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Thomas Murray - Monthly Newsletter

As a local market infrastructure entity or interested participant, Thomas Murray is pleased to send you our June newsletter. This newsletter provides access to the top stories we reported on as part of our on-going surveillance of local capital markets worldwide. We currently track over 100 securities markets, 140 Central Securities Depositories and have Capital Market Infrastructure Risk Rating Reports on over 88 markets worldwide, assessing the post trade risk exposures faced by international investors.

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Vietnam - SSC to Relax the Pre-funding Requirements for FIs

The State Securities Commission (SSC) has announced that they are to relax the pre-funding requirements for foreign investors (FIs). The relaxation will enable custodian banks to confirm the ability to trade and the availability of cash balances to local brokers...

Poland - Pre-Matching and Reverse Stock Split Procedures at KDPW

KDPW, the Polish CSD, will introduce a central pre-matching facility and a reverse stock split procedure from 3 June 2008. The pre-matching facility will offer pre-matching capability for all FOP and DVP trades in the batch settlement system...

Finland - OMX Nordic Exchange Securities Lending to Close Down

On 30 June 2008, OMX Nordic Exchange will terminate stock lending operations in Finland because the volume of lending under the scheme has been consistently decreasing over a long period. After that date, Finnish stock loans...

Botswana - Botswana Plans to Implement the Development of a CSD - Update

Further to our previous newsflash, the Botswana Stock Exchange (BSE) implemented a Central Securities Depository (BSE CSD) on 22 May 2008 for the clearing and settlement of equities. Government bonds continue to be held via the Bank of Botswana...

UAE - DFM to Implement DVP Settlement and Fails Management Arrangements

Following some recommendations by the Boston Consultancy Group (BCG), the Dubai Financial Market (DFM) has established a project to enhance its practices and bring them in line with international standards. The changes which are likely to be implemented...

Total Number of Thomas Murray Flashes Issued: May 2008

Depository/CSD Risk Flashes 61 (761 year on year)
Capital Market Infrastructure Risk Flashes 55 (579 year on year)

Worth Knowing

Depository Risk Flashes

Australia - RBA and ASX announce changes in the settlement practices for equities

Germany - CBF to Introduce New Daytime Settlement Processes

Slovak Republic - CDCP to Connect to SWIFT

Mauritius - CDS to Provide Online Access to Depository Accounts

Brazil - CBLC Issues New Procedure on Loan Transactions

Capital Market Infrastructure Risk Rating Flashes

Ukraine - NDU Granted Clearing Licence

Greece - Planned Same-Day Settlement for OTC Trades

Brazil - MTS to Launch MTS Brazil

UAE - ADSM is Rebranded as ADX

Indonesia - KPEI Implements a Fixed Term Module for SBL

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June 2008

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For further information contact:

Derek Duggan, Director.
Tel: +44 (0)20 7830 8300
Email: dduggan@thomasmurray.com