industry. EquiLend’s stake in Stonewain comes after a two-and-a-half year-partnership for EquiLend Spire.