The U.S. Commodity Futures Trading Commission (CFTC) is seeking “expert industry leaders” to join its new CFTC CEO Innovation Council, which is intended to help the regulator “in shaping responsible regulations that will lay the foundation for America’s Golden Age of Innovation,” says Caroline D. Pham, the acting chairman of the CFTC. Those who wish… Read More >>
FIX Group Wants Reforms for E.U.’s CTP Reporting
An industry association, the FIX Trading Community, wants to increase the “size and attractiveness” of European trading markets via modifications to trading practices and extensions of the Financial Information eXchange (FIX) protocol governing electronic trading, officials say. In a whitepaper, “FIXing Europe: How the European Consolidated Tape can radically improve the image of European capital… Read More >>
A.I.-Based Tool Targets CSD Affirmations for E.U.’s T+1
Central securities depositories (CSDs) affirmation is a crucial part of Europe’s T+1 settlement transition that isn’t being discussed, according to Brussels, Belgium-based financial market infrastructure group Euroclear, connectivity platform Taskize, and post-trade process automation provider Meritsoft. Last month, the European Securities and Markets Authority (ESMA) unveiled a proposal for same-day (trade date) timing for trade… Read More >>
Options Clearing Corp. Deploys AWS Generative AI Offering
Equity derivatives clearing organization, the Options Clearing Corp. (OCC), reports that it has successfully implemented generative artificial intelligence (A.I.) technology from Amazon Web Services (AWS) in a bid to “streamline internal development processes and enhance operational efficiency,” officials say. The deployment of AWS GenAI is yielding improvements in: Code Testing: the implementation has cut time… Read More >>
SSC Expands E.U. Wealth Management Services via Ireland
SS&C Technologies has launched “a significant expansion” of its European wealth management business via SS&C Wealth Services Europe Ltd., a business that has been authorized according to the guidelines of the Markets in Financial Instruments Directive (MiFID). The new business will be based in Dublin and “will focus on helping financial institutions modernize and scale… Read More >>
FCA Hopes ‘Eunice’ Platform Will Aid Crypto Transparency
U.K. regulator, the Financial Conduct Authority (FCA), has added a regulatory technology platform, dubbed Eunice, to its “Regulatory Sandbox” as a way to explore and develop industry-led solutions meant to bring more transparency into England’s crypto markets, officials say. Using Eunice to help build new solutions is intended to “make digital assets safe and more… Read More >>
Rivvit’s ‘Virtual Analyst’ Lets Firms Talk to Data
Rivvit Inc., a data management and reporting solutions provider, now offers a virtual analyst that uses artificial intelligence (A.I.) technologies to help end-users at investment management firms use natural language conversations to interact with data and documents. Rivvit’s virtual assistant is intended to help front, middle, and back-office teams retrieve natural language answers about portfolio… Read More >>
LCH SA & OVHcloud Agree to Collaborate
LSEG officials report that the company’s Paris-based clearing house, LCH SA, is working with cloud provider OVHcloud in an effort to support “enhanced operational resilience, strengthened security, greater scalability and velocity of change” for LCH SA’s services. OVHcloud, also known as OVH Groupe SA, is based in Roubaix, France, and offers public and private cloud… Read More >>
Time to Unify the SEC & CFTC?
Should the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) become a single, unified regulator? It’s not a new question, and recently I have been asking industry veterans if now is a good time to unite the regulators as a way of achieving regulatory efficiencies. But Timothy G. Massad,… Read More >>
Can AML Systems That Use A.I. Avoid Hallucinations?
(David Caruso is vice president of financial crime compliance at WorkFusion, which describes itself as a pioneer in A.I. agents for financial crime compliance. A financial crime risk and compliance industry veteran, Caruso has worked as a former special agent with the U.S. Secret Service and as a builder of AML and sanctions compliance programs… Read More >>
