Four international, central securities depositories (CSDs) that are part of the “Liquidity Alliance” (LA) are joining forces with Deutsche Börse to develop LA Ledger, a blockchain/distributed ledger technology (DLT) initiative to ease cross-border mobilization of security collateral. The LA, which includes the Canadian Depository for Securities Ltd. (CDS), Luxembourg-based Clearstream, South Africa’s Strate and the… Read More >>
Deutsche Bundesbank & Deutsche Börse Launch Blockchain Initiative
Germany’s central bank, Deutsche Bundesbank and its national exchange Deutsche Börse, have joined forces to develop a functional prototype for a blockchain/distributed ledger technology (DLT)-based settlement of securities. Stefan Teis, senior vice president for group product and business development at Deutsche Börse, stresses that the “prototype is based on a conceptual study and not intended… Read More >>
LSE, Deutsche Börse Juggle Options to Save Merger
It is unclear whether the London Stock Exchange’s plans to sell its French clearing unit — LCH SA — will appease the E.U. regulators who have launched an extensive probe into its €24 billion ($26.9 million) merger with Deutsche Börse. However, there will be plenty of interest especially from Euronext, which is a well-known opponent… Read More >>
Exchanges, Clearinghouses, CSDs Embrace DLT with Caution
The world’s largest securities exchanges, clearinghouses and central securities depositories (CSDs) are exploring the possibilities of blockchain/distributed ledger technology (DLT). But concerns remain as to whether the technology will deliver the promised goods of a more streamlined and efficient world, according to a new survey conducted by the World Federation of Exchanges (WFE) and the… Read More >>
Brexit Storm Rains On LSE, Deutsche Börse Merger
London Stock Exchange (LSE) shareholders may have given their approval to the planned £20 billion ($30 billion) merger with Germany’s Deutsche Börse but there is no guarantee that their relationship will weather the post-Brexit storm and this could pave the way for another suitor. In a joint statement after the Brexit vote, LSE and Deutsche… Read More >>
FIX to Get Extensions for MiFID II Compliance
The FIX protocol is being modified to provide mappings to the ISO 20022 data standard required for trade reporting to European authorities, and a forthcoming FIX version will support Market Model Typology (MMT) 3.0, intended to facilitate MiFID II compliance, according to the FIX Trading Community standards body. MiFID II transaction reporting extends the reporting… Read More >>
LSE-Deutsche Börse Merger May Require Waves of Layoffs
In just over a month’s time, the London Stock Exchange (LSE) and Deutsche Börse are set to create a £21 billion ($30 billion) European exchange powerhouse. It is expected to lead to 1,250 job losses but some believe that this might just be the tip of the iceberg. Last week, a prospectus was issued to… Read More >>
ESMA Pries Open Derivatives Clearing
Although not all clearinghouses will be happy, the European Securities Market Authority Association (ESMA) decision to allow more choice in trading and clearing was welcomed by the London Stock Exchange Group (LSEG) and Nasdaq Stock Market, which have long championed greater competition in derivatives clearing. The so-called open access rule, set out under Markets in… Read More >>
CME May Spur Bidding War for the LSE
There is a sense of déjà vu in the air with talk of a $28 billion merger between Deutsche Börse and the London Stock Exchange Group (LSEG). The two have been circling around each other for years but as in the past, rival exchanges may try and break the bond. This time around the Intercontinental… Read More >>
Deutsche Börse to Sell ISE to Nasdaq for $1.1B
Just as the London Stock Exchange and Deutsche Börse Group are in a tango over a potential merger, Deutsche Börse officials took a side step and agreed to sell International Securities Exchange Holdings, Inc. (ISE) to Nasdaq for a total cash consideration of $1.1 billion, officials say. Nasdaq and Deutsche Börse officials confirm that they… Read More >>
