Euroclear criticises non-neutral industry utilities

Clearing houses in vertical exchange-owned silos are less likely to deliver collateral and margin management business to a collateral agent or custodian that is part of a competitor’s vertical model

Saheed Awan, Euroclear

During the financial crisis we witnessed financial market infrastructures being tested in the extreme. Firms such as Lehman Brothers, Northern Rock and RBS endured traumatic business experiences. Even the largely unsung providers of post-trade securities services did not escape the force of the financial storm. Euroclear’s services, including tri-party collateral management systems and services, were also subjected to stern duress and a new horizon of business challenges. However, Euroclear and