In trying to harmonize the operations of European securities depositories, regulators may well be creating unintended operational and financial burdens for the settlement houses and their members in dealing with trades which fail to settle on time. “The shorter timetable for settlement and the fines for late settlement will be far more difficult to implement […]
Russia: Is the NSD Coming in from the Cold?
With Russia’s regulatory and settlement infrastructure on the mend, foreign fund managers appear to be slowly forgiving the market’s past indiscretions and giving Moscow its long-awaited international stature. Granted, Russia has a long way to go before it can match the likes of its more established peers across the globe. Settlement delays, stolen securities, uncertainty […]