Euroclear to defy Brexit uncertainty and invest in the UK
21 November 2019 Brussels
Image: Shutterstock
Euroclear has reinforced its commitment to the UK after Brexit, with plans for further investment in its London presence.
Speaking at the recent Euroclear Collateral Conference in Brussels, Olivier Grimonpont, global head of securities financing and collateral management products at Euroclear, said that regardless of the Brexit, the UK will remain one of the “most important financial centres in the world”.
He went on to say that Euroclear’s UK entity will remain a key component of the group’s business which it will continue to invest in and make sure that it develops services that match the UK’s needs today and in the future.
“Brexit is one of those geopolitical challenges [today], but at Euroclear we have kept a constant dialogue with you [Euroclear clients in the UK],” he said. “You have asked us to be agile and follow market developments, you asked us to propose timetables that make sense, and you asked us to stick to clear communication and stick to our planning.”
“We have done our best to do what you have asked for, and we continue to do so by keeping you informed and keeping your keen eye on the horizon, too.”
Later in the update, Grimonpont revealed that in the first half of 2020, Euroclear will perform a market-wide consultation on what clients would like to see in the collateral management services in the UK.
Meanwhile, as of June [2020], Euroclear will make its auto borrow programme available in the UK, which will allow dealers to cover fails between direct UK firms leveraging the service available in the UK bank.
Speaking at the recent Euroclear Collateral Conference in Brussels, Olivier Grimonpont, global head of securities financing and collateral management products at Euroclear, said that regardless of the Brexit, the UK will remain one of the “most important financial centres in the world”.
He went on to say that Euroclear’s UK entity will remain a key component of the group’s business which it will continue to invest in and make sure that it develops services that match the UK’s needs today and in the future.
“Brexit is one of those geopolitical challenges [today], but at Euroclear we have kept a constant dialogue with you [Euroclear clients in the UK],” he said. “You have asked us to be agile and follow market developments, you asked us to propose timetables that make sense, and you asked us to stick to clear communication and stick to our planning.”
“We have done our best to do what you have asked for, and we continue to do so by keeping you informed and keeping your keen eye on the horizon, too.”
Later in the update, Grimonpont revealed that in the first half of 2020, Euroclear will perform a market-wide consultation on what clients would like to see in the collateral management services in the UK.
Meanwhile, as of June [2020], Euroclear will make its auto borrow programme available in the UK, which will allow dealers to cover fails between direct UK firms leveraging the service available in the UK bank.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
