The race for the presidential nomination among the Democrats is taking shape as front runner Hillary Clinton is facing challenges on the left from U.S. Senator Bernie Sanders from Vermont and former Maryland governor Martin O’Malley, particularly on the issue of ripping apart banks that are deemed “too big to fail.” Sanders and O’Malley, in… Read More >>
Celent: ‘FIS/SunGard Could Trigger Peers to Embrace Universal Solutions Model’
Banking and payments technology provider Fidelity National Information Services (FIS) announced this week that it has agreed to acquire financial products and services giant SunGard for $9.1 billion, according to FIS officials. The deal means that SunGard will not be facing an initial public offering (IPO) as some had speculated. The acquisition also means the… Read More >>
Capital Adequacy Rules to Jolt the Markets
The new capital requirements recently finalized by the Federal Reserve could force big banks to withdraw from non-core businesses and impact liquidity, trends that could have unpredictable knock-on effects for buy-side firms and operations teams, industry analysts say. The Fed released its revised capital rules on July 20, under which big banks are required to… Read More >>
Calpers to Sever Ties with Half of External Managers
More than half of the external investment managers currently retained by Calpers could soon find themselves on the chopping block, as the largest public pension fund in the U.S. seeks to cut those relationships down to 100 from the current total of 212, in an attempt to decrease costs and overall risk and complexity. “Calpers… Read More >>
Can Big Data Help Ops with Risk’s New Demands?
Big Data made quite a splash across several industries, but its adoption in the financial services sector has been highly fragmented. Yet it’s becoming clear that Big Data offers some operational advantages as financial services firm adjust to the new regulation-driven regime of risk management, according to a new report by market research firm Celent,… Read More >>
Celent Survey: Asia Pacific Not Ready for T+2
By and large, financial firms in the Asia Pacific region are not yet prepared to follow in Europe’s footsteps as the October 6 mandatory shortening of the settlement cycle from trade plus three days (T+3) to trade plus two days (T+2) goes into effect. That is the gist of a study published by market research… Read More >>
Celent Report Finds CBR Project Costs Rising as Markit Buys thinkFolio
Celent Report Finds CBR Project Costs Rising Firms have found that over the past three years cost basis reporting projects have had bigger price tags because of data quality issues, systems integration challenges and unavoidable manual processes, according to study by market research firm Celent, a division of Oliver Wyman, Inc. The report was funded… Read More >>
Getting Ready for Newly Minted SEFs
The CFTC has today published the final rules for swap execution facilities (SEFs) with the Federal Register, giving swaps dealers and other firms two months to register with the CFTC for approval of their venues for cleared and executed over-the-counter transactions.Most of the new rules will become effective August 5, 2013 and the official compliance… Read More >>
OTC Collateral Reforms to Cost the Industry $53B as Capital Dynamics Details New Fund Management Platform
Celent Report: Price Tag for OTC Collateral Management Reform to Hit $53 Billion As derivatives clearing and collateralization reforms get underway, the financial services industry will spend more than $53 billion in infrastructure and technology investments to make their systems more operationally efficient, according to a new report from market research firm Celent.“We expect it… Read More >>
CBR Rules Hit Home
(Editor’s Note: This is an excerpt from the Summer 2012 printed edition of FTF News, which became available for downloading on July 10.) Tax season for 2012 was especially painful for broker/dealers and their clients as the first wave of the new cost basis reporting (CBR) requirements of the Internal Revenue Service (IRS) took effect… Read More >>
