The Toronto Stock Exchange (TXS) is taking on the operational and cost inefficiencies in the processing of mutual fund transactions via the launch of TSX NAVex for Canadian market participants, namely dealers and mutual fund manufacturers. The TXS NAVex is an attempt to provide automation for mutual fund processing, which is mostly manual now, says… Read More >>
ABN AMRO Clearing to Use Fidessa Execution Services
A clearing and financing services provider ABN AMRO Clearing (AAC) is working with trading systems vendor Fidessa to offer managed, cross-asset execution services to AAC clients via a new deal between them. The new link would provide AAC clients with low-latency access to more than 110 futures, options, equities and foreign exchange (FX) markets globally,… Read More >>
Blockchain for Clearing and Settlement to Be Gradual: Report
The emergence of blockchain/distributed ledger technology (DLT) could led to “a new global clearing and settlement infrastructure” for domains that are “currently poorly served by existing infrastructure or facing poor value for money,” according to a new report from GBST, a securities transaction and fund administration software vendor. However, it’s likely to be a gradual… Read More >>
Blockchain’s Great Promise Faces Great Hurdles
The distributed ledger, or blockchain, as today’s hot financial services technology is also known, may lead to an Internet of Value. But first, important issues have to be resolved. So says Lael Brainard, one of the Federal Reserve’s seven governors. In a recent speech entitled “The Use of Distributed Ledger Technologies in Payment, Clearing, and… Read More >>
Calypso Technology Agrees to Buyout
Calypso Technology is going down the private equity route and the cash infusion will help the trading and risk management systems vendor grow its investor base and take its offerings to the next level for demanding customers, officials say. European private equity fund Bridgepoint and global growth equity investor Summit Partners announced that they are… Read More >>
CloudMargin Sharpens Collateral Optimization Capabilities
CloudMargin, a provider of web-based collateral and margin management services, reports that it has improved its collateral optimization capabilities to better serve the clearing needs of securities firms. The enhanced optimization combines CloudMargin’s capabilities to source inventory “on a client’s behalf direct from custodians via CloudMargin’s own SWIFT membership,” vendor officials say. Cloud-based collateral management… Read More >>
DTCC & Digital Asset Launch Distributed Ledger Project for Repos
The DTCC, the industry post-trade utility and related services provider, and fintech startup Digital Asset Holdings are developing a solution based on distributed ledger technology, intended to help firms better manage the clearing and settlement of U.S. Treasury, agency, and agency mortgage-backed repurchase agreement (repo) transactions. The effort should yield a central counterparty process that… Read More >>
Blockchain Is Old News for European Markets
Blockchain may be creating the most buzz in financial services circles today but it has been quietly making a noise in Europe for the past 20 years. London-based consultancy Z/Yen created one of the first prototypes — a decentralized electronic ledger — for a client who wanted a shared database to provide an indelible and… Read More >>
AcadiaSoft Unveils Central Margining Hub for Derivatives
Norwell, Mass.-based AcadiaSoft, Inc. reports that it has begun industry testing of its Collateral Hub, which it characterizes as the “first ever Central Margining service for non-cleared OTC [over-the-counter] derivatives.” Twenty-eight major banks are participating in the test of the electronic-margin-management system, AcadiaSoft says, noting that its “new service will facilitate industry compliance with impending… Read More >>
CFTC, EU Finally Agree on a Clearing Deal
After three years of often bitter political squabbling, the European Commission and its U.S. counterpart the commodities regulator CFTC finally reached an agreement on a common approach to equivalent recognition of central clearing counterparties (CCPs). The two sides, which oversee around 90 percent of the $553 trillion derivatives market, have been at loggerheads over mutual… Read More >>
