Firms Automate Margining Tasks The DTCC’s Margin Transit Utility (MTU), an automated margin call service, now has the support of 50 financial services firms that are striving to automate manual systems amid volatile markets, officials say. The MTU service includes connectivity from AcadiaSoft’s Margin Manager and DTCC’s Alert for standing settlement instructions (SSIs), links to… Read More >>
State Street’s Alpha Hits Its Stride: Q&A
(State Street Alpha is a front-to-back office asset servicing platform that the global custodian bank is offering to investment managers, hedge funds, asset owners, and insurers. The front- and middle-office components of Alpha are from the Charles River Investment Management Solution (IMS) platform, a result of State Street Corp.’s $2.6 billion acquisition of Charles River… Read More >>
Sell-Side Firms Are Reviving Key Projects: SmartStream
(Sell-side firms are reviewing and reengaging strategic projects in the wake of a pandemic that caused staff to work remotely, says Jason Ang, program manager, TLM Collateral Management, at SmartStream Technologies. This return to strategic projects amid lockdowns and re-openings means the sell side is re focusing on collateral and its importance for credit risk… Read More >>
Ready for a LIBOR Transition Exam?
To make sure that things are moving along as they should, the SEC’s Office of Compliance Inspections and Examinations (OCIE) quietly released a Risk Alert, “Examination Initiative: LIBOR Transition Preparedness,” on June 18 that reminds people that the OCIE is happy to inspect your firm’s progress. The global push to move away from the London… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
ISITC’s Workaround for SWIFT & Negative Trading Prices
The Derivatives Working Group of ISITC, a securities industry standards group, is helping to spotlight a problem that has gotten lost in the shuffle of a pandemic and sudden recession. Essentially, how do users of the SWIFT financial messaging network process negative trading prices on commodity futures? “The effort was spurred by recent market event… Read More >>
BrokerTec & triResolve Push to Advance Repo Automation
Fixed income electronic trading platform BrokerTec has joined forces with derivatives infrastructure services vendor TriOptima to offer more automation across the mostly manual lifecycle of a repo trade, officials say. The intention is to improve the repo trade workflow, Raf Pritchard, head of triResolve at CME Group, tells FTF News. The triResolve group is part… Read More >>
OpenGamma & IHS Markit Target Margining Rules
OpenGamma & IHS Markit Begin Collaboration OpenGamma, which characterizes itself as a margin optimization provider, reports a new collaboration with IHS Markit, which characterizes itself as a provider of critical securities information, analytics and solutions. The vendors are jointly offering a system for mutual clients looking to reduce the cost of margin management. Their offering… Read More >>
Cboe Postpones Trading Floor Reopening
Cboe Global Markets has postponed the re-opening of its “South Loop” trading floor until Monday, June 15, a week later than previously announced. The reopening of the officially named Cboe Options Exchange (C1) trading floor “was previously scheduled for Monday, June 8, 2020,” according to the latest Cboe statement. “The decision to postpone the reopening… Read More >>
DTCC Tests DLT’s Usage for Post-Trade Ops
Post-trade infrastructure provider the Depository Trust & Clearing Corp. has launched two experiments — dubbed Project Ion and Project Whitney — that are collaborative industry efforts to investigate how distributed ledger technology (DLT) might strengthen post-trade processes such as the elimination of manual processes in the private markets, and new securities settlement via public markets,… Read More >>
