Custodian BNY Mellon and Microsoft are joining forces again to bring together Microsoft Azure cloud computing and BNY Mellon’s financial data and analytics capabilities, including an exploration of artificial intelligence (A.I.), officials say. The companies have worked together before “creating data, technology, and content solutions for investment managers on Microsoft Azure,” officials say. This latest… Read More >>
Buy Side Seeks FX T+1 Settlement Workarounds
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC) descended upon a European Commission workshop on T+1 settlement last week to urge regulators to include foreign exchange (FX) in their efforts to reduce settlement times in coordination with central banks, the Bank for International Settlements (BIS), and CLS Bank. One trade association in… Read More >>
MUFG Launches a Major Foray into Asset Management
Mitsubishi UFJ Financial Group (MUFG) quietly announced what could turn out to be a major wave in the global asset management industry. MUFG, the holding company for commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing services, recently announced that it has begun implementing an asset management (AM) business strategy that… Read More >>
SIX Launches Crypto Reference Rates & Indices
Market and reference data provider SIX has launched the SIX Reference Rate Crypto and SIX Real-Time Crypto Indices for financial institutions and digital asset trading venue AsiaNext and its crypto derivatives transaction platform, officials say. “The SIX Reference Rate Crypto Indices are accessible for tracking and analysis through AsiaNext’s institutional crypto derivatives platform, as well… Read More >>
CFTC Asks for Input on A.I. & Derivatives
The Commodity Futures Trading Commission (CFTC) wants input from derivatives industry participants about the ways artificial intelligence (A.I.) might impact them. The regulator’s Divisions of Market Oversight, Clearing and Risk, Market Participants, and Data and the Office of Technology Innovation sent out a request for comment (RFC) “to better inform them on the current and… Read More >>
ETF Industry Braces for T+1 Ops Headaches
U.S. regulators are leaving it to the $10 trillion exchange-traded fund (ETF) industry to devise solutions for securities operation headaches arising from the North American transition to T+1 settlement scheduled for May 28 of this year. The International Securities Services Association (ISSA) says it has had some “useful discussions” with the U.S. Securities Exchange Commission… Read More >>
Broadridge Applies A.I. to the Post-Trade Lifecycle
Broadridge Financial Solutions is launching what it is calling “a holistic natural language interface” that will reach across the post-trade lifecycle to help operations staff members, analysts, and management teams interrogate and revamp operations via the capabilities of artificial intelligence (A.I.). This new capability has been branded OpsGPT and is based on Generative A.I. (GenA.I.)… Read More >>
Nominations Are Open for the 2024 FTF Awards!
Financial Technologies Forum (FTF) has launched the nomination process for the 2024 FTF News Technology Innovation Awards competition, which recognizes the operational excellence of professionals, financial technology vendors, service providers, and industry bodies that had significant achievements in the 2023 calendar year. The winners of the FTF Awards competition are chosen by their peers in… Read More >>
Europe’s T+1 Lag Could Spur Global Settlement Disarray
The impending switch to T+1 settlement in North America scheduled for May 28, 2024, has raised concerns in Europe, where market participants report a lack of international testing. Although not officially moving to T+1 just yet, Europe launched its T+1 taskforce led by the Association for Financial Markets in Europe (AFME) in March last year. In early conversations… Read More >>
Time to Buy Not Build an OMS?
(Global banks and other sell-side firms face “a technological fork in the road” when it comes to order management systems (OMSes), according to a recent report, “The Future State of Global OMS,” from market research firm Datos Insights. “Sell-side firms … will need to reevaluate the value proposition of their existing OMS architecture and determine… Read More >>
