Clearstream suspends security settlement in the Argentine market
By Davide Scigliuzzo
NEW YORK, March 31 (IFR) - Luxembourg-based Clearstream has suspended settlement for any security in the Argentine market after its local custodian Citibank recently lost its ability to provide such services, a spokesperson for the clearing house told IFR on Tuesday.
"Clearstream has suspended settlement in the Argentine market following an earlier announcement by the Argentine securities regulator that Citibank Argentina is no longer allowed to offer custody and related services in Argentina," the spokesperson said.
Clearstream said it expects to restore settlement for bonds in the Argentine market "only once it can ensure that title to securities can be safely transferred between its customers." (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)
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