Electra Information Systems, a provider of reconciliation and other post-trade services, is adding data centers and staff to improve its global infrastructure for operations processing that supports a growing number of clients across the United Kingdom (U.K.), Europe, and the Asia-Pacific regions, officials tell FTF News. In particular, Electra has added data centers in Sydney,… Read More >>
Northern Trust Launches Holistic Consulting for Op Risk
When the pandemic compelled Ops staffs to work remotely, it’s likely that many firms got new perspectives on the operational risks plaguing their front, middle, and back offices. Custodian and service provider Northern Trust is hoping that its new take on the matter — its bespoke Operational Risk Consulting service — will help firms bolster… Read More >>
NYDFS Issues Cyber Alert About Microsoft Exchange
Hackers Are Exploiting Microsoft Exchange Weaknesses Following media reports of cybersecurity vulnerabilities via the popular Microsoft Exchange Server, the New York State Department of Financial Services (NYDFS) has issued a letter to the financial services industry that “urges all regulated entities with vulnerable Microsoft Exchange services to act immediately.” The letter from the Cybersecurity… Read More >>
NICE Actimize Targets All Trading Floor Communication
Much of the communication happening in securities and commodities trading rooms has to be recorded for regulatory compliance purposes, and NICE Actimize has launched a solution that captures traditional, unified, and mobile channels via a single, cloud-based platform. The vendor says that the new NTR-X extends the capabilities of the NICE Trading Recording (NTR) compliance… Read More >>
FTF’s SecOps Online Takes Off!
The pandemic-induced lockdown has challenged all of us to alter our plans and create new ways of doing business. For FTF, we are evolving and inventing new ways to serve and grow our network of securities professionals that we have developed over the past 14 years. The good news is that we are trying something… Read More >>
Morgan Stanley Buys Eaton Vance & E*TRADE
Amid a lot of conflicting news stories, Morgan Stanley recently announced that it wants to acquire the wealth and investment management firm, Eaton Vance Corp., and that it closed its acquisition of online, discount brokerage E*TRADE Financial Corp. — signs that Morgan Stanley and other Wall Street giants are trending toward safer waters than the… 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 >>
EBS’s EMS to Link to IHS Markit’s thinkFolio
EBSI Connectivity Slated for Q4 EBS, a provider of electronic trading platforms and IT for foreign exchange markets, will be offering connectivity between the EBS Institutional (EBSI) execution management system (EMS) and thinkFolio, a multi-asset investment management platform from vendor IHS Markit, vendor officials say. The new service is slated to be available during the… Read More >>
Citi, JPMorgan & State Street Invest $11M in Capitolis
Capitolis to Speed Up Product Development Citi, JPMorgan, and State Street have invested a total of $11 million in fintech startup Capitolis, whose proprietary technology platform helps trading firms streamline their trading-position strategies. A spokesperson for Capitolis confirms media reports that the funding from the trio is $11 million in total. The spokesperson declines to… Read More >>
Supervisory Failures Alleged in Wells Fargo Annuity Switches
The Financial Industry Regulatory Authority reports that Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, two units of the San Francisco-based, multinational financial services company, will pay more than $2 million on charges of “supervisory violations related to variable annuity switches.” The Wells Fargo units will pay an additional $1.4 million… Read More >>
