This article appears courtesy of Global Investor.
James Norris, Global Investor (chair): What progress since the Giovannini Group declaration? How far has the European Central Securities Depositories Association moved to reach its goal of smooth regional clearing and settlement structures?
Reto Faber, Citi Financial Institutions Group: It has been slow progress, but that’s not necessarily a criticism. It’s evidently a complex environment to work with; many interested parties and different interests represented; many regulatory, tax, legal and other issues that need to be addressed.
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