The Canadian Depository for Securities Ltd. (CDS) hub for Canada’s depository, clearing, regulatory, and information needs has completed a major transition away from its legacy mainframe systems, provided by Tata Consultancy Services (TCS), to the TCS BaNCS platform, officials say. According to CDS officials, the just-replaced systems, “while reliable for over twenty years,” became “complex… Read More >>
Canada’s Revised Derivatives Reporting Starts in July
Securities regulators in Canada will enforce amended trade reporting rules for derivative transactions starting July 25, 2025. This leaves less than three months for participating firms to prepare for the new regulatory framework. “Key aspects of the final regulation changes include the adoption of additional critical data elements, introduction of collateral reporting requirements, updates to… Read More >>
Canada Life Asset Management Taps Northern Trust
The Canada Life Asset Management (CLAM) group has picked Northern Trust to provide asset servicing solutions because of the provider’s focus on operating model efficiency and on data quality, according to the firm. The new arrangement will see Northern Trust providing middle office outsourcing, global custody, securities lending, fund administration, and depositary services which should… Read More >>
FinTech Brief: BMLL Expands Data Coverage in Canada
BMLL, an independent provider of Level 3 data and analytics, is expanding its data coverage to include more Canadian exchanges, which will operators to better analyze venue performance and liquidity dynamics against local and global peers, officials say. The expansion means that Level 3 data is now available from all major Canadian trading venues and… Read More >>
Canada Puts Crypto-Trading Platforms on Notice
During this winter of discontent and falling values for the crypto world, many are waiting for the regulators in the U.S. and elsewhere to solidify the rules of the road. Industry participants are looking to SEC Chair Gary Gensler, the CFTC, the Fed, U.S. Senators, E.U. agencies, and multinational organizations to coordinate a response or… Read More >>
BNY & Goldman Sachs Test Drive DLT & Other News
BNY & Goldman Sachs Pioneer DLT-Based Securities Financing BNY Mellon and Goldman Sachs have “completed the industry’s first agency securities lending transactions” via the distributed ledger technology (DLT) platform of HQLAᵡ , a financial technology vendor focused on securities finance and repo transactions. “As part of the combined series of 35-day term transactions with a… Read More >>
Canadian Regulator Takes Aim at Crypto-Trading Platform
Canadian financial services regulator, the Toronto-based Ontario Securities Commission (OSC) has officially charged a Seychelles-based firm with running an online digital asset trading platform that is noncompliant with the securities-trading laws of the Canadian province. The allegations could result in millions of dollars in penalties and disgorgements. The OSC is formally charging Aux Cayes Fintech… Read More >>
Pandemic Drives Up Costs for Fighting Financial Crime
The pandemic is surging and, partly because of the coronavirus epidemic, so is the cost of monitoring and reporting financial crime. The graphs and spreadsheets that financial services professionals pore over are bringing the disturbing news. And as one veteran observer of the securities industry puts it, Wall Street doesn’t like what it sees. Just… Read More >>
Broadridge Grows Canadian Business via RPM Purchase
Post-trade systems and services provider Broadridge Financial Solutions, Inc., is bolstering its Canadian wealth management business by acquiring RPM Technologies, a Toronto-based enterprise wealth management software solutions and services vendor, for approximately $300 million from RPM’s owner private equity firm Bayshore Capital Inc. Broadridge reports that it has signed a purchase agreement to acquire RPM’s… Read More >>
Nasdaq Launches Data Centers in Ontario
Nasdaq’s Directors Desk corporate governance offering will be expanding its presence in the Canadian market, with the opening of two new data centers in Ontario, officials say. Nasdaq expects the move will enable it “to more effectively service clients,” according to a company statement. Just like Nasdaq’s servers in the U.S. and Sweden, the Canadian… Read More >>
