A new survey from SS&C Technologies finds that artificial intelligence, particularly in its more advanced iterations, has captured the imagination of executive and senior IT and operations managers at financial services firms. However, firms need to do much more groundwork, such as building “the foundations — governance, trust, skills, readiness and more” before embracing advances… Read More >>
The CFTC Takes a U-Turn on Digital Assets
Earlier this month, amid a flurry of executive orders, policy shifts, and layoffs of federal workers, the Commodity Futures Trading Commission (CFTC) charted a new course for its policies toward digital asset regulation. It is a dramatic change that puts the regulator in a new alignment with the Trump administration, the U.S. Department of Justice,… Read More >>
UST ETFs Can Be Collateral for Uncleared Swaps
A division of the Commodity Futures Trading Commission staff has issued a clarification that will allow shares of certain U.S. Treasury exchange-traded funds (ETFs) to be treated as redeemable securities in a pooled investment fund and thus eligible as margin collateral for certain uncleared swap transactions. The clarification allows these instruments to qualify as eligible… Read More >>
SEC Publishes Buy-Side Data & Analysis Reports
The U.S. Securities and Exchange Commission (SEC) has released two new reports offering a more detailed view into the operations of registered investment managers and money market funds. The reports are part of the SEC’s Division of Investment Management’s ongoing efforts to increase transparency and share data about the combined $49 trillion industry. The Annual… Read More >>
Amundi Taps Murex for OTC Derivatives Upgrade
Amundi Technology has expanded its partnership with trading software vendor Murex to strengthen its over-the-counter (OTC) derivatives offering. The providers first partnered in 2007, but the latest agreement reflects growing demand from asset managers for more advanced OTC tools to support complex strategies and adapt to shifting market conditions, officials say. Amundi already uses Murex’s… Read More >>
E.U.’s T+1 Leader Faces Quirks & Fragmentation
The European Union’s transition to T+1 settlement hasn’t been keeping Giovanni Sabatini up at night yet. However, potential technical complexities that could derail the process are top of mind for the man tasked with shepherding all 27 E.U. member states across the finish line by October 11, 2027. Sabatini was recently elected to lead of the Industry… Read More >>
Revamped & Rebranded ‘Vistra Fund Solutions’ Launches
Vistra, a provider of business services for funds, has launched Vistra Fund Solutions, a global offering derived from Vistra’s acquisition of the fund administration and transfer agent business of Phoenix American Financial Services, Inc. last year, officials say. “We have reorganized our service delivery to embed a client-centric service culture that is underpinned by a… Read More >>
SS&C to Open an Office in Saudi Arabia
SS&C Technologies is opening an office in Riyadh, the capital of Saudi Arabia, that will be headed by Issa Jadon, director, strategic accounts, who will help the post-trade systems and services provider develop its working relationship with the Capital Markets Authority and the Saudi Arabian Monetary Agency, officials say. The move into the financial hub… Read More >>
Wall Street Bonuses Show ‘Significant Bump’ for 2024
Wall Street bonuses for 2024 are estimated to hit $244,700, an increase of almost one-third — 31.5 percent — over bonuses for 2023, marking the first “significant bump” since 2021, according to the annual review compiled by New York State Comptroller Thomas P. DiNapoli. However, this bonus bounce may not be repeated next year as… Read More >>
Archax Acquires Globacap Private Markets
Archax, a digital and traditional asset exchange, broker, and custodian, is extending its reach into U.S. markets with the acquisition of Globacap Private Markets Inc., a broker-dealer and alternative trading system (ATS) that will be renamed Archax Markets U.S., officials say. “The acquisition of Globacap PMI in the U.S. builds on the strong partnership we… Read More >>
