FundGuard, an investment accounting platform provider founded in 2018, has just raised $100 million via Series C funding — generally for late-stage startups — because the company is the first of its kind in 25 years to advance securities operations, company officials say. FundGard will be using the cash infusion to hasten the development of… Read More >>
Clearstream Taps Intix to Bolster Data Management
Deutsche Börse Group’s post-trade services company Clearstream is working with data solutions provider Intix in an effort to meet regulatory and customer demands for better access and management of financial messaging data, officials say. Intix is a transaction data management platform that helps financial services firms “monitor, comply, manage risk, and detect fraud in every… Read More >>
Time to Step Up Your T+1 Game?
Another T+1 readiness survey has highlighted a persistent lack of preparedness among buy-side firms as the summer deadline for the T+1 transition for the U.S., Canada, and Mexico approaches. Despite the Depository Trust and Clearing Corp.’s (DTCC) assurances, recent reports from vendors and banks depict concerning levels of unpreparedness among investment managers. This lack of… Read More >>
Broadridge Embraces SaaS for Futures & Options Platform
Broadridge Financial Solutions has just launched a Software-as-a-Service (SaaS) platform, dubbed Broadridge Futures and Options (F&O), to “transform order and execution management capabilities for sell-side institutions,” according to the post-trade systems and services provider. The new F&O platform, which expands Broadridge’s support for derivatives trading, has been “tailored for futures commission merchants (FCMs) and agency… Read More >>
Survey Finds a Digital Divide for Securities Firms
The securities industry is facing a growing digital divide as securities firms taking a leadership role are outpacing firms that are not, particularly when it comes to developing a strategy for attracting staff with advanced digital skills and talent. This is according to the “2024 Digital Transformation and Next-Gen Tech Study” conducted by Broadridge Financial… Read More >>
FlexTrade Offers Direct Link to Coinbase Prime
FlexTrade Systems, a maker of multi-asset execution and order management systems, is now able to offer a direct integration with Coinbase Prime, an institutional prime broker platform for digital and crypto assets, officials say. Coinbase Prime offers its institutional prime brokerage for crypto assets whose integrated platform supports the entire transaction lifecycle, officials say. Coinbase… Read More >>
CQG Toolkit Helps Predict Futures Market Moves
CQG has unveiled a predictive trading model toolkit that applies machine learning (ML) technology to live data and is intended to help traders better manage strategies and positions. The announcement follows what CQG officials say was a successful, “first-of-its-kind” proof-of-concept (POC) testing effort, and then a reality check in a live-trading environment. In the live… Read More >>
Firms Brace for Expensive T+1 Settlement Failures
The industry is steeling itself for a turbulent period of adjustment with the imminent transition to shortened settlement in the U.S., Mexico, and Canada on May 28, amid analyst forecasts of a quadrupling of settlement failures. A recent Bloomberg Intelligence report has predicted a fourfold increase in settlement failures in T+1, costing a whopping $7.1… Read More >>
BBH’s Infomediary Expands Into Managed Services
Brown Brothers Harriman (BBH) is expanding its Infomediary data integration and connectivity offering into a broader set of data management services, now known as Infomediary Data Solutions. The updated suite of data offerings, part of BBH’s Investor Services division, targets asset managers and financial institutions with a combination of data management technology and managed services,… Read More >>
CACEIS Adds PRIIPs Reporting Service
CACEIS, the asset servicing group of Crédit Agricole and Santander, is adding a reporting service for Packaged Retail Investment and Insurance-Based Products (PRIIPS) via the Connect Store for clients of CACEIS’s private equity real estate solutions business line. PRIIPs “refers to a category of financial assets that are regularly provided to consumers in the European… Read More >>