Custodian giant Bank of New York Mellon has agreed to pay more than $54 million to settle charges via the SEC that engaged in the “improper handling of ‘pre-released’ American Depositary Receipts (ADRs).” As the SEC notes, ADRs are “U.S. securities that represent foreign shares of a foreign company” that “require a corresponding number of… Read More >>
FTF Awards Q&A: Why Eagle is a Cloud Pioneer
(Editor’s note: Eagle Investment Systems has won many awards over the years via the 2018 FTF Technology Innovation Awards. This year it was voted Best Cloud Computing Solution for its Eagle ACCESS private cloud system. FTF News got time with Mike Fitzgerald, the chief information officer at Eagle, to delve into why the company chose… Read More >>
BNY Mellon Deploys FundBlast Digital Communications Platform
BNY Mellon has implemented a digital communications platform, FundBlast from back-office solutions vendor Delta Data, that targets asset managers by helping them to communicate mutual fund events such as product setup, distributions, load schedule changes, fund liquidations and mergers, to their service providers and distributors. FundBlast is intended to meet the data management and operational… Read More >>
BNY Mellon Integrates the Former Albridge Analytics
BNY Mellon Weaves Intermediary Analytics into Asset Servicing BNY Mellon, a provider of investment management and investment services, reports an expansion of its Intermediary Analytics solutions suite, formerly Albridge Analytics. “The integration of Intermediary Analytics into BNY Mellon’s Asset Servicing business facilitates the creation of new and enhanced distribution solutions intended to help BNY Mellon… Read More >>
Firm Revamps Middle Office to Boost Client Transparency
The Stephens Investment Management Group (SIMG) is migrating to an integrated middle office operations platform from SEI that officials at the firm say will upgrade its services for institutional and high-net-worth “in nearly every way.” The Houston, Texas firm says it specializes in domestic equity investment management, “with a focus on small- and mid-capitalization growth… Read More >>
Duco Completes $28 Million Investment Round
Duco to Expand Global Footprint Duco, the cloud-based reconciliation and data-engineering technology company, reports the completion of a $28 million investment round by Insight Venture Partners, NEX Opportunities and Eight Roads Ventures, as well as an investment by Cristóbal Conde, the former CEO of SunGard. Duco says its financial services technology allows banks, brokers, asset… Read More >>
Thomson Reuters Supports Finastra Innovation Platform
Finastra Reaches Out to FinTech Newcomers Finastra is adding Efficiency MC, Conpend and BankBI to its FusionFabric.cloud open architecture, officials announced at the company’s recent regional thought leadership event, Finastra Universe Paris. The vendor, formed from the combination of Misys and D&H, also announced that Thomson Reuters is joining Finastra’s circle as a data… Read More >>
Broadridge Acquires Summit Financial Disclosure
Broadridge, Summit to Integrate Offerings Broadridge Financial Solutions recently announced that it has acquired Summit Financial Disclosure, a financial document management solutions provider in an effort to provide an end-to-end service. The acquisition will lead to the integration of Summit’s document composition and regulatory filing services with Broadridge’s proxy voting and shareholder communications services, officials… Read More >>
Openlink’s CTO Moves Up to CEO Post
Openlink’s O’Malley Becomes Executive Chairman Openlink, a vendor of trading, treasury and risk management solutions, reports that it has promoted internally to replace John O’Malley, the CEO for the past two years, with Rich Grossi who moves up from his post as chief technology officer (CTO). O’Malley will move into the role of executive chairman… Read More >>
Industry Veteran Mack Gill Tapped to Be Torstone COO
Gill Leaves CEO Post at MillenniumIT Torstone Technology, the London-based provider of post-trade securities and derivatives processing, has appointed industry veteran Mack Gill as chief operating officer (COO) and as a member of the board of directors, company officials report. Gill, who will be based in London, was most recently the CEO of MillenniumIT, a… Read More >>
