(Correspondent clearing provider RQD* Clearing (RQD) recently announced that it is broadening its partnership with broker-dealer TradingBlock to cover clearing and execution for the firm’s active and retail trading lines. In addition, RQD and TradingBlock are collaborating on TradingBlock’s forthcoming retail trading platform. TradingBlock, whose clients include proprietary traders and small hedge funds, was among… Read More >>
Black Diamond Upgrades Links to Schwab’s Custodial Platform
SS&C Advent’s Black Diamond Wealth Platform is offering more digital access to the Schwab Advisor Center custodial platform via IT integration links that help end-users eliminate paper-based processes, save time, improve accuracy, and move faster toward digitizing their workflows, officials say. Schwab and SS&C’s Advent have been serving mutual clients “for more than 30 years,”… Read More >>
Duco & Murex Announce Collaboration
Murex & Duco to Offer End-To-End Recs Solution Duco, a provider of self-service reconciliation services, and Murex, a provider of trading, risk and processing processes for treasury and capital markets, report that they will jointly provide clients with a “comprehensive data reconciliation solution enabling improved automation and straight through processing across a range of asset… Read More >>
Loyalty Erodes As Buy Side Rethinks Broker-Dealers
Market research firm Greenwich Associates has found that behind “a remarkably stable” ranking of the top broker-dealers serving the buy side, it is wrong to assume that blind loyalty is ruling the day. In fact, in a new report, “Customer Retention in an Age of Electronic Trading,” the researchers found that “beneath the surface buy-side… Read More >>
Disruptors to Empower the Buy Side: CRD CEO
John Plansky, the new CEO of vendor Charles River Development (CRD), says that a convergence of disruptors is driving industry change and is shifting power from the sell side to the buy side — one of the related subjects he will be focus on during his keynote address at the 25th Annual Securities Operations Summit… Read More >>
MEMX Picks Instinet Veteran to Be Its CEO
The Members Exchange’s (MEMX), a proposed challenger to incumbent exchange companies, has chosen industry veteran Jonathan Kellner to be its new CEO. Kellner’s resume includes his four years as CEO of agency-only broker Instinet. In 2014, Kellner was promoted to the post of CEO of Instinet, the equity trading arm of parent company Nomura Group,… Read More >>
Temenos Offers NAV Oversight via Bloomberg Terminal
Temenos Collaborates with Bloomberg Banking software vendor Temenos is collaborating with Bloomberg to deliver contingency Net Asset Value (NAV) calculations to buy-side institutions via the Bloomberg terminal. Temenos is making its Multifonds Global Accounting product accessible via the Bloomberg Terminal, so that it will operates with data, analytics, and other investment workflow services from Bloomberg,… Read More >>
CAPIS Acquires FinTech Securities from Innovest
Capital Institutional Services, Inc. (CAPIS), an institutional securities broker/dealer, has completed its acquisition of Financial Technology Securities in a bid to strengthen CAPIS’s present in the bank and trust services space. The acquisition of FinTech Securities from Innovest Systems took effect Jan. 2, 2019, making the Atlanta, Ga.-based broker/dealer a fully-owned subsidiary of CAPIS, officials… Read More >>
CAT Moves Closer to Becoming a Reality
The Consolidated Audit Trail (CAT) is approaching a milestone on Nov. 15 as major self-regulatory organizations (SROs) and exchanges are slated to start sending quote, order, trade and related information to the CAT central repository as specified under the National Market System Plan Governing the Consolidated Audit Plan (CAT NMS Plan). As many will recall,… Read More >>
Credit Suisse Settles RES Charges with SEC & NYAG
The SEC reports that Credit Suisse Securities (USA) LLC will pay $10 million to settle charges, brought collaboratively by the SEC and the Office of the New York Attorney General (NYAG), alleging “material misrepresentations and omissions made in connection with its now-closed Retail Execution Services (RES) business’ handling of certain customer orders.” “Credit Suisse’s RES… Read More >>
