Clearstream, the post-trade business unit of Deutsche Börse Group, has joined the distributed-ledger technology (DLT) trials and experiments of the European Central Bank (ECB), which is exploring DLT’s potential for wholesale central bank money settlement, given the emergence of a digital Euro. “The ECB trials will be conducted in a productive environment, using real central… Read More >>
France Active Scraps Spreadsheets & Manual Ops via Clearwater
French venture capital firm France Active has moved away from spreadsheets and manual processes and will automate its investment accounting operations as well as centralize its accounting book of record via a Clearwater Analytics platform. Based in Montreuil, France, France Active, founded in 1988, is a nonprofit that invests in “socially committed” French companies such… Read More >>
DSB Wants Your Feedback on OTC Derivative Identifiers
Issues around the unique product identifier (UPI) and UPI regulatory reporting will likely be top of mind for derivatives industry participants who respond to the Derivatives Service Bureau (DSB)’s 2024 industry consultation. The industry outreach will also encourage feedback about the OTC International Securities Identification Number (ISIN), and classification financial instrument (CFI) service provisions. The… Read More >>
Perennial Partners Taps SS&C for Transfer Agency Services
Perennial Partners will be deploying a transfer agency and investor servicing system, the Global Investor and Distribution Solutions (GIDS) from SS&C Technologies, to streamline unit registry/call center services across its financial product lines, according to the Australian asset manager. “SS&C’s Managed Fund Administration unit will provide a full range of services to Perennial’s investors across… Read More >>
SEC’s Recordkeeping Crackdown Is Just the Start
(Editor’s note: As many firms have found out, the Securities and Exchange Commission (SEC) was serious when it announced a crackdown on the recordkeeping culture of the U.S. securities industry. Nearly 30 of the industry’s top financial services firms have been accused of violating recordkeeping rules. In fact, during the SEC’s 2023 fiscal year, 25… Read More >>
iCapital Buys Mirador to Better Serve Alts Space
iCapital, a platform provider for alternative investment markets, is hoping to expand its data management and reporting capabilities for the wealth management, family office, endowment, and foundation segment markets via its recently announced acquisition of Mirador, officials say. Mirador offers investment data aggregation, financial reporting services, middle office support, and IT solutions and products to… Read More >>
U.K. Taskforce Urges ‘Pragmatic,’ Two-Phase T+1 Transition
The Accelerated Settlement Taskforce, initiated by the U.K. government to explore expediting the settlement of financial trades in the U.K., has released its latest report, advocating for the transition to T+1 by December 31, 2027. Speaking to FTF News, Charlie Geffen, chair of the task force, says a very clear theme has emerged: the U.K…. Read More >>
FTF Unveils the 2024 FTF Awards Nominees!
Financial Technologies Forum (FTF) has unveiled the nominations for the 2024 FTF News Technology Innovation Awards competition, and the list of nominees reflects the dynamics of an industry facing digital transitions, a major effort to shorten settlement, and a final push to eliminate manual processes. The winners of the FTF Awards competition are chosen by… Read More >>
SIX Expands Fixed Income Wares via FactEntry Acquisition
SIX, an exchanges and financial data company, reports that it has acquired a majority stake in FactEntry, a fixed income data and solutions vendor, as a way for SIX to strengthen its cross-asset data offerings for the front-, middle-, and back-office. The majority stake acquisition closed on March 27, 2024, and financial terms and deal… Read More >>
Swift Explores CBDC Links to FX, Tokens & Liquidity
The global Swift financial messaging cooperative has completed a collaborative “sandbox experiment” testing the interoperability of an interlinking solution for central bank digital currencies (CBDCs) intended to “simplify and speed up trade flows, unlock growth in tokenized securities markets, and enable efficient FX settlement,” officials say. CBDCs are the digital currencies likely to be issued… Read More >>
