All articles by Heather McKenzie
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FeaturesUnclear on clearing
As new pan-European trading platforms get ready for launch, Heather McKenzie reports on the lack of coherence in European clearing
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Features
Clearing the way for cross-border settlement
Ahead of a final decision, expected in June, regarding approval of the Target2 Securities (T2S) initiative of the European Central Bank (ECB), European clearing and settlement organisations appear to accept it as a reality. T2S is a securities settlement system based on the Target2 real time gross settlement system for ...
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Special ReportChanges in security services
Outsourcing has become an important issue for master KAGs but, as Heather McKenzie finds, it works both ways
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Features
Staff thin on the ground
The scarcity of experienced back office staff is a major driver of the uptake outsourcing services by both buy side and sell side institutions. With investment managers and pension funds becoming ever more sophisticated in their investment strategies, back offices are struggling to cope with the added processing burdens being ...
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FeaturesOn the acquisition trail
Banks dominate the French securities services scene and they are taking their home market expertise abroad, reports Heather McKenzie
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Features
Preparing for settlement migration
This year could be a watershed for settlement in Europe. The European Central Bank (ECB) will decide in July whether to procede with the development of its euro-zone settlement system, Target2 Securities (T2S). Meanwhile, international central securities depository (ICSD) Euroclear plans to finish the roll-out of Euronext zone securities (Eses). ...
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Features
Key steps in tandem
The coming months will see crucial developments in the areas of bearer securities, Belgium’s new pensions vehicle and the Target2 Securities project, says Heather McKenzie
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Features
An evolving market of smooth transitions
Heather McKenzie talks to providers of transition management services and finds a variety of approaches being adopted
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Features
Continuing an upward trend
Dublin’s securities services infrastructure is showing continued growth in niche areas such as alternatives, as Heather McKenzie finds
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Features
Taking to custody
Heather McKenzie finds that the wide variety of CEE markets, from Russia to Albania, are waking up to the need for financial infrastructure
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Features
Inefficiencies at the heart of Europe
When it comes to post-trading there seems little harmony across Europe, with different models in different countries. Heather McKenzie looks at ways in which these processes might be improved
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Features
Custodians warm to Spain
Good fundamentals are attracting securities services providers but there are hurdles for non-resident investors, writes Heather McKenzie
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Features
Putting operational efficiency first
The main message from this year’s Sibos conference is that consolidation among market infrastructure and market participants will lead to a more efficient securities industry, particularly in Europe. Heather McKenzie reports
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Features
Running to stand still
Heather McKenzie finds that JPMorgan’s white label deal with Swedbank could prove to be a model that can be repeated elsewhere
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Special Report
Swiss seek higher financial profile
The nation of the world’s leading bankers wants to improve its image as a financial centre, Heather McKenzie discovers
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Features
Choice set to narrow as custodians merge
Has the recent spate of mergers in the global custody industry changed anything for custody clients? Ross Whitehill, chief operating officer at Thomas Murray, a London-based custody and capital market infrastructure ratings company, says yes. Clients have less choice each time there is M&A activity, he says, although it is ...
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Features
FTK and LDI make strong case for outsourcing
The growth of liability driven investment strategies in response to the demands of the new financial framework has increased the attractions of outsourcing for Dutch pension funds, Heather McKenzie reports
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Features
Value added is core
Value-added is a much-used term in the securities services business, but it is a definition that quickly becomes redundant as clients come to expect more from their providers. It doesn’t take long for a value-added service to become a core part of a custodian’s standard offerings. Now, custodians provide a ...
