Vontobel is set to become a user of Clearstream Banking’s investment funds processing infrastructure for its third-party hedge fund processing activities
The charges follow ITG’s settlement in January when the broker-dealer agreed to pay more than $24.4 million over allegations of securities lending violations relating to the facilitation of naked short selling
The association also point to increased automation of highly manual and labour-intensive processes of the market as a way to mitigate rising costs and create efficiencies
Industry representatives drafted the code in partnership with the Bank of England (BoE) to replace the previous guidance, which has been judged to be outdated
The European Central Bank (ECB) left interest rates unchanged earlier in June and expects them “to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases”
Potential reform of SEC Rule 15c3-3 is likely to change the US market, but the likes of the UK will see a realignment in trading rather than an out-and-out replacement
The last phase will see central securities depositories (CSDs) in Estonia, Latvia and Lithuania brought onto the platform by the final 18 September deadline
