Late last month, the SEC put forward amendments intended to “modernize its information collection and analysis methods by, among other things, proposing that a number of filings be submitted to the Commission electronically on EDGAR [the Electronic Data Gathering, Analysis, and Retrieval] system using structured data where appropriate,” according to the regulator’s announcement. Many in… Read More >>
CFTC Charges Binance Founder With Evading U.S. Law
The U.S. Commodity Futures Trading Commission (CFTC) reports it has “filed a civil enforcement action charging [Binance founder] Changpeng Zhao [CZ] and three entities that operate the Binance platform with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.” The CFTC complaint, filed in the U.S. District Court for the Northern District of… Read More >>
LTX Moves Trading Platform to AWS & Other News
LTX Seeks to Leverage AWS Migration An electronic trading platform for corporate bonds LTX has migrated its platform to Amazon Web Services (AWS) with the intention of helping buy-side investors and dealers leverage the scale of AWS cloud services, officials say. The migration is also intended to help clients better optimize data science processes that… Read More >>
BNP Paribas & Clearwater Partnership Yields Combined Services
Custodian BNP Paribas Securities Services and service provider Clearwater Analytics have formed a partnership that is targeting asset owners by combining custody services with investment accounting support from Clearwater, officials say. The gain for potential clients of both is that BNPPSS and Clearwater have coupled their offerings to ensure a preconfigured set-up for all the… Read More >>
BNY Mellon Jolts Its Climate Strategy & Other News
BNY Mellon Taps Arjuna Capital Officials at the Bank of New York Mellon Corp. (BNY Mellon) say they are hoping to accelerate their climate strategy efforts via a collaboration with a sustainable investment management firm Arjuna Capital, which helps investors and institutions invest their assets according to environmental, social, and governance (ESG) concerns. “BNY Mellon… Read More >>
SEC Charges Tron Founder With Misleading Investors
It’s a time-tested way to con good, honest folks out of their hard-earned money. Dazzle them with celebrities while you pick their pockets! Case in point, according to recent allegations filed by the United States Securities and Exchange Commission (SEC): Justin Sun, a cryptocurrency entrepreneur, who paid a long list of celebrities big bucks to… Read More >>
Stock Markets Lost $25 Trillion in 2022: Report
Many observers have noted that last year was not a banner year for stock markets and a global industry group for exchanges and central clearing counterparties has backed up that point of view via a new report showing that “$25 trillion was wiped off global stock markets in 2022.” The new report from the London-based… Read More >>
Crypto Crash Fugitive Arrested in Montenegro
Do Hyeong Kwon, the alleged mastermind of a cryptocurrency fraud, has been arrested by authorities in Montenegro, a Balkan country, far from Terraform Labs, the company Kwon co-founded in Singapore. “One of the world’s most wanted fugitives was arrested in Podgorica,” according to Filip Adzic, the interior minister for Montenegro, who posted an update via… Read More >>
DTCC Solution Targets LIBOR-to-SOFR Transition
Post-trade infrastructure provider Depository Trust & Clearing Corp. (DTCC) has launched the LIBOR Benchmark Replacement Index Solution to help firms make the transition from the corrupted London Interbank Offered Rate benchmark to the Secured Offered Financing Rate (SOFR) and other replacement rate indices by June 30, 2023. The new offering is available now via DTCC’s… Read More >>
SEC Pushes New Cybersecurity Risk Mitigation
The United States Securities and Exchange Commission (SEC) proposes to address cybersecurity risks to the financial services sector. Seems like a pretty good idea, doesn’t it? Maybe even overdue, given what we know about the intentions and actions of countries like Russia and China. The new cybersecurity rules would apply to “broker-dealers, the Municipal Securities… Read More >>
