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<br /> July–September 2013<br /> risk.net/custody-risk<br /> CLEARING l SECURITIES LENDING l FUND ADMINISTRATION<br /> Global Custody Survey<br /> Assets in safekeeping recover<br /> AIFMD<br /> Quantifying the depository liability<br /> Mathias Papenfuss<br /> T2S plugs Basel III capital hole<br /> Emir<br /> Energy companies to breach<br /> clearing thresholds<br /> SECURITIES SERVICES<br /> MORE THAN A PARTNERSHIP:<br /> A GENUINE TEAM<br /> WE BUILD LONG-LASTING, COLLABORATIVE RELATIONSHIPS WITH<br /> OUR CLIENTS TO HELP THEM GO FURTHER IN THEIR DEVELOPMENT.<br /> IN TODAY'S CONSTANTLY EVOLVING AND COMPLEX WORLD, WE STRIVE TO<br /> PROVIDE OUR CLIENTS WITH INCREASINGLY EFFICIENT AND RELIABLE<br /> SECURITIES SERVICES ON A DAILY BASIS TO ENSURE THEY GET AHEAD.<br /> MEET US AT SIBOS DUBAÏ - STAND C27 - 16/19 SEPTEMBER 2013<br /> SIBOS.SOCIETEGENERALE.COM<br /> Societe Generale Securities Services is a marketing name for the securities services busine<a title="Custody Risk Issue 98 page 1" href="http://viewer.zmags.com/publication/e8f9a239?page=1"> July–September 2013 risk.net/custody-risk </a> <a title="Custody Risk Issue 98 page 2" href="http://viewer.zmags.com/publication/e8f9a239?page=2"> SECURITIES SERVICES MORE THAN A PARTNERSHIP:</a> <a title="Custody Risk Issue 98 page 3" href="http://viewer.zmags.com/publication/e8f9a239?page=3"> COMMENT A question of responsibility Read i</a> <a title="Custody Risk Issue 98 page 4" href="http://viewer.zmags.com/publication/e8f9a239?page=4"> </a> <a title="Custody Risk Issue 98 page 5" href="http://viewer.zmags.com/publication/e8f9a239?page=5"> CONTENTS ISSUE 98 10 Al</a> <a title="Custody Risk Issue 98 page 6" href="http://viewer.zmags.com/publication/e8f9a239?page=6"> NEWS News in brief CCPs jump through Esma hoo</a> <a title="Custody Risk Issue 98 page 7" href="http://viewer.zmags.com/publication/e8f9a239?page=7"> NEWS Esma unlikely to impact ETF securities le</a> <a title="Custody Risk Issue 98 page 8" href="http://viewer.zmags.com/publication/e8f9a239?page=8"> NEWS News in brief CFTC-SEC cross-border spli</a> <a title="Custody Risk Issue 98 page 9" href="http://viewer.zmags.com/publication/e8f9a239?page=9"> FIRST PERSON Slow process leungchopan/shutterst</a> <a title="Custody Risk Issue 98 page 10" href="http://viewer.zmags.com/publication/e8f9a239?page=10"> FIRST PERSON Kong</a> <a title="Custody Risk Issue 98 page 11" href="http://viewer.zmags.com/publication/e8f9a239?page=11"> SPONSORED STATEMENT The future of custody Jean-</a> <a title="Custody Risk Issue 98 page 12" href="http://viewer.zmags.com/publication/e8f9a239?page=12"> REGULATION Capital punishment Nagy-Bagoly Arpad </a> <a title="Custody Risk Issue 98 page 13" href="http://viewer.zmags.com/publication/e8f9a239?page=13"> consistent set of requirements for European banks</a> <a title="Custody Risk Issue 98 page 14" href="http://viewer.zmags.com/publication/e8f9a239?page=14"> REGULATION assets, both within its own custody </a> <a title="Custody Risk Issue 98 page 15" href="http://viewer.zmags.com/publication/e8f9a239?page=15"> REGULATION Custodians' use of sub-custodians Cus</a> <a title="Custody Risk Issue 98 page 16" href="http://viewer.zmags.com/publication/e8f9a239?page=16"> EMIR Not in the clear The European Market </a> <a title="Custody Risk Issue 98 page 17" href="http://viewer.zmags.com/publication/e8f9a239?page=17"> think. Aily Armour-Biggs, London-based managing d</a> <a title="Custody Risk Issue 98 page 18" href="http://viewer.zmags.com/publication/e8f9a239?page=18"> EMIR One factor that will be important to m</a> <a title="Custody Risk Issue 98 page 19" href="http://viewer.zmags.com/publication/e8f9a239?page=19"> GLOBAL CUSTODY SURVEY Custody rising Cardens Des</a> <a title="Custody Risk Issue 98 page 20" href="http://viewer.zmags.com/publication/e8f9a239?page=20"> GLOBAL CUSTODY SURVEY Global custody assets Serv</a> <a title="Custody Risk Issue 98 page 21" href="http://viewer.zmags.com/publication/e8f9a239?page=21"> GLOBAL CUSTODY SURVEY including processing of v</a> <a title="Custody Risk Issue 98 page 22" href="http://viewer.zmags.com/publication/e8f9a239?page=22"> INTERVIEW Targeting capital holes Mathias Papenfu</a> <a title="Custody Risk Issue 98 page 23" href="http://viewer.zmags.com/publication/e8f9a239?page=23"> allow. We are encouraged by the work of the T2S H</a> <a title="Custody Risk Issue 98 page 24" href="http://viewer.zmags.com/publication/e8f9a239?page=24"> CROSS-MARGINING The slow growth of cross-product</a> <a title="Custody Risk Issue 98 page 25" href="http://viewer.zmags.com/publication/e8f9a239?page=25"> “We're live on CME for our house activity and we'</a> <a title="Custody Risk Issue 98 page 26" href="http://viewer.zmags.com/publication/e8f9a239?page=26"> CROSS-MARGINING It also means that once the com</a> <a title="Custody Risk Issue 98 page 27" href="http://viewer.zmags.com/publication/e8f9a239?page=27"> Information is your edge Complete access for </a> <a title="Custody Risk Issue 98 page 28" href="http://viewer.zmags.com/publication/e8f9a239?page=28"> CREDIT DEFAULT SWAPS Abuse of power? The European</a> <a title="Custody Risk Issue 98 page 29" href="http://viewer.zmags.com/publication/e8f9a239?page=29"> CREDIT DEFAULT SWAPS trading would have reduced</a> <a title="Custody Risk Issue 98 page 30" href="http://viewer.zmags.com/publication/e8f9a239?page=30"> CREDIT DEFAULT SWAPS Sell side versus buy side (</a> <a title="Custody Risk Issue 98 page 31" href="http://viewer.zmags.com/publication/e8f9a239?page=31"> “The EC has made clear that procrastinating and l</a> <a title="Custody Risk Issue 98 page 32" href="http://viewer.zmags.com/publication/e8f9a239?page=32"> CLEARING The CCP price The health of the financial</a> <a title="Custody Risk Issue 98 page 33" href="http://viewer.zmags.com/publication/e8f9a239?page=33"> 1 CME Group CDS price submission process Deale</a> <a title="Custody Risk Issue 98 page 34" href="http://viewer.zmags.com/publication/e8f9a239?page=34"> CLEARING the problem of fictitious, manipulativ</a> <a title="Custody Risk Issue 98 page 35" href="http://viewer.zmags.com/publication/e8f9a239?page=35"> Explicit exemption German government-owned develo</a> <a title="Custody Risk Issue 98 page 36" href="http://viewer.zmags.com/publication/e8f9a239?page=36"> MANDATE WATCH Citi heads mandate wins with £1</a> <a title="Custody Risk Issue 98 page 37" href="http://viewer.zmags.com/publication/e8f9a239?page=37"> ties lending and borrowing and global custody ser</a> <a title="Custody Risk Issue 98 page 38" href="http://viewer.zmags.com/publication/e8f9a239?page=38"> PEOPLE MOVES DTCC announces executive manageme</a> <a title="Custody Risk Issue 98 page 39" href="http://viewer.zmags.com/publication/e8f9a239?page=39"> PEOPLE MOVES </a> <a title="Custody Risk Issue 98 page 40" href="http://viewer.zmags.com/publication/e8f9a239?page=40"> PEOPLE MOVES </a> <a title="Custody Risk Issue 98 page 41" href="http://viewer.zmags.com/publication/e8f9a239?page=41"> European CCP rules `stricter than US' Thomas Bo</a> <a title="Custody Risk Issue 98 page 42" href="http://viewer.zmags.com/publication/e8f9a239?page=42"> LAST WORD Quotes of the quarter Under the alterna</a> <a title="Custody Risk Issue 98 page 43" href="http://viewer.zmags.com/publication/e8f9a239?page=43"> WEDNESDAY 20TH NOVEMBER 2013 The Royal Garden Hot</a> <a title="Custody Risk Issue 98 page 44" href="http://viewer.zmags.com/publication/e8f9a239?page=44"> </a>