Trading Technologies International (TT) has created a Platform Services business unit from its global product development and services teams to optimize core functions, reduce functional enhancement development times, and speed up service resolution efforts, officials say. Jason Shaffer will assume the new role of chief platform officer and will oversee the newly integrated unit. Vasco… Read More >>
BlackRock & Morgan Stanley Embrace Desktop Integration Standard
A greater level of desktop application interoperability between buy- and sell-side firms may be coming as BlackRock and Morgan Stanley embraced an open source standard overseen by the Fintech Open Source Foundation (FINOS), which held its annual Open Source in Finance Forum in New York City (OSFF NY) last week. The standard known as FDC3… Read More >>
T+1 Woes Did Not Sink Sec Lending Revenues
The global securities finance industry experienced a decrease in revenue for lenders in the third quarter of 2024, according to DataLend, the market data service of EquiLend. While the operational challenges of the shift to shorter T+1 settlement might appear to be the culprit, they did not cause these revenue dips, Nancy Allen, global head… Read More >>
SS&C Widens Its Embrace of Cutting-Edge Technologies
Chicago-based Choreo, LLC, a financial planning and investment advisory services firm, reports using SS&C Accord. This new service leverages artificial intelligence (A.I.) to help wealth managers aggregate and validate their customers’ alternative investment data. The SS&C Accord launch aligns with other A.I.-related and cutting-edge announcements at the SS&C Deliver 2024 Conference underway in New Orleans, Oct…. Read More >>
Emerging Derivatives Exchanges Need IT Upgrades: Report
Executives at derivatives exchanges in emerging and frontier markets say in a new survey that they need to invest in technology to grow their businesses but less than half of the venues surveyed had actually upgraded their matching engine over the past six years. This lack of state-of-the-art IT infrastructures is also striking given the… Read More >>
SEC Bolsters Security for the EDGAR Platform
In case you missed it, the Securities and Exchange Commission adopted “rule and form amendments” late last month that the SEC says will improve the security of its Electronic Data Gathering, Analysis, and Retrieval system, otherwise known as the venerable EDGAR platform. The improvements cover the access and management of filers’ accounts and have been… Read More >>
Deadline Looms for Non-Centrally Cleared Bilateral Repos
A regulatory rule for the collection of data for non-centrally cleared bilateral U.S. repurchase agreements (repos) has a compliance date — December 2 — that is less than three months away. In May, the Office of Financial Research (OFR) without much fanfare adopted a final rule to “improve transparency within the U.S. repurchase agreement (repo)… Read More >>
Meritsoft Targets Dividend Claims Management
A provider of post-trade process automation solutions, Meritsoft has launched an asset-servicing solution that automates coupon and dividend claims operations. The new offering leverages the company’s post-trade platform, which debuted in October 2023, officials say. The new solution automates “the traditionally manual process of matching corporate actions-related claims received through emailed PDF or CSV attachments… Read More >>
Is T+1 in North America a Partial Victory?
The Securities Industry and Financial Markets Association (SIFMA), Investment Company Institute (ICI), and the Depository Trust & Clearing Corp. (DTCC) released a report early last month declaring victory in the push for a shorter settlement cycle for markets in North America. However, the report fails to address some of the issues that have emerged over… Read More >>
FINOS Enlists Industry in A.I. Governance Framework Launch
The Fintech Open Source Foundation (FINOS) is calling “groundbreaking” its first draft of the “A.I. Governance Framework” for financial institutions, a vendor-agnostic document that focuses on 15 risks and 15 controls tailored for artificial intelligence systems that use Large Language Models (LLMs). LLMs are computational models “capable of language generation or other natural language processing… Read More >>
