SS&C Technologies is opening an office in Riyadh, the capital of Saudi Arabia, that will be headed by Issa Jadon, director, strategic accounts, who will help the post-trade systems and services provider develop its working relationship with the Capital Markets Authority and the Saudi Arabian Monetary Agency, officials say. The move into the financial hub… Read More >>
Wall Street Bonuses Show ‘Significant Bump’ for 2024
Wall Street bonuses for 2024 are estimated to hit $244,700, an increase of almost one-third — 31.5 percent — over bonuses for 2023, marking the first “significant bump” since 2021, according to the annual review compiled by New York State Comptroller Thomas P. DiNapoli. However, this bonus bounce may not be repeated next year as… Read More >>
Archax Acquires Globacap Private Markets
Archax, a digital and traditional asset exchange, broker, and custodian, is extending its reach into U.S. markets with the acquisition of Globacap Private Markets Inc., a broker-dealer and alternative trading system (ATS) that will be renamed Archax Markets U.S., officials say. “The acquisition of Globacap PMI in the U.S. builds on the strong partnership we… Read More >>
SEC Crypto Task Force Schedules More Roundtables
Following its first roundtable on March 21, the Crypto Task Force of the Securities and Exchange Commission (SEC) has slated four more roundtables as part of its ongoing series focused on crypto asset regulation. The task force dates and subjects for each roundtable are as follows: April 11, 2025: “Between a Block and a Hard… Read More >>
Groups Clash Over U.K.’s Approach to T+1 Adherence
Industry groups in the U.K. are clashing over whether the U.K.’s industry-led, principles-based approach to shorter T+1 settlement will be sufficient to facilitate an orderly transition by October 11, 2027. The U.K.’s Accelerated Settlement Taskforce published its final implementation plan, including the T+1 Code of Conduct, on Feb. 6, 2025. The plan outlines the scope,… Read More >>
Aduro to Help Clients with FinCEN Deadline via Fenergo
Aduro Advisors is partnering with financial compliance solutions provider Fenergo so that the fund administrator can offer its clients new protections that meet the requirements of the Financial Crimes Enforcement Network (FinCEN) anti-money laundering (AML) rule that goes into effect Jan. 1, 2026, officials say. This past August, FinCEN issued a final rule “to help… Read More >>
DTCC Joins Tokenization Standards Group
Post-trade infrastructure provider the Depository Trust & Clearing Corp. (DTCC) has joined a non-profit organization, the ERC3643 Association, that is focused on the development of a standardized tokenization framework and will be combining its technology with the ERC3643 token standard. The ERC3643 Association was created to bring together “the expertise and resources of its members… Read More >>
Principal Asset Management Taps SS&C Again
Principal Asset Management, the investment management division of Principal Financial Group, has extended its transfer agency relationship with SS&C Technologies, which will help the firm oversee public and private investment capabilities, multi-asset strategies, and retirement solutions. “SS&C Global Investor & Distribution Solutions will provide a full range of fund services to Principal’s 114 mutual funds,… Read More >>
Trump Media & Crypto.com to Launch Digital Asset ETFs
Trump Media and Technology Group Corp. (TMTG), operator of the social media platform Truth Social, is launching digital asset-based exchange-traded funds and exchange-traded products via a non-binding agreement with Crypto.com, a crypto trading platform, officials say. The instruments will be offered through the Truth.Fi brand. “The ETFs, made available through Crypto.com’s broker dealer Foris Capital… Read More >>
Are Firms Heading Toward a Recs-Related Disaster?
Many firms could be heading for “an operational disaster” caused by rising transactional volumes, soon-to-be-overwhelmed manual reconciliation processes, and a reliance on legacy systems, and outdated technology, according to a new report “The Tipping Point for Asset Management Operations: The rising costs of operational complacency” from provider AutoRek. The report, based on securities industry surveys,… Read More >>
