Digital Assets Platform Due Later This Year New school crypto-currency and other digital assets have gotten the blessings of the establishment with the news that BNY Mellon is creating a digital assets unit slated to create a secure infrastructure to facilitate the transfer, safekeeping, and issuance of digital assets. The new Digital Assets unit “will… Read More >>
BNY Mellon & Google Cloud Take On Treasury Settlements
BNY Mellon to Apply Google Cloud Technologies The Bank of New York Mellon (BNY Mellon) will be using Google Cloud technologies to help U.S. Treasury market participants “better predict billions of dollars in daily settlement failures,” officials say. The combined effort is also intended to “generate significant capital and liquidity savings, and unlock operational efficiencies,”… Read More >>
Janus Henderson Moves to Cloud-Based Data Platform
Active asset manager Janus Henderson has begun an implementation of a global, cloud-based, investment data management platform that will eventually yield a consolidated, unified data store. The new cloud-based platform from BNY Mellon, a custodian bank and service provider, is intended help clients centralize and better manage complex investment assets, officials say. A cloud-based solution… Read More >>
Citi Combines Two Wealth Management Groups into One
‘Citi Global Wealth’ Launches Citi officials report that they have spliced together the bank’s Global Consumer Banking (GCB) and the Institutional Clients Group (ICG) and formed a “unified wealth management organization” dubbed Citi Global Wealth, that will yield one streamlined, integrated platform to serve clients ranging from those in affluent segments to ultra-high net worth… Read More >>
Electra Targets Manual Woes in Client Fee Billing
Electra Billing 6.0 Launches Electra Information Systems, a provider of reconciliation and other post-trade processes for the buy side, has launched Electra Billing 6.0, a system for audit and workflow control, designed for client-fee billing. Electra Billing 6.0 is intended to “reduce risk by increasing the accuracy and efficiency of approval workflows throughout vital… Read More >>
Commerzbank Fills CEO Post via Deutsche Bank Hire
Manfred Knof to Replace Martin Zielke at Commerzbank Frankfurt-based Commerzbank has named its next CEO as Manfred Knof who comes from Deutsche Bank where he’s been head of a competing private banking business for Germany. Knof, 55, will oversee the bank’s managing directors, starting January 1 of next year. He will succeed Martin Zielke, the… Read More >>
BNY Mellon Staff to Stay Remote for 2020
BNY Mellon Mum About 2021 Custody bank BNY Mellon is telling its approximately 48,000 staff members across the globe to continue to work remotely for the rest of 2020. “Our top priority remains the health and safety of our employees and our clients,” a BNY Mellon spokesperson tells FTF News. “A majority of our global… Read More >>
Pershing Offers RIAs New Bridge to Alternatives
Pershing’s API Links to CAIS & iCapital Network Clearing and custody services provider BNY Mellon Pershing has just launched enterprise-wide, application programming interface (API) capabilities to two alternative investment sponsors, CAIS and iCapital Network, underscoring Pershing’s efforts to help registered investment advisors (RIAs) connect to the alternative investments space, officials say. CAIS and startup iCapital… Read More >>
LabCFTC Replaces ‘Fintech Forward’ with Virtual Events
‘Empower Innovation 2020’ to Launch in the Fall LabCFTC, the fintech incubator of the Commodity Futures Trading Commission (CFTC), will launch “interactive virtual events throughout the fall,” as a replacement for the 2020 Fintech Forward conference. The in-person conference has been canceled “in light of the COVID-19 (coronavirus) pandemic,” officials say. The three-part series has… Read More >>
OpenGamma & IHS Markit Target Margining Rules
OpenGamma & IHS Markit Begin Collaboration OpenGamma, which characterizes itself as a margin optimization provider, reports a new collaboration with IHS Markit, which characterizes itself as a provider of critical securities information, analytics and solutions. The vendors are jointly offering a system for mutual clients looking to reduce the cost of margin management. Their offering… Read More >>