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Preparing for the Settlement Discipline Regime – CSDs, T2S and beyond

The discussion around CSDR implementation has focused largely on how the banks, custodians and asset managers are preparing, but the clock is also ticking for the CSDs as they finalise their plans ahead of implementation a year from now.  Those CSDs using TARGET2-Securities (T2S) to record their positions and settle their participants’ transactions have collectively agreed with the European Central Bank that the platform […]

Financial Transactions Tax—Spain and Beyond

  Daniel Carpenter explores the complicated nature of FTTs across different regions and the necessity for banks globally to update and industrialize their tax systems to handle the increasing number of in-scope securities across these extraterritorial taxes.  Click here to read the article in full.    First published in Bloomberg Tax & Accounting on 14th December 2020.   Reproduced […]

Abandoned property tax in focus as states seek to top up revenues

With the dramatic pandemic fall off in fiscal budgets, many American states have been taking a closer look at their abandoned property tax legislation, casting an ever-wider net for dormant accounts, and recognizing these unclaimed assets as revenue. This has resulted in increased scrutiny of financial institutions’ escheatment processes. Some states are using outside firms to locate abandoned property, […]

Banks must prepare for more financial transaction taxes

With the current global environment paving the way for an ever-greater number of taxes, Daniel Carpenter shares his thoughts on the complexities of managing multiple financial transaction taxes across multiple regions. Click here to read the full article, published in Euromoney, 18th November 2020 To find out how we can help you with your tax management requirements, please get in touch at capitalmarkets@meritsoft.com. 

Closing in on claims – the new imperative

Claims – a topical issue in recent days in the world of politics! But claims of a different kind are under increased scrutiny in the financial industry right now. The drive for post-trade process efficiency has always been important. In the new age of COVID-19, as financial institutions struggle with increased volumes due to market […]

OTC derivatives market hit by Covid-19 turmoil

Accurately calculating OTC brokerage fees during times of extreme volatility is challenging.  Any sharp rise in OTC volumes leaves investment banks paying more in brokerage fees. Dealing with multiple brokers, all with different rate card structures, is challenging during normal market conditions. But in the midst of this global pandemic, it must be nigh-on-impossible for any bank to get a […]

The CSDR settlement discipline regime – a ‘fireside chat’ at The Network Forum Autumn Meeting

Alex Duggan of Cognizant (Meritsoft’s parent company) sat down with Philip Slavin of Taskize at last week’s Network Forum to discuss the key areas of focus for firms as they seek a solution to address the CSDR settlement discipline regime. Click here for the full conversation Get in touch to find out how Meritsoft can […]

Time to tackle settlement fails

With last week’s publication of the European Commission’s Delegated Regulation postponing the Settlement Discipline Regime to 1st February 2022 due to the COVID-19 pandemic, we are now one step away from a further extension of the live date for CSDR.  The new Settlement Discipline Regime provides a set of measures designed to prevent and address failures in the settlement of securities transactions and will have […]