BoE’s Hauser foresees end to fragmented post-trade structures
Central bank is supporting a movement away from “complex and balkanised” securities services
The Bank of England (BoE) is encouraging a movement away from fragmented securities markets with its "extraordinarily complex and balkanised" array of post-trade services, Andrew Hauser said today.
The BoE's executive director for banking, payments and financial resilience told a gathering marking 20 years of the UK's Crest securities settlement system there was a strong case for reform.
"Multiple tiers of custodians and sub-custodians, issuing agents, correspondent banks, clearing members
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