The move to a shorter settlement cycle for European equities has many more moving parts than the transition in the U.S. and Canada, which are moving fast from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for equity markets. In addition, Europe does yet face pressure from… Read More >>
Broadridge’s NYFIX Links to Linedata OMS & Other News
Broadridge Expands Partnership with Linedata The NYFIX Matching solution from Broadridge Financial Solutions will be integrated with the Longview order management system (OMS) from Linedata to provide more automation for NYFIX’s middle- and back-office functions, officials say. To make more automation possible, Broadridge expanded its partnership with Linedata, a provider of asset management and credit… Read More >>
Time to Rethink A.I.?
You don’t need artificial intelligence (A.I.) to predict what the economy is up to, or the perils of global climate change, or even what the local weather will be like next weekend. But that does appear to be where we are headed. Don’t just take it from FTF News. Ask Jamie Dimon, the chief executive… Read More >>
TNS Buys BornTec’s Co-Location Services & Other News
TNS Adds to Global Connectivity Footprint Transaction Network Services (TNS) has acquired BornTec’s managed hosting and co-location business, which will add to TNS’ global connectivity footprint and bolster previous TNS acquisitions, officials say. The latest acquisition was completed on March 21, 2023. The BornTec co-location acquisition adds to TNS’s global deployment of Layer 1 ultra-low… Read More >>
T. Rowe Price & Others to Test Public Blockchains
While the hype surrounding blockchain technology cooled long ago, the hope remains that it will yield trading technology breakthroughs. With that hope in mind, T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland are “an initial cohort” of financial services firms participating in a test of public blockchain infrastructure. They will explore the benefits of… Read More >>
Northern Trust Lands Asset Servicing Client & Other News
Holland College Taps Northern Trust Holland College, a community college on Prince Edward Island, has tapped custodian Northern Trust to provide asset servicing solutions such as custody, investment risk and analytical services, and benefit payment services, officials says. “Innovation and technology were key priorities for our institution when we went to market for a… Read More >>
Derivatives Firms Take Ransomware More Seriously: Q&A
(Editor’s note: In late January, ION Cleared Derivatives, part of the ION Group, reported “a cybersecurity event,” which was a ransomware attack that set off a crisis for the global processing of cleared derivative instruments. The attack got the attention of the CFTC and the Futures Industry Association (FIA) as company officials worked to resolve… Read More >>
SWIFT Optimistic After Applying Blockchain to Corporate Actions
Six major financial services firms and the SWIFT financial messaging cooperative report that late last month they pilot-tested a blockchain-based solution that streamlines the communication of “significant corporate events to investors” by getting rid of multiple data problems. In an announcement and a report, SWIFT provided details about this latest collaborative experiment with six securities… Read More >>
Pershing X to Use Snowflake’s Data Cloud & Other News
Pershing X is Expanding Its Services The Pershing X technology provider and business unit of BNY Mellon reports that it hopes to bring new analytics and data management to clients via a collaboration with Snowflake, a data cloud provider. Pershing X is “expanding its stand-alone data service offerings to wealth management firms” via the Snowflake… Read More >>
UBS Completes Repo Trade via Blockchain & Other News
Banks Use Broadridge DLR Platform UBS and an unnamed Asian bank have “executed the first cross-border intraday repo transaction on Broadridge’s blockchain-enabled Distributed Ledger Repo (DLR) platform,” according to operations, systems, and services provider Broadridge Financial Solutions. The intraday trade “marks the launch of the next phase in the rollout of Broadridge’s DLR platform …… Read More >>
