Wall Street Letter VOL. XLV, NO. 34 - Oct. 28, 2013 | Page 3

31 OCT - 6 NOV 2013 NEWS POST-TRADE Published by Pageant Media London Thavies Inn House London EC1N 2HA T [phone] F [phone] New York 1441 Broadway Suite 3024, NY 10018 T [phone] F [phone] EDITORIAL Jeanene Timberlake Managing editor [phone] [email protected] COMMERCIAL Lucy Churchill Group commercial manager [phone] [email protected] Sean Creamer Reporter [phone] [email protected] Emily-Jane Stapleton Corporate licence manager [phone] [email protected] Gwyn Roberts Group head of content [phone] [email protected] EVENTS Beth Hall Head of events [phone] [email protected] Indira Peters-DiDio Data manager [phone] [email protected] PRODUCTION Claudia Honerjager Head of production c.honerjager@ pageantmedia.com Sub-editor Eleanor Stanley Sub-editor Luke Tuchscherer Sub-editor DISTRIBUTION Fay Muddle Circulation manager [phone] [email protected] PAGEANT MEDIA Charlie Kerr Chief executive Printed by The Manson Group ISSN# 726-98790 © 2013 Pageant Media Ltd. All rights reserved. COPYRIGHT NOTICE: No part of this publication may be copied, photocopied or duplicated in any form or by any means without Pageant Media’s prior written consent. Copying of this publication is in violation of the Federal Copyright Law (17 USC 101 et seq.). Violators may be subject to criminal penalties as well as liability for substantial monetary damages, including statutory damages up to $100,000 per infringement, costs and attorney’s fees. The next WALL STREET LETTER will be available the week of 11/4/13 The upcoming issue will feature our regular industry news coverage. Until then, news items will be available on our website at www. wallstreetletter.com Eurex to add segregation feature for omnibus clearing Eurex Clearing has set out a timeline for the addition of a segregation feature for its Elementary Clearing Model (ECM) to comply with regulations under EMIR, according to a circular issued by the utility last week. The feature will allow members to use a value-based or asset-based allocation method to distinguish member assets being held for clients or proprietary accounts, it said. As the value-based method will be used as a default, members opting to use that method will not need to make any elections and can continue to use existing accounts and infrastructure to get securities collateral to its central securities depository account and cash collateral to its account at Eurex Clearing, the utility stated. For elections to the asset-based allocation method, members will need separate accounts for their own cash and securities collateral and their omnibus clients, Eurex said. Documentation will be available next month. Testing for the new system will start Nov. 4 and the system will be available Dec. 16, Eurex said. Separately, the utility noted it is 01 CONTINUED... proposal is a positive step in right direction,” said Baxter. “It is giving the industry long-term investment articulation on stocks over a period of time.” The proposal was filed earlier this month but a comment period has yet to be set. Richard Ketchum, the CEO and chair of ?S??H?[?Y?]???[?\??H???\???[?\??[??B??H?]??\????\??\??[\?B??[??[?X\?[????[?\?\?H[?\??SRT???Q?[?\???Y?YYH][]B?]?\X?][?\???\]K]\?^??]Y[?H?^?\?[?HH?\??\??\??Y[????Y?X?][??\??[???[Z?H\?]X?\?[?Y][?[??^[???X???[\?]]?^?][?Y??X?Z]?Y?\?[?M]??ZY??PT??U??P?T?B?????]?Y]???[??Y?]]?[H[\X???[?YX[??[?Y\??Y[???[?Y\?[??[?YHX^B?????[?[\?[?\???[?\?[??Y???[?YX[??Y?[]??X?YH?[Y[???[???H?[?YX[??\????X?[??[KX???[?????Z[????X][??[???PX??[?YHX\??]X?KH?[?YX[?U???X?]??H??]?H[??Y???^?[??\??]Z[?[X[X\??]?\?B?????[??H?]?[?YH???H^??][??X\??]]H?Y\???Y??X][????[HX[?H?[?YX[?U??[??\?????]?H?X]Y?]?\?[?\?????????Y??X????X???Y\???YH\?H???\??\?[??]X??X\??]?\?K?]????\?YX[\??\?B??\]Z\?Y??Y???]\?H?????[??H\??Z]???\??X?H[??\??^X?][?X???[?????X][????'Y?[?H]?HH?Y?[]Y?\]Z\?[Y[???]H?\??X?H?[?????Y?[]HU????HH[^YY?\??[Z[?][???[Y]?????'H[??[\?[?[??\???]??]X??\?]H[???X][?]?\?\??[??\?H???H[??\???][???[??[??[?[?^?X?[???[??[?[????]?[??[?H?\?[?][???X][?8?'B??ZY?]?[K?8?'?H??&]?[???]?[??\??[Y[??\???]H?Y???\?[??[YH\??H?[?????B?[?[?]?[X]H?]H[Y\???[?K??'B????