The NYFIX Matching platform is declaring that it is the first post-trade matching system to offer integrated messaging because of a new partnership between NYFIX’s owner Broadridge Financial Solutions and communication systems provider Symphony, officials say. The messaging functions are intended to help asset managers and their executing brokers with “compliance, greater transparency, and streamlined… Read More >>
T+1 Cuts Risks But Pain Points Remain: ISITC
A U.S. securities industry standards group says key issues it raised with regulators prior to the T+1 transition in the U.S., Canada, and Mexico on May 28 last year continue to be pain points for its members. The International Securities Association for Institutional Trade Communication (ISITC) is a nonprofit organization dedicated to promoting the development… Read More >>
Digital Custody Can Be Part of a Unified Strategy
(Many in the securities industry are getting ready to accommodate client demands for digital and crypto-based assets, particularly those working in the back office. One such industry participant is Apex Group, which describes itself as a single-source solution provider for capital raising and advisory services, fund services, management company services, digital banking, depositary, custody, corporate… Read More >>
SEC Quietly Approves Cost Savings for the CAT System
It’s been a while since I wrote about the ambitious and controversial big data, U.S. securities transaction monitoring project known as the Consolidated Audit Trail (CAT), which has been helping regulators FINRA and the Securities and Exchange Commission (SEC) monitor U.S. equity and options markets, exchanges, participants, transactions, and more. CAT issues have receded as… Read More >>
Pemberton Picks Broadridge’s Sentry for Portfolio Management
European private debt manager Pemberton Capital Advisors has selected Ops systems and services provider Broadridge Financial Solutions’ Sentry Private Credit Portfolio Management platform, officials say. The technology is intended to help Pemberton achieve operational efficiencies throughout its portfolio management lifecycle and scale its private debt and collateralized loan obligation (CLO) businesses to meet growing demand,… Read More >>
Wisconsin Pension Agency to Adopt SimCorp’s IBOR
Officials say that the State of Wisconsin Investment Board (SWIB) will be working with investment management solutions provider SimCorp to retire an outsourced investment book of record and bring the IBOR in-house to take advantage of real-time data on its positions and exposures across the organization. Created in 1951, SWIB is an independent state agency overseeing… Read More >>
Neuberger Berman Taps Arcesium for Specialty Finance Ops
Neuberger Berman Specialty Finance (NBSF) will be working with operational and data management technology provider Arcesium to help scale the investment manager’s asset-based financing strategy, officials say. NBSF will be using Arcesium’s Opterra and Aquata operational and data platforms, along with managed services, “to achieve a resilient and sophisticated operating model,” officials say. Arcesium’s platforms… Read More >>
Clearwater Analytics to Acquire Enfusion for $1.5B
Clearwater Analytics, a provider of investment accounting software-as-a-service (SaaS) solutions, is acquiring Enfusion, a SaaS provider to investment managers and hedge funds, for approximately $1.5 billion to combine their respective offerings and build a front-to-back office platform. “The purchase price is $11.25 per share, delivered in an approximately equal mix of cash and stock. Additionally,… Read More >>
U.S.-Based Trading of Eurex Dividend Options Approved
EURO STOXX 50 Index Dividend Options and EURO STOXX Banks Index Dividend Options from European derivatives exchange Eurex can be directly traded from the U.S., underscoring Eurex’s plans to expand globally, officials say. U.S. derivatives regulator the Commodity Futures Trading Commission (CFTC) approved Eurex’s efforts to offer its dividend options directly to participants in the… Read More >>
Pico & BMLL Combine Offerings to Streamline Trading
Pico, a solutions provider for low-latency trading, is partnering with BMLL, a provider of harmonized Level 3, 2, and 1 historical data and analytics, to provide access to real-time and historical data sets simultaneously, officials say. The combination of products and services will provide “a full-suite solution of historical data, backtesting, and live trading environments”… Read More >>
