The U.S. Securities and Exchange Commission (SEC) has greenlit the registration of a new securities clearing house, CME Securities Clearing Inc. (CMESC), intended to help trading market participants meet the SEC clearing mandate for U.S. Treasury transactions, which takes effect at the end of next year, according to CME Group, the derivatives exchanges company that… Read More >>
Options Clearing Corp. Deploys AWS Generative AI Offering
Equity derivatives clearing organization, the Options Clearing Corp. (OCC), reports that it has successfully implemented generative artificial intelligence (A.I.) technology from Amazon Web Services (AWS) in a bid to “streamline internal development processes and enhance operational efficiency,” officials say. The deployment of AWS GenAI is yielding improvements in: Code Testing: the implementation has cut time… Read More >>
SSC Expands E.U. Wealth Management Services via Ireland
SS&C Technologies has launched “a significant expansion” of its European wealth management business via SS&C Wealth Services Europe Ltd., a business that has been authorized according to the guidelines of the Markets in Financial Instruments Directive (MiFID). The new business will be based in Dublin and “will focus on helping financial institutions modernize and scale… Read More >>
LCH SA & OVHcloud Agree to Collaborate
LSEG officials report that the company’s Paris-based clearing house, LCH SA, is working with cloud provider OVHcloud in an effort to support “enhanced operational resilience, strengthened security, greater scalability and velocity of change” for LCH SA’s services. OVHcloud, also known as OVH Groupe SA, is based in Roubaix, France, and offers public and private cloud… Read More >>
SocGen Issues First U.S. Digital Bond via Broadridge
Societe Generale issued its first digital bond in the United States, utilizing new tokenization capabilities provided by Broadridge Financial Solutions, a services and systems provider for securities operations. The digital bonds were registered by Societe Generale-Forge, a subsidiary of Societe Generale dedicated to digital assets, officials say. The new tokenization support from Broadridge helps firms… Read More >>
Time to Unify the SEC & CFTC?
Should the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) become a single, unified regulator? It’s not a new question, and recently I have been asking industry veterans if now is a good time to unite the regulators as a way of achieving regulatory efficiencies. But Timothy G. Massad,… Read More >>
Can AML Systems That Use A.I. Avoid Hallucinations?
(David Caruso is vice president of financial crime compliance at WorkFusion, which describes itself as a pioneer in A.I. agents for financial crime compliance. A financial crime risk and compliance industry veteran, Caruso has worked as a former special agent with the U.S. Secret Service and as a builder of AML and sanctions compliance programs… Read More >>
T. Rowe Price Deploys Customized Platform for Corporate Bonds
T. Rowe Price has a customized platform, a version of the Primary Bond Issuance (PBI) data management and workflow solution from Genesis Global for corporate bond deals that the asset manager’s fixed-income team can use to streamline the bond deal lifecycle, officials say. Genesis customized the PBI platform for T. Rowe Price to help the… Read More >>
Millennium bcp Takes On FRTB & Market Risk
Officials at Millennium bcp say they are bolstering the financial services firm’s compliance with the Fundamental Review of the Trading Book (FRTB) and market risk management capabilities through a strategic partnership with Murex, a trading, risk management, and processing solutions provider. “Under this agreement, Millennium bcp will implement Murex’s MX.3 platform to strengthen its market… Read More >>
FNZ Raises $650M via Institutional Shareholders
Wealth-management technology provider FNZ has secured $650 million in new equity funding from its institutional shareholders to provide support for its long-term business plan and renewed support for “enhanced outcomes for clients worldwide,” officials say. Among those providing investment support are La Caisse, Generation Investment Management, Canada Pension Plan Investment Board (CPP Investments), and Motive… Read More >>
