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Exclusive: 11th hour deal breakdown cut off KDPW clients from UK EMIR services
25 February 2021 Poland
Reporter: Drew Nicol

The Polish trade repository quietly cut UK EMIR reporting from its available services after a late-stage deal it had negotiated with an on-shore TR to divert business through as of January fell through weeks before the Brexit deadline

SEC commissioner hints at post-GameStop regulatory landscape
24 February 2021 US
Reporter: Alex Pugh

An SEC commissioner’s speech has given some indication of where the agency stands on further regulations post-GameStop

DTCC proposes move to shorten US settlement cycle to T+1 by 2023
24 February 2021 US
Reporter: Becky Bellamy

In order to move to T+1, DTCC says industry participants must align and agree to shorten the settlement cycle by implementing the necessary operational and business changes, and regulators must be engaged

Citadel and Robinhood call for T+1 settlement cycle
23 February 2021 US
Reporter: Maddie Saghir

The CEOs of Citadel and Robinhood are calling for the US settlement system to be overhauled and shortened to protect against a repeat of the January GameStop volatility

ISLA unveils digitisation vision and next steps in white paper
23 February 2021 UK
Reporter: Drew Nicol

The Legal Clause Library & Legal Data Standards paper sets out ISLA’s vision for a direction of travel for the industry in its digitalisation of the GMSLA, other documentation, and the industry at large

WFE: Market activity has ‘swiftly’ recovered from COVID-19
23 February 2021 UK
Reporter: Maddie Saghir

The WFE says the markets remained open and functioning despite the exceptional circumstances in 2020, but, after the peak in uncertainty observed in March, markets quickly recovered

Cowen sees YoY securities finance earnings boost
22 February 2021 US
Reporter: Alex Pugh

The US multinational’s broker-dealer saw institutional services, including securities finance, revenue increase by almost a third YoY

US House considers calls for enhanced short selling disclosures after GameStop saga
19 February 2021 US
Reporter: Alex Pugh

A half-forgotten section of the US Dodd-Frank Act is being eyed as a vehicle to enact greater oversight of short selling activities and stamp-out perceived market manipulation

Exclusive: Morgan Stanley’s O’Flynn hands the BRM reins to Patel
19 February 2021 UK
Reporter: Drew Nicol

Ciaran O’Flynn is set to hand over control of Morgan Stanley’s BRM business to Tejash Patel and is expected to assume a new leadership role after five years reforming the division’s sales, trading and treasury functions

ICMA publishes first update to SFTR guide post-Brexit
19 February 2021 UK
Reporter: Drew Nicol

The ERCC’s SFTR taskforce has updated its reporting guide a sixth time to reflect new guidance on Brexit, settlement fails and LEIs, among other changes

Canadian pension fund CPP Investments joins GPFA
19 February 2021 Canada
Reporter: Drew Nicol

CPP Investments brings $475.7 billion in assets under management (as of 31 December 2020) to the peer-to-peer lending pool the association is forming, which already accounted for more than $6 trillion from 11 members as of January

Charles Schwab lending earnings soar after TD Ameritrade deal
18 February 2021 US
Reporter: Drew Nicol

Following its acquisition of TD Ameritrade, Charles Schwab recorded more securities lending revenue in one quarter than it did in all of 2019