Fireblocks Raises a Total of $179 Million Crypto infrastructure provider Fireblocks has raised $133 million in Series C funding with help from the Bank of New York Mellon and SVB Capital, the investment platform of SVB Financial Group, via an effort led by Coatue, Ribbit Capital, and Stripes Group, officials say. With this round of… Read More >>
ICE’s Bitcoin Custody Firm Gets a BitLicense
NYSDFS Approves Bakkt Marketplace The New York State Department of Financial Services (NYSDFS) has approved the application of Bakkt Marketplace, LLC, a wholly owned subsidiary of Bakkt Holdings, LLC, for virtual currency and money transmitter licenses, Financial Services Superintendent Linda A. Lacewell reports. The licenses will allow Bakkt Marketplace, a digital currency trading platform,… Read More >>
Voting Has Begun for the FTF Awards!
It’s awards season for Hollywood and, by the way, for the securities operations industry as FTF has just unveiled the nominees for the 2021 FTF News Technology Innovation Awards. This is the 11th year for the FTF Awards, and our categories and honors have evolved along with the many shifts in financial markets and across… Read More >>
FTF News Launches Live Interviews
At FTF and FTF News, we have a history of trying new ways of providing you with compelling, relevant content about major trends, changes, and innovations in the securities operations industry. We hope you like what we are doing, and we appreciate your support for the news service, which launched 10 years ago! In keeping… Read More >>
FIA to Biden: Derivatives Can Combat Climate Change
After four long years of an administration that routinely dismissed and disparaged environmental issues, the pressing need to combat climate change finally has an ally. That ally is the new president. And in turn, President Biden has an ally in Walt Lukken, the president and chief executive officer of the Futures Industry Association (FIA), who… Read More >>
AcadiaSoft Acquires Quaternion
AcadiaSoft, a back-office collateral management services provider for uncleared derivatives, has acquired Quaternion Risk Management, a front-office, consulting and software provider, laying the groundwork for an integrated, real-time, risk management solution to come, officials say. The transaction will bolster AcadiaSoft’s risk mitigation offerings and is a response to the industry demand for more standardized risk services,… Read More >>
Yellen’s Mission Reaches Beyond the Pandemic
Late last month, Janet L. Yellen was sworn in as the 78th Secretary of the U.S. Department of the Treasury by Kamala D. Harris, the newly inaugurated vice president of the U.S. Yellen and Harris are pioneers and it was a breakthrough amid a great deal of turmoil. But this glass-ceiling shattering moment in history… Read More >>
ATS for Digital Securities Wins Regulatory Approval
Regulated broker-dealer Oasis Pro Markets reports that it has received approval from FINRA and the SEC for its cutting-edge digital security Alternative Trading System (ATS), which allows subscribers to trade digital/blockchain securities, and to make payments for them via digital cash such as Stablecoins. It’s important for Oasis to offer this kind of an ATS… Read More >>
Northern Trust to Cut 500 from Global Staff
Custodian and service provider Northern Trust confirms that it will be shrinking its global workforce by approximately 500 positions, which is less than 2.5 percent of its total staff, due to the impacts of the COVID-19 pandemic and ongoing low interest rates. The staff cuts follow Northern Trust Corp.’s report of a third-quarter net income… Read More >>
Key Regulators Issue USD LIBOR Warning
Authorities: Steer Clear of USD LIBOR Key industry regulators are warning financial services firms not to use U.S. dollar (USD) LIBOR as a reference rate after Dec. 31, 2021 to avoid “consumer protection, litigation, and reputation risks.” The Nov. 30 statement, which underscores the need for firms to move away from the London Inter-bank Offered… Read More >>
