Administration October 1, 2003
UBS Steers Business away from Clearstream
January 22, 2002 (PLANSPONSOR.com) - Taking the view
that the ownership and control of clearing and settlement
exchanges should remain separate, UBS will move some of its
business from Clearstream International, according to Dow
Jones.
Reported by Camilla Klein
UBS has indicated to both Clearstream and Deutsche Boerse that it intends to move some of its clearing and settlements business, once Deutsche Boerse completes merger talks to acquire the half of Clearstream that it doesn’t already own.
UBS, disappointed that the merger between Clearstream
and Euroclear did not go through, has indicated that the
action is dependant in part on the outcome of the talks.