All articles by Heather McKenzie

  • Unclear on clearing
    Features

    Unclear on clearing

    September 2008 (Magazine)

    As new pan-European trading platforms get ready for launch, Heather McKenzie reports on the lack of coherence in European clearing

  • Features

    Clearing the way for cross-border settlement

    May 2008 (Magazine)

    Ahead of a final decision, expected in June, regarding approval of the Target2 Securities (T2S) initiative of the European Central Bank (ECB), European clearing and settlement organisations appear to accept it as a reality. T2S is a securities settlement system based on the Target2 real time gross settlement system for ...

  • Changes in security services
    Special Report

    Changes in security services

    May 2008 (Magazine)

    Outsourcing has become an important issue for master KAGs but, as Heather McKenzie finds, it works both ways

  • Features

    Staff thin on the ground

    April 2008 (Magazine)

    The scarcity of experienced back office staff is a major driver of the uptake outsourcing services by both buy side and sell side institutions. With investment managers and pension funds becoming ever more sophisticated in their investment strategies, back offices are struggling to cope with the added processing burdens being ...

  • On the acquisition trail
    Features

    On the acquisition trail

    April 2008 (Magazine)

    Banks dominate the French securities services scene and they are taking their home market expertise abroad, reports Heather McKenzie

  • Features

    Preparing for settlement migration

    March 2008 (Magazine)

    This year could be a watershed for settlement in Europe. The European Central Bank (ECB) will decide in July whether to procede with the development of its euro-zone settlement system, Target2 Securities (T2S). Meanwhile, international central securities depository (ICSD) Euroclear plans to finish the roll-out of Euronext zone securities (Eses). ...

  • Features

    Key steps in tandem

    March 2008 (Magazine)

    The coming months will see crucial developments in the areas of bearer securities, Belgium’s new pensions vehicle and the Target2 Securities project, says Heather McKenzie

  • Features

    An evolving market of smooth transitions

    February 2008 (Magazine)

    Heather McKenzie talks to providers of transition management services and finds a variety of approaches being adopted

  • Features

    Continuing an upward trend

    February 2008 (Magazine)

    Dublin’s securities services infrastructure is showing continued growth in niche areas such as alternatives, as Heather McKenzie finds

  • Features

    Taking to custody

    January 2008 (Magazine)

    Heather McKenzie finds that the wide variety of CEE markets, from Russia to Albania, are waking up to the need for financial infrastructure

  • Features

    Inefficiencies at the heart of Europe

    December 2007 (Magazine)

    When it comes to post-trading there seems little harmony across Europe, with different models in different countries. Heather McKenzie looks at ways in which these processes might be improved

  • Features

    Custodians warm to Spain

    December 2007 (Magazine)

    Good fundamentals are attracting securities services providers but there are hurdles for non-resident investors, writes Heather McKenzie

  • Features

    Putting operational efficiency first

    November 2007 (Magazine)

    The main message from this year’s Sibos conference is that consolidation among market infrastructure and market participants will lead to a more efficient securities industry, particularly in Europe. Heather McKenzie reports

  • Features

    Running to stand still

    November 2007 (Magazine)

    Heather McKenzie finds that JPMorgan’s white label deal with Swedbank could prove to be a model that can be repeated elsewhere

  • Special Report

    Swiss seek higher financial profile

    October 2007 (Magazine)

    The nation of the world’s leading bankers wants to improve its image as a financial centre, Heather McKenzie discovers

  • Features

    Choice set to narrow as custodians merge

    October 2007 (Magazine)

    Has the recent spate of mergers in the global custody industry changed anything for custody clients? Ross Whitehill, chief operating officer at Thomas Murray, a London-based custody and capital market infrastructure ratings company, says yes. Clients have less choice each time there is M&A activity, he says, although it is ...

  • Features

    FTK and LDI make strong case for outsourcing

    September 2007 (Magazine)

    The growth of liability driven investment strategies in response to the demands of the new financial framework has increased the attractions of outsourcing for Dutch pension funds, Heather McKenzie reports

  • Features

    Custody industry consolidates

    September 2007 (Magazine)

  • Features

    Value added is core

    September 2007 (Magazine)

    Value-added is a much-used term in the securities services business, but it is a definition that quickly becomes redundant as clients come to expect more from their providers. It doesn’t take long for a value-added service to become a core part of a custodian’s standard offerings. Now, custodians provide a ...