News and Notes

ISLA Americas Announces the Appointment of Fran Garritt as Executive Director, Head of Business, ISLA Americas

DataLend: May 2024 Securities Lending Revenue Down 16% YoY to $895 Million

Transcend signs up asset manager for collateral services

CFTC advances Basel III Endgame and VM processes recommendations

Milano Finanza: Italy’s Consob fines Dutch firms €4.7mn for short selling violations

BIS opens mBridge platform for central and commercial banks to transact

FICC activity expected to increase $4tr on UST clearing rule

Canada’s OSFI proposes liquidity rule changes for banks

Tradeweb bridges repo and IRS to boost execution workflows

EACH flags CSDR updates: SDR penalties to be collected by CSDs, buy-ins back under SSR

S&P Global: Gamestop shares surge but borrowing remains low

ISLA publishes update for legislators, “How to Boost Europe’s Capital Markets by Empowering Securities Lending & Borrowing”

GLMX gets Singapore’s MAS approval to boost global expansion

Euronext completes 75% acquisition of Global Rate Set Systems

CACEIS completes the integration of RBC IS European entities

NY Fed updates RRP counterparty list: Credit Suisse changed to UBS

ECB releases T2S report: settlement volatility down as migration continues

T+1 go-live week: media and industry commentary

DTCC analysis shows clearing fund drops $4bn after T+1 starts

People moves: CFTC, Deutsche Börse, IOSCO, ISLA, UBS

J.P. Morgan, Quantinuum test quantum speed up with QAO algo

SIX’s Macpherson on UK FCA’s SDR anti-greenwashing rule

Bloomberg: ECB to impose first-ever fines on banks for climate failures

US DoJ dismantles massive financial fraud botnet and charges operators

Acadia upgrades ORE with market risk and IM analytics

ESMA warns firms using AI in retail to comply with MiFID requirements

DTCC reports 93% affirmation rate as T+1 goes live

DTCC, Clearstream and Euroclear unveil blueprint for tokenization

Stifel and Marex announce prime brokerage referral partnership

WFE survey shows 98% of exchanges reporting investor demand for ESG

Bloomberg: Korea’s short-sale monitoring system expected in Q1 2025

FIA Tech to integrate Nasdaq’s clearing platform into TDN

Trade associations ask SEC to delay 10c-1 implementation (FINRA’s SLATE)

CME’s AIR TRFs reach record OI at 503k contracts in May, ADV up 78% yoy

Reed Smith: ISDA’s “DLT Cash” vs. “DLT Securities” labels raises “odd issues” for collateral valuation

EC’s McGuinness flags stress testing to monitor NBFI leverage

Broadridge on industry attitudes to AI regulation as EU Act comes into force

People moves: Broadridge, ICMA, ISLA, Marex, Morgan Stanley, MUFG, US SEC, Wells Fargo

BusinessKorea: Korea’s FSC in New York and Hong Kong to discuss short selling resumption

Quartz: meme stock reboot is short-lived

EACH’s “3Rs principles” of CCP cybersecurity

BIS’ CPMI identifies FMI risk, tokenization and clearing among policy priorities

Meritsoft integrates Taskize into TTEM for settlement efficiency

BoE’s Bailey signals balance sheet policy shift from asset purchases to repo

Nasdaq: 15c3-3 to shake up reserve calculations and deposit processes in shift to daily reporting