BT and Flexenet Launch Partnership BT officials can now offer Flexenet Private Wires connectivity “fully integrated with its BT Trading unified communications and collaboration (UCC) platform” via a new partnership between BT and Flexenet. Officials from both companies report that the new partnership is intended to provide clients with more options for cloud-based trading floor… Read More >>
Ex-SEC Enforcement Attorney Calls Crypto ‘Inherently Unsafe’
The question of the day was posed recently by a headline in The New York Times: Why Did Washington Fall So Hard for the Bankman-Fried Brothers? Of course, FTF News knows the answer. Washington politicos, like kids at the ice cream store, tend to fall for the flavor of the day. And until recently, that… Read More >>
SEC Takes Aim at Binance & Coinbase: Reporter’s Notebook
Crypto-currency is crapto-currency. Naturally, the U.S. Securities & Exchange Commission wouldn’t put it that way. The commission is much too proper. But take it from FTF News, that’s the gist of the SEC’s recent complaint against Binance Holdings Ltd. and Changpeng Zhao, its founder. It’s also the gist of a second legal complaint, alleging similar… Read More >>
T+1 Spurs Demand for SS&C’s Settlement Service & Other News
150+ Clients Sign Up for SS&C’s Trade Matching Service Citing the U.S. funds industry gearing up for T+1 trade settlement next year, SS&C Technologies reports that “more than 150 clients are using its Trade Matching & Settlements Service to support post-trade execution functions.” “Using SS&C’s Trade Matching & Settlements Service has enabled us to ensure… Read More >>
SEC Hits Back at Coinbase
It looks like the SEC and Coinbase, Inc. will have their day in court. The SEC raised the legal stakes last week by charging the cryptocurrency exchange with illegally running its crypto-asset transaction platform “as an unregistered national securities exchange, broker, and clearing agency,” and that Coinbase allegedly failed to register the sale of its… Read More >>
FINRA Fines Vanguard $800K for Inaccurate Fund Statements
Shouldn’t a firm like Vanguard Marketing Corp., (VMC) which has been a member of FINRA, the broker-dealer industry’s self-regulatory organization, since 1977, know better than to have allegedly “overstated projected yield and projected annual income for nine money market funds on approximately 8.5 million VMC account statements?” Says FINRA: “From at least October 2019 to… Read More >>
Adopt a Single Strategy & Functional Approach for T+1: Q&A
(Stephane Ritz, a managing principal at consultancy Capco, has more than two decades of experience in the administration and management of professional services for the banking, finance, and investment industries. His areas of expertise include financial accounting and taxation to business process re-engineering and IT technology implementation. Ritz specializes in leading large-scale, complex business transformations across… Read More >>
CFTC Blesses Clearing for Digital Asset Futures
Is there a lesson here for the crypto exchanges that are facing the wrath of the SEC? Digital asset clearing and settlement is a new reality for securities firms that want to keep clients happy. Toward that end, the CFTC approved Cboe Clear Digital to clear margined digital asset futures. Technically, the CFTC approved an… Read More >>
GOP Crypto Control Bill Aims for Clarity
Two key Republicans in the U.S. House of Representatives have drafted legislation that they say could help to end the confusion about cryptocurrencies and other digital assets and will set up “a functional framework” to clarify regulatory lines between the CFTC and the SEC. Patrick McHenry (NC-10), who is the chairman of the House Financial… Read More >>
Thai Exchange Trading System Uses Nasdaq Wares & Other News
SET Upgrades Core Platform The Stock Exchange of Thailand (SET) reports that it has launched a new trading platform that includes market data distribution and market surveillance systems — based on Nasdaq technology. “The new system implementation is an upgrade of the core operating system that is the heart of the Thai capital market, making… Read More >>
