
The CCP facility is a similar arrangement to that used for exchange
traded derivatives and is also in use on Euronext, the combined
Belgian, Dutch and French securities and derivatives markets,
through the clearing house Clearnet. The international CSDs
Euroclear and Clearstream both offer a service based on a variety of
securities and funds.
We referred to funding and cash management in the previous
chapter. With the comparatively poorer settlement performance of
equity transactions, albeit an improving situation, and the issues
surrounding registration timing, the funding of equities transactions
will be more difficult to manage for the operations team. ...