Advantage Futures, a Chicago-based futures commission merchant (FCM), has migrated to ION’s XTP cleared derivatives trade processing platform to achieve “extensive automation across clearing and settlement workflows,” officials say. “After using the same post-trade technology platform for decades, Advantage Futures sought a flexible, modern solution that could provide extensive automation across clearing and settlement workflows,”… Read More >>
T+1 Hit Home Harder Than Expected
A new survey from Citi Securities Services is lifting the lid on the widespread ramifications of North America’s recent shift to T+1 settlement, with effects rippling across the entire trade lifecycle. While the DTCC, brokers, and custodians have remained relatively quiet since the May transition, Citi’s Securities Services Evolution 2024 survey shows that 44 percent… Read More >>
IVP Expands Reach via IntegriDATA Acquisition
With backing from private equity firm PPC Enterprises (PPC), managed services provider Indus Valley Partners (IVP) has acquired IntegriDATA, an alternative investment software solutions provider, and combined their respective cloud platforms, officials say. A specialist middle-market PE firm, PPC is a minority investor in IVP, and the acquisition is intended to position the IVP Group… Read More >>
FICC Sets a T-Bonds Record as Costs to Rise
The Government Securities Division (GSD) of the Fixed Income Clearing Corp. (FICC) cleared $9.2 trillion in U.S. Treasury activity on September 3, a record-setting milestone that could bode well for the mandated centralized clearing to come next year. The steady industry movement to centralized clearing is a sign that industry players are embracing the reforms… Read More >>
ABN AMRO Clearing Bank to Open a Romanian Hub
ABN AMRO Clearing Bank (AACB) and Levi9 Technology Services are collaborating to open an IT hub in Romania to better serve AACB clients via “global, high-end, and fast solutions,” officials say. The hub, based in Iași, Romania, will bring together Levi9 and AACB staff who will focus on “multiple IT applications and infrastructure,” officials say…. Read More >>
Is the Price Tag for T+1 Edging Upward?
Earlier this year, Bloomberg Intelligence (BI) estimated that the U.S. transition to T+1 settlement could cost the securities industry more than $31 billion a year, with the move reflecting “profound implications” for both the U.S. and global markets. For now, though, the full impact is still emerging, says Gerard Walsh, who leads Northern Trust‘s global… Read More >>
Events Exchange Kalshi Klear Wins DCO Approval
Kalshi Klear LLC, a regulated exchange and prediction market, is a new derivatives clearing organization (DCO) via an order of registration from the Commodity Futures Trading Commission (CFTC). CFTC officials say Kalshi has demonstrated its ability to comply with the Commodity Exchange Act (CEA) and CFTC regulations that apply to DCOs. Kalshi’s affiliate, KalshiEx LLC,… Read More >>
Get Ready for More Form N-PORT Reporting
An overhaul is coming for Form N-PORT via amendments recently passed by the Securities and Exchange Commission (SEC). “Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess a fund’s risks,” the SEC explains. “The Form N-PORT amendments will require … generally registered open-end funds, registered closed-end funds,… Read More >>
SmartStream Adds Faster APIs to TLM Collateral Management
Officials at post-trade technology provider SmartStream say that their Transaction Lifecycle Management (TLM) Collateral Management solution, version 7.0, bolsters straight through processing via new workflow automation support for margin, interest, and substitution calls. The changes are intended to help financial services firms that face rising costs, regulatory pressures, increased risk profiles, and that need “better… Read More >>
Barnett Waddingham Stays With GBST’s Upgraded ‘Composer’
Financial technology provider GBST reports that its Composer platform will continue to support the Self-Invested Personal Pension (SIPP) administration program of professional services consultancy Barnett Waddingham via the renewal of their agreement. The London-based Barnett Waddingham is an independent professional services consultancy serving risk, pensions, investment, and insurance markets. “GBST has provided SIPP technology to… Read More >>
