Financial Technologies Forum (FTF) has launched the nomination process for the 2024 FTF News Technology Innovation Awards competition, which recognizes the operational excellence of professionals, financial technology vendors, service providers, and industry bodies that had significant achievements in the 2023 calendar year. The winners of the FTF Awards competition are chosen by their peers in… Read More >>
FinTech Brief: ISO & SOC Certify Oxane’s Offerings
Oxane Partners, a solutions provider to private markets, has achieved global information security accreditations by completing Systems and Organizations Control (SOC) audits and the International Organization for Standardization (ISO) 27001 certifications, officials say. “The completion of SOC audits (SOC 1, SOC 2, and SOC 3) emphasize Oxane’s strong controls over financial reporting, and handling of… Read More >>
T+1 Could Expose Ops Woes for Many Firms
The pain, suffering, and costs of doing business in the global securities industry are likely to increase as a result of the push for shorter settlement cycles, which is underway in the U.S. and Canada as firms there transition to trading day plus one, a.k.a. T+1. That was one of the unvarnished takeaways from a… Read More >>
CME & DTCC Ready Cross-Margining Offering & Other News
SEC & CFTC Approve Joint Effort for Treasuries & Futures The SEC and CFTC have approved a new cross-margining arrangement between CME Group and the DTCC that will “permit eligible clearing members of CME and the Government Securities Division (GSD) of DTCC’s Fixed Income Clearing Corp. (FICC) to cross-margin an expanded suite of products,”… Read More >>
T+1 Will Overhaul Securities Lending: Report
A new report from Citi — “Securities Services Evolution 2023” — argues that the move to shorter, T+1 settlement will leave no one in securities operations untouched. However, the report strongly argues that securities lending is in for a rollercoaster ride as securities firms move to T+1. Firms and other market participants will need to… Read More >>
Goldman Sachs Reportedly Hiring for Ops & Other News
Fed Concerns May Be Spurring Hiring Spree Goldman Sachs Group has reportedly been on a hiring spree for back-office operations and its compliance department positions as a result of supervisory issues raised by Federal Reserve officials, according to multiple media reports, including those from Bloomberg and Reuters. The Bloomberg report noted that the firm intends… Read More >>
Wedbush Pays $16M to Resolve Recordkeeping Problems
Accusations don’t equal proof of guilt. Lawyers for a certain much-indicted ex-president will tell you that. However, multiple accusations by credible accusers aren’t a particularly good look, whether for a politician or a registered futures commission merchant. Which brings us to Wedbush Securities. The Commodity Futures Trading Commission (CFTC) recently ordered Los Angeles-based Wedbush Securities… Read More >>
Crystal Capital Partners to Deploy SS&C Systems & Other News
Crystal Capital to Bolster Ops via SS&C Systems Crystal Capital Partners, an alternative investment platform provider, reports that it has selected the Geneva and Advent systems from SS&C Technologies to “streamline portfolio management and reporting across more than 500 customized portfolios and support further growth,” officials say. “Our integration with SS&C will help streamline the… Read More >>
Adopt a Single Strategy & Functional Approach for T+1: Q&A
(Stephane Ritz, a managing principal at consultancy Capco, has more than two decades of experience in the administration and management of professional services for the banking, finance, and investment industries. His areas of expertise include financial accounting and taxation to business process re-engineering and IT technology implementation. Ritz specializes in leading large-scale, complex business transformations across… Read More >>
FTF Unveils Winners of the 2023 FTF Awards
With nods to established players and voter enthusiasm for other providers hitting their stride, Financial Technologies Forum (FTF) has unveiled the winners of the 2023 FTF News Technology Innovation Awards competition. The 30 winners of the FTF Awards competition — now in its 12th year — are being honored for achievements during 2022. “It’s not… Read More >>
