More NewsUS Clearing Houses Sign Merger Agreement

US Clearing Houses Sign Merger Agreement

The Clearing House and The Chicago Clearing House have signed a letter of intent to pursue a merger of the two organizations. Both organizations are owned by leading banks and serve as industry forums on issues critical to the banking industry. ‘This merger is consistent with the banking industry’s desire to standardize and rationalize industry infrastructure and associations,’ said Jeff Neubert, President and CEO of The Clearing House. ‘It sends a clear signal to the industry that the time has come for clearing houses and check exchanges across the United States to adopt common rules, common settlement, and ultimately common banking industry ownership and governance,’ he added. ‘This proposed merger reflects the fact that the banking business has changed from regional to national, from paper to electronic, from separate to consolidated,’ said Robert Fitzgerald, President of The Chicago Clearing House.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha