European Repo Council chair threatens to call in EC over settlement times
Systemic risk associated with inadequate access to collateral has been cited as a result of the failure of ICSDs to speed up Bridge settlement
The International Capital Market Association (Icma) and European Repo Council (ERC) have written to Clearstream and Euroclear complaining of their “significant disappointment” regarding progress to enhance Bridge, an electronic communications platform through which transactions between customers of the two market infrastructures are settled.
Improvements to Bridge are intended as the precursor to establishing tri-party settlement interoperability (TSI) between the two international central
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