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European Depositary Bank receives full depository FCA approval
17 September 2020 London
Reporter: Maddie Saghir

The London branch of the European Depositary Bank has received approval from the Financial Conduct Authority to provide full depositary activities in the UK

HSBC to provide custody and fund admin for first ETF under Singapore VCC scheme
17 September 2020 Singapore
Reporter: Maddie Saghir

CSOP Asset Management has selected HSBC to provide custody and fund administration services for its first ETF under the authorised VCC scheme in Singapore

SGSS extends securities custody and issuer services to Cameroon
16 September 2020 Douala
Reporter: Becky Bellamy

Societe Generale Securities Services has extended its securities custody and issuer services offer in Africa with the support of Societe Generale Cameroon

LCH clears first Israeli interest rate swaps
16 September 2020 London
Reporter: Natalie Turner

LCH is the first to clear Israeli interest rate swaps, with backing from J.P. Morgan, Goldman Sachs, Citi and HSBC

KGAL outsources fund administration to CACEIS
16 September 2020 Paris
Reporter: Maddie Saghir

KGAL Group, an independent investment and asset manager, has outsourced its fund administration to CACEIS, the asset servicing banking group of Crédit Agricole and Santander

Northern Trust unveils new insurance accounting and analytics app
16 September 2020 Chicago
Reporter: Maddie Saghir

Northern Trust has launched a new cloud-based insurance accounting and analytics application

UK and EU want to avoid market fragmentation as EU set to delay euro clearing decision
16 September 2020 London
Reporter: Maddie Saghir

It was explained that forcing European banks or participants to clear their Euro trades in continental Europe “could split up the pools of risk and make it riskier and less efficient to complete clearing”

Phoenix American and AIX team up to deliver STP for alternative investments
16 September 2020 California
Reporter: Becky Bellamy

Phoenix American and the Alternative Investment Exchange have formed an integration partnership that will enable investors to purchase alternative investment products digitally

J.P. Morgan and BlackRock automate account opening for securities services
16 September 2020 New York
Reporter: Maddie Saghir

J.P. Morgan and BlackRock have adopted Saphyre’s platform to digitise the account opening workflow, eliminate manual processes, improve scalability and enable buy-side clients to be ready to trade more quickly

Akshay Thakurdesai to head up BNP Paribas Securities Services India
16 September 2020 India
Reporter: Becky Bellamy

Thakurdesai will be responsible for leading the bank’s securities services team in India as well as developing new business opportunities for its India franchise

Smith & Williamson selects Broadridge’s SRD II solution
15 September 2020 New York
Reporter: Maddie Saghir

Broadridge is set to provide Smith & Williamson Group, a financial and professional services firm in the UK and Ireland, with its SRD II solution for proxy voting

BNP Paribas and Digital Asset to partner on DLT trade and settlement apps
15 September 2020 Hong Kong
Reporter: Maddie Saghir

BNP Paribas Securities Services has partnered with Digital Asset to design a number of real-time trade and settlement apps using DAML smart contracts