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<br /> January–March 2013<br /> risk.net/custody-risk<br /> CLEARING l SECURITIES LENDING l FUND ADMINISTRATION<br /> Outsourcing<br /> drives demand<br /> Top 50 Global Custody Mandates of 2012<br /> Global regulation<br /> Iosco chief calls for policy role<br /> Parliamentary pushback<br /> Esma chair defends role in technical standards<br /> Extraterritorial clash<br /> Cross-border clearing challenged<br /> Information is your edge<br /> Complete access for your entire organisation<br /> A Risk.net information solutions package gives you<br /> and your colleagues access to everything Risk<br /> provides, plus exclusive online features.<br /> · Get access to all content from Risk and five other market-leading<br /> publications on risk management, regulation and complex<br /> financial products – Asia Risk, Energy Risk, Life & Pension Risk,<br /> Operational Risk & Regulation and Structured Products<br /> · Access exclusive news stories that do<a title="Custody Risk Issue 96 page 1" href="http://viewer.zmags.com/publication/6b7893ad?page=1"> January–March 2013 risk.net/custody-risk </a> <a title="Custody Risk Issue 96 page 2" href="http://viewer.zmags.com/publication/6b7893ad?page=2"> Information is your edge Complete access for </a> <a title="Custody Risk Issue 96 page 3" href="http://viewer.zmags.com/publication/6b7893ad?page=3"> COMMENT Solving systemic risk in harmony Edi</a> <a title="Custody Risk Issue 96 page 4" href="http://viewer.zmags.com/publication/6b7893ad?page=4"> SPONSORED STATEMENT Is fully compliant SSI data</a> <a title="Custody Risk Issue 96 page 5" href="http://viewer.zmags.com/publication/6b7893ad?page=5"> CONTENTS ISSUE 96 12 11</a> <a title="Custody Risk Issue 96 page 6" href="http://viewer.zmags.com/publication/6b7893ad?page=6"> NEWS News in brief Options clearing pushed to</a> <a title="Custody Risk Issue 96 page 7" href="http://viewer.zmags.com/publication/6b7893ad?page=7"> NEWS South Africa's securities lenders seek co</a> <a title="Custody Risk Issue 96 page 8" href="http://viewer.zmags.com/publication/6b7893ad?page=8"> NEWS News in brief Thailand backs cash equity</a> <a title="Custody Risk Issue 96 page 9" href="http://viewer.zmags.com/publication/6b7893ad?page=9"> PEOPLE MOVES Grundmann joins JP Morgan as head</a> <a title="Custody Risk Issue 96 page 10" href="http://viewer.zmags.com/publication/6b7893ad?page=10"> PEOPLE MOVES effective March 1. Johnson and Mea</a> <a title="Custody Risk Issue 96 page 11" href="http://viewer.zmags.com/publication/6b7893ad?page=11"> MANDATE WATCH Operating on a new level The fi</a> <a title="Custody Risk Issue 96 page 12" href="http://viewer.zmags.com/publication/6b7893ad?page=12"> MANDATE WATCH being spent on technology, interf</a> <a title="Custody Risk Issue 96 page 13" href="http://viewer.zmags.com/publication/6b7893ad?page=13"> What does the future hold? Nicolas Billeaud, he</a> <a title="Custody Risk Issue 96 page 14" href="http://viewer.zmags.com/publication/6b7893ad?page=14"> TOP 50 GLOBAL CUSTODY MANDATES BNP Paribas leads</a> <a title="Custody Risk Issue 96 page 15" href="http://viewer.zmags.com/publication/6b7893ad?page=15"> TOP 50 GLOBAL CUSTODY MANDATES Pagina/shuttersto</a> <a title="Custody Risk Issue 96 page 16" href="http://viewer.zmags.com/publication/6b7893ad?page=16"> TOP 50 GLOBAL CUSTODY MANDATES Top 50 global cus</a> <a title="Custody Risk Issue 96 page 17" href="http://viewer.zmags.com/publication/6b7893ad?page=17"> 2012 global custody mandates by sector Sector </a> <a title="Custody Risk Issue 96 page 18" href="http://viewer.zmags.com/publication/6b7893ad?page=18"> TOP 50 GLOBAL CUSTODY MANDATES Top 20 European g</a> <a title="Custody Risk Issue 96 page 19" href="http://viewer.zmags.com/publication/6b7893ad?page=19"> and scope to expand the relationship into securit</a> <a title="Custody Risk Issue 96 page 20" href="http://viewer.zmags.com/publication/6b7893ad?page=20"> TOP 50 GLOBAL CUSTODY MANDATES 2012 European glo</a> <a title="Custody Risk Issue 96 page 21" href="http://viewer.zmags.com/publication/6b7893ad?page=21"> relationships with other businesses in the RBC gr</a> <a title="Custody Risk Issue 96 page 22" href="http://viewer.zmags.com/publication/6b7893ad?page=22"> TOP 50 GLOBAL CUSTODY MANDATES Top 50 global cus</a> <a title="Custody Risk Issue 96 page 23" href="http://viewer.zmags.com/publication/6b7893ad?page=23"> TOP 50 GLOBAL CUSTODY MANDATES Top 50 global cus</a> <a title="Custody Risk Issue 96 page 24" href="http://viewer.zmags.com/publication/6b7893ad?page=24"> Q&A Force Maijoor Esma was tasked with drawing up</a> <a title="Custody Risk Issue 96 page 25" href="http://viewer.zmags.com/publication/6b7893ad?page=25"> ing would be displaced to less stringent CCPs tha</a> <a title="Custody Risk Issue 96 page 26" href="http://viewer.zmags.com/publication/6b7893ad?page=26"> CLEARING Holding firm While the Group of 20 nat</a> <a title="Custody Risk Issue 96 page 27" href="http://viewer.zmags.com/publication/6b7893ad?page=27"> critical that we get that formal confirmation,” a</a> <a title="Custody Risk Issue 96 page 28" href="http://viewer.zmags.com/publication/6b7893ad?page=28"> CLEARING market reactions. The LCH.Clearnet pru</a> <a title="Custody Risk Issue 96 page 29" href="http://viewer.zmags.com/publication/6b7893ad?page=29"> TAXATION When in Rome Hogan Lovells partner Vito </a> <a title="Custody Risk Issue 96 page 30" href="http://viewer.zmags.com/publication/6b7893ad?page=30"> TAXATION always known to investors and intermed</a> <a title="Custody Risk Issue 96 page 31" href="http://viewer.zmags.com/publication/6b7893ad?page=31"> PEOPLE PROFILE A global enforcer? Changes to</a> <a title="Custody Risk Issue 96 page 32" href="http://viewer.zmags.com/publication/6b7893ad?page=32"> PEOPLE PROFILE “There are no sanctions, no inst</a> <a title="Custody Risk Issue 96 page 33" href="http://viewer.zmags.com/publication/6b7893ad?page=33"> CLEARING On-message for onshore clearing? Like ma</a> <a title="Custody Risk Issue 96 page 34" href="http://viewer.zmags.com/publication/6b7893ad?page=34"> CLEARING to be trying to preserve that option. </a> <a title="Custody Risk Issue 96 page 35" href="http://viewer.zmags.com/publication/6b7893ad?page=35"> CLEARING “It makes sense for us to start with l</a> <a title="Custody Risk Issue 96 page 36" href="http://viewer.zmags.com/publication/6b7893ad?page=36"> EXCHANGES Merger margins Ice's December announcem</a> <a title="Custody Risk Issue 96 page 37" href="http://viewer.zmags.com/publication/6b7893ad?page=37"> EXCHANGES pete head to head with CME,” says a h</a> <a title="Custody Risk Issue 96 page 38" href="http://viewer.zmags.com/publication/6b7893ad?page=38"> CEO INTERVIEW Six of the best Thomas Zeeb, chief </a> <a title="Custody Risk Issue 96 page 39" href="http://viewer.zmags.com/publication/6b7893ad?page=39"> REPOSITORIES War reporting Rule 1001 routes trade</a> <a title="Custody Risk Issue 96 page 40" href="http://viewer.zmags.com/publication/6b7893ad?page=40"> REPOSITORIES is because it ties customers to th</a> <a title="Custody Risk Issue 96 page 41" href="http://viewer.zmags.com/publication/6b7893ad?page=41"> REPOSITORIES be free to commercialise the swap </a> <a title="Custody Risk Issue 96 page 42" href="http://viewer.zmags.com/publication/6b7893ad?page=42"> LAST WORD Quotes of the quarter Stewart Macbeth, </a> <a title="Custody Risk Issue 96 page 43" href="http://viewer.zmags.com/publication/6b7893ad?page=43"> APRIL 2013 Empire Room, Empire State Building, Ne</a> <a title="Custody Risk Issue 96 page 44" href="http://viewer.zmags.com/publication/6b7893ad?page=44"> Securities Financing Auction Services </a>