DTCC

Swift Sets Industry Up for Seamless Introduction of CBDCs for Cross-Border Transactions as Interlinking Solution Finds More Use Cases

Retrieved on: 
Monday, March 25, 2024
Carriers and Services, Technology, Professional Services, Payments, Electronic Commerce, Blockchain, Security, Networks, Internet, Fintech, Mobile, Wireless, Deutsche Bank, CLS Group, Automation, Savings bank, Standard Bank, Growth, United Overseas Bank, DVP, Tokenization, ANZ, Westpac, Risk, Sumitomo Mitsui Banking Corporation, Digital asset, Public policy, Intesa Sanpaolo, CBDC, Community business development corporation, Commercial, DTCC, Standard Chartered, DLT, NatWest Group, Ecosystem, HSBC, FX, CLS, DBS, Commercial bank, Cryptocurrency

Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.

Key Points: 
  • Swift’s solution has already been shown to enable cross-border transfers and connect CBDCs on different networks with each other, as well as with fiat currencies.
  • The second phase of sandbox testing went further, exploring more complex use cases, using Swift’s solution to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
  • Swift now plans to extend its solution to support a wider range of emerging digital networks in addition to CBDCs, such as platforms for tokenised deposits.
  • This will help to facilitate access and usage of CBDCs in the new complex world of digital payments.

The Canton Network Completes the Most Comprehensive Blockchain Pilot to Date for Tokenized Real World Assets

Retrieved on: 
Tuesday, March 12, 2024
Online Privacy, Technology, Finance, Fintech, Banking, Professional Services, Digital Cash Management, Digital Assets, Blockchain, Asset Management, Microsoft, Commerzbank, Visa, Entrepreneurship, Goldman Sachs, Broadridge Financial Solutions, Pirum, Risk, DRW, IEX, Wellington Management Company, EquiLend, Cboe Global Markets, DTCC, Harvest Fund Management, Standard Chartered, BNP Paribas, BNY Mellon, Privacy, State Street, Digital asset, Cryptocurrency

It also demonstrated the potential benefits of using such a network to reduce counterparty and settlement risk, optimize capital, and enable intraday margin cycles.

Key Points: 
  • It also demonstrated the potential benefits of using such a network to reduce counterparty and settlement risk, optimize capital, and enable intraday margin cycles.
  • The pilot showed the potential of the Canton Network to reduce costs, risks, and inefficiencies, while striving to meet regulatory requirements for the issuance, transfer, and settlement of tokenized traditional assets.
  • “The pilot program marks an important milestone for the Canton Network,” said Yuval Rooz, CEO and Co-Founder of Digital Asset.
  • Digital Asset provided the technology and guidance to support the pilot and is one of the technology and infrastructure providers for the Canton Network.

Dynex Capital, Inc. Announces the Appointments of Andrew Gray and Alexander Crawford to Its Board of Directors

Retrieved on: 
Tuesday, March 12, 2024
Professional Services, Finance, Mechanical, Government, Organization, Risk management, DX, Goldman Sachs, Risk, University, Trustee, Merrill (company), Research, Artificial intelligence, Best Buy, Capital, AI, DTCC, Booz Allen Hamilton, Audit committee, Morgan Stanley, REIT, MBS, Publication, Partnership, Harvard University, Partner, Alec, Compensated emancipation, Data management, Clearing Corporation

Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that its Board of Directors (the “Board”) has appointed Andrew Gray and Alexander Crawford as independent directors, effective March 6, 2024.

Key Points: 
  • Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that its Board of Directors (the “Board”) has appointed Andrew Gray and Alexander Crawford as independent directors, effective March 6, 2024.
  • The Board also announced the resignation of Board members Michael Hughes, who served on the Board since 2010, and Robert Salcetti, who served on the Board since 2013, effective March 11, 2024.
  • Following the appointment of Mr. Gray and Mr. Crawford, the Board will comprise six directors, four of whom are independent.
  • Previously, Mr. Gray spent over a decade at Merrill Lynch in global roles across business management, strategy, finance and technology.

Hyperledger Foundation Adds Citi and Brazilian Development Bank as New Members; Launches Financial Services Working Group to Support Rapid Industry Adoption of Hyperledger Besu

Retrieved on: 
Tuesday, March 19, 2024
Banco Central Hispano, Mastercard, Besu, Certification, Organization, Visa, Citigroup, EVM, Trust, SAN, Java, DTCC, JSCC, Brazilian Development Bank, Linux, ConsenSys, Ecosystem, Safety, Accenture, BNDES, Linux Foundation, Android, Cryptocurrency

Additionally, the foundation unveiled a new Hyperledger Besu Financial Services Working Group , chaired by DTCC, that will support operationalizing the open source Ethereum client for enterprise end user applications.

Key Points: 
  • Additionally, the foundation unveiled a new Hyperledger Besu Financial Services Working Group , chaired by DTCC, that will support operationalizing the open source Ethereum client for enterprise end user applications.
  • Hyperledger Besu is emerging as critical infrastructure for next generation financial services.
  • Hyperledger Besu , a Java-based client with an extractable EVM implementation that serves both public and private permissioned networks use cases, is emerging as critical infrastructure for next generation financial services.
  • "The launch of a financial services-focused working group to accelerate development of critical features underscores the value of Hyperledger Foundation's open, community-driven development.

S&P Global Market Intelligence to Collaborate with DTCC on T+1 Offering

Retrieved on: 
Wednesday, March 13, 2024
ALERT, S&P Global, Organization, Database, Improper integral, Communication, KYC, DTCC, T+1, Christianity in Singapore, API, SPGI, SSI, Regulation, Security (finance)

NEW YORK, March 13, 2024 /PRNewswire/ -- S&P Global Market Intelligence, a division of S&P Global (NYSE: SPGI) today announced plans to collaborate with DTCC, the premier post-trade market infrastructure for the global financial services industry, to deliver a joint solution to support clients impacted by upcoming U.S. T+1 settlement requirements. The organizations plan to link S&P Global Market Intelligence's Onboarding Accelerator platform with DTCC's ALERT to increase transparency, efficiency and straight-through processing in the institutional trading industry.

Key Points: 
  • NEW YORK, March 13, 2024 /PRNewswire/ -- S&P Global Market Intelligence, a division of S&P Global (NYSE: SPGI) today announced plans to collaborate with DTCC, the premier post-trade market infrastructure for the global financial services industry, to deliver a joint solution to support clients impacted by upcoming U.S. T+1 settlement requirements.
  • The organizations plan to link S&P Global Market Intelligence's Onboarding Accelerator platform with DTCC's ALERT to increase transparency, efficiency and straight-through processing in the institutional trading industry.
  • By linking the services, Onboarding Accelerator users will be able to query the status of critical standing settlement instructions (SSI) reference data for a particular account and market directly within the S&P Global Market Intelligence platform.
  • It will streamline a manual, antiquated process, maximizing efficiency and minimizing trade settlement failures," said Brittany Garland, Head of Regulatory & Compliance for Enterprise Solutions, S&P Global Market Intelligence.

CME Group and DTCC Launch Enhanced Treasury Cross-Margining Arrangement, Enabling Capital Efficiencies for Clearing Members

Retrieved on: 
Tuesday, January 23, 2024
FICC, United States Treasury security, Partnership, GSD, CME Group, DRW, DTCC, Security (finance)

CHICAGO and NEW YORK and LONDON and HONG KONG and SINGAPORE and SYDNEY, Jan. 23, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, and The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced their enhanced cross-margining arrangement has gone live, enabling capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures.

Key Points: 
  • CHICAGO and NEW YORK and LONDON and HONG KONG and SINGAPORE and SYDNEY, Jan. 23, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, and The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced their enhanced cross-margining arrangement has gone live, enabling capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures.
  • With the new arrangement implemented, eligible clearing members of CME Group and the Government Securities Division (GSD) of DTCC's Fixed Income Clearing Corporation (FICC) can now cross-margin an expanded suite of products, including CME Group SOFR futures, Ultra 10-Year U.S. Treasury Note futures and Ultra U.S. Treasury Bond futures, with FICC-cleared U.S. Treasury notes and bonds.
  • Repo transactions that have Treasury collateral with more than one year remaining to maturity will also be eligible for the enhanced cross-margining arrangement.
  • "We are continually seeking to make trading more efficient and cost effective for our clearing members," said Suzanne Sprague, CME Group Global Head of Clearing and Post-Trade Services.

Ebix Annuity Exchange Closes 2023 with Record Annual Volumes of $118 Billion

Retrieved on: 
Thursday, January 4, 2024
OneSpan, Health, AGM, TPP, Management control system, Total, Envestnet, IGO, Insurance, Rheged, CRM, DocuSign, DTCC, Growth, OTC, Policy, Environment, Cryptocurrency

AN4 is the Annuity industry’s largest exchange representing over 60% of all electronic annuity transactions.

Key Points: 
  • AN4 is the Annuity industry’s largest exchange representing over 60% of all electronic annuity transactions.
  • The exchange connects the industry’s distributors and annuity manufacturers to seamlessly enable end-to-end annuity sales.
  • Ebix reported record numbers in many areas in the year 2023:
    December 2023 Premium and Transactional Volumes were up 37% and 33% respectively compared to December 2022.
  • 2023 is a momentous year for Ebix in the area of Annuities, with our Annuity Exchange AN4 reporting approximately $118 billion in premiums processed.

Cenntro Electric Group Postpones Reverse Stock Split

Retrieved on: 
Thursday, November 30, 2023
Vehicle Technology, Automotive, General Automotive, Automotive Manufacturing, EV, Electric Vehicles, Manufacturing, Transfer, CUSIP, DTCC, Clearing Corporation, Security (finance), Auction

Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that the planned reverse split of its outstanding common stock that was to be effective on December 1, 2023 has been postponed.

Key Points: 
  • Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced that the planned reverse split of its outstanding common stock that was to be effective on December 1, 2023 has been postponed.
  • The reverse stock split uniformly affects all issued and outstanding shares of the Company’s common stock and will not alter any stockholder’s percentage of ownership interest in the Company, except to the extent that the reverse stock split results in fractional shares.
  • The par value of the Company’s common stock will remain unchanged after the reverse stock split.
  • The Company’s transfer agent, Continental Stock Transfer & Trust Company, is acting as the exchange agent for the reverse stock split.

LARRY E. THOMPSON ELECTED CHAIR OF FEDERAL HOME LOAN BANK OF NEW YORK

Retrieved on: 
Thursday, November 16, 2023
DTC, Davis Polk, Federal Home Loan Banks, NYSE Euronext, Bank, Risk management, City, Projection, Knight Capital Group, Risk, Nature, Vulnerability and Risk Committee, Congressional Award, Uncertainty, Council, Public Interest Declassification Board, Studio Museum in Harlem, The Legal Aid Society, Housing, DTCC, Depository Trust Company, Government, Security (finance)

NEW YORK, Nov. 16, 2023 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that Larry E. Thompson has been elected by its Board of Directors ("Board") to serve as Board chair for a two-year term that will commence on January 1, 2024.

Key Points: 
  • NEW YORK, Nov. 16, 2023 /PRNewswire/ -- The Federal Home Loan Bank of New York ("FHLBNY") announced today that Larry E. Thompson has been elected by its Board of Directors ("Board") to serve as Board chair for a two-year term that will commence on January 1, 2024.
  • He is the chair-elect of the Council of Federal Home Loan Banks, which serves as the public voice of the Federal Home Loan Bank System.
  • Mr. Thompson was chair of the Board of DTCC Deriv/SERV LLC and former chair of the DTCC Operating Committee.
  • The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank.

Orion Innovation Appoints Donna Milrod to its Board of Directors

Retrieved on: 
Monday, November 13, 2023
Senior, Audit, Cosmopolitan, Compensation, Partner, State Street Corporation, One Equity Partners, Cosmopolitan of Las Vegas, McKinsey & Company, DTCC, Clearing Corporation, Deutsche Bank, State Street, FICC, Valmont Industries, Management, Orion

EDISON, N.J., Nov. 13, 2023 /PRNewswire/ -- Orion Innovation ("Orion"), a leading digital transformation and product development services firm, today announced the appointment of Donna Milrod as an Independent Director of its Board of Directors.

Key Points: 
  • EDISON, N.J., Nov. 13, 2023 /PRNewswire/ -- Orion Innovation ("Orion"), a leading digital transformation and product development services firm, today announced the appointment of Donna Milrod as an Independent Director of its Board of Directors.
  • "I'm pleased to welcome Donna to Orion's Board of Directors," said Chip Schorr, Chairman of Orion's Board of Directors and Senior Managing Director at One Equity Partners.
  • "I am excited to join the Board of Orion Innovation as it is keenly focused on helping companies modernize their technology to execute their strategic business plans," said Milrod.
  • With this appointment, Orion now has seven members on its Board of Directors.