LSE Announces Second European CSD
The new utility, based in Luxembourg, will build off Monte Titoli's infrastructure. The LSE says that it has already reached an agreement as part of the announcement with JPMorgan Chase, the US multinational taking custody and asset servicing support related to collateral management functions from the CSD.
"The Group is well placed to provide a full range of post trade services to meet the evolving needs of our customers arising from on-going financial regulatory change and the continued focus on operational efficiency," says Raffaele Jerusalmi, CEO at Borsa Italiana, owned by the LSE, and director of capital markets at the LSE.
The LSE says that the CSD will open in 2014, subject to regulatory approvals.
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