Embracing Change: Clearing & Settlement - Market Practice Harmonisation - Clive Triance, Head Of Securities And Fund Services And Direct Custody And Clearing, Europe, Middle East And Africa, At Citi, Tells Heather McKenzie How The EU Clearing And Settleme.(Interview)

Banker, The, June, 2007 by MCKENZIE, HEATHER

Byline: HEATHER MCKENZIE

Q. The European Central Bank says the EU lacks an efficient, integrated securities infrastructure to support the operation of a single financial market. How can such an infrastructure be built?

A. There is an enormous drive among the public and private sectors in Europe to find more efficient ways for the financial industry to operate. The goal of legislation such as MiFID [Markets in Financial Instruments Directive] and projects including TARGET2-Securities [T2S] are to harmonise the legal framework and the market infrastructure in Europe.

Simultaneously, significant cost reductions are being achieved by financial institutions as they introduce greater efficiencies within their organisations. Greater use of standards...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.