Topic
Clearance and Settlement
18 published works
Banking, Finance and Securities
BVI publishes position on Euro clearing by systemically important third country CCPs
The German Investment Funds Association (BVI Bundesverband Investment und Asset Management e.V. – BVI) welcomes the European Commission’s proposal to enhance the supervisory arrangements for EU and third-country Central Counterparties…
Corporate & Financial Weekly Digest
“Trade Match” and “Trade Acceptance” Clearing Submissions on FINRA’s Alternative Display Facility
By James Van De Graaff, Dina Wegh
On October 7, the Financial Industry Regulatory Authority issued a Trade Reporting Notice regarding its Alternative Display Facility (ADF). In particular, member firms that use the ADF to report over-the-counter…
Securities Law Prof Blog
Caytas on Clearing and Settlement
Joanna Diane Caytas has posted Developing Blockchain Real-Time Clearing and Settlement in the EU, U.S., and Globally on SSRN with the following abstract:Clearing and settlement of international securities transactions for indirectly…
Corporate & Financial Weekly Digest
European Commission Adopts MiFIR Delegated Regulations
By Carolyn H. Jackson, Nathaniel Lalone, Neil Robson
On June 24, the European Commission adopted two delegated acts to supplement the Markets in Financial Instruments Regulation (MiFIR). The delegated acts take the form of directly applicable regulations (together,…
Corporate & Financial Weekly Digest
European Commission Publishes Delegated Regulation on Mandatory Clearing for OTC Interest Rate Derivatives
On August 6, the European Commission (EC) adopted new rules in the form of a delegated regulation (Delegated Regulation) requiring the mandatory clearing of certain over-the-counter (OTC) interest rate derivatives contracts…
Corporate & Financial Weekly Digest
SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements
By Ross Pazzol, Janet M. Angstadt
On October 27, the Securities and Exchange Commission’s Division of Trading and Markets (Division) issued no-action relief to Goldman Sachs Execution & Clearing (GSEC) relating to the close-out requirements of…
Delaware Bankruptcy Update
Penson Worldwide Files for Bankruptcy in Delaware
Introduction On January 11, 2013, Penson Worldwide ("Penson"), a clearing and settlement provider for the investment trading industry, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court…
In Solvency
Penson Worldwide Files for Bankruptcy in Delaware
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction On January 11, 2013, Penson Worldwide ("Penson"), a clearing and settlement provider for the investment trading industry, filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court…