January 8, 2013 
A nice summary of various moves to redesign the way securities move in and out of CCP using a custodian as an end-to-end service provider.
Quad Party Segregation in Spotlight for CCP Clearing | Derivsource.
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Bill Hodgson
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Interesting article, Bill. Thanks.
Many’s the time over recent years that folks have suggested the nirvana of central collateral / funding / capital management in banks. Though some banks have made a start, alas the 8 or 9 figure investment required to “do it properly” / “finish the job” is unlikely to get high up the priority list for a year or two at many banks in my view – just with the sheer throughput of essential change under Dodd-Frank, EMIR/MiFiD, Basel III, other liquidity regulations etc.
An interesting – and perhaps more immediate – related point is that organizational responsibility / business ownership of collateral needs to be reconsidered in many banks given inevitable scarcity of CCP eligible collateral and the funding cost and capital reduction benefits of getting it right under Dodd-Frank / Basel III. Several banks have made changes towards centralizing firm funding and capital management more explicitly and away from trading / prime services / client financing business lines in recent years in order to promote more effective decisions on behalf of the “firm” and probably more are to come.
Such an organizational shift will create clearer sponsorship for the central collateral infrastructure initiatives you mention which otherwise may languish as costly but somewhat tactical initiatives as part of one or other departmental or business line budget.