BNY Mellon has appointed Douglas Shulman as a senior executive vice president and global head of Client Service Delivery (CSD), joining the firm’s executive committee in the process, officials say. BNY Mellon has also appointed Dan Kramer as executive vice president of CSD, where he’ll direct and oversee the CSD strategy and execution for BNY… Read More >>
Chris Pickles Leads FIGI Push in Europe
Independent financial technology consultant Chris Pickles is leading a campaign in Europe to make the Financial Instrument Global Identifier (FIGI), originally from market data and news giant Bloomberg an industry standard. Pickles, who is based in the U.K., confirms that he is leading the effort to make the instrument identifier, once known as the Bloomberg… Read More >>
Time for Ops Resolutions for 2015?
The New Year brings opportunities to take on post-trade securities operations challenges or at least take the time to review the progress your firm has made in its trajectory to operational efficiency. It’s also a chance to make resolutions that will guide the firm throughout the year. To help firms craft a list of Ops… Read More >>
CFTC Wins $1.2B in Restitution for M.F. Global Clients
On Christmas Eve, the CFTC is bringing good tidings to those clients left in the lurch by the bankruptcy of MF Global Holdings Ltd. (MFGH). The regulator via the federal court in New York is ordering MFGH to pay $1.212 billion in restitution for the unlawful use of customer funds and to pay a $100… Read More >>
Deutsche Bank FCM Settles with CFTC for $3M
The CFTC is ordering Deutsche Bank Securities (DBSI), a New York-based futures commission merchant (FCM), to pay $3 million to settle charges of improper investment of customer segregated funds, reporting and recordkeeping violations, and supervision failures. CFTC officials say they acknowledge the FCM’s “cooperation and corrective action” after deficiencies were discovered. A spokesperson for the… Read More >>
Ops Story of the Year: The Return of the T+2 Push
It’s been a dynamic year when straight through processing (STP) and the push for T+2 settlement cycles made big comebacks while disturbing layoffs and ongoing fines and penalties appeared to be on the rise. We at FTF News have compiled the following list of the top Ops stories, trends, new currents and online video coverage… Read More >>
State Street Names New President-COO
Custodian bank and services provider State Street Corp. has promoted Michael F. Rogers to be its new president and chief operating officer (COO), officials say. Rogers has been a member of the management committee, the senior strategy and policy-making group since 2010. An industry veteran, Rogers has more than 30 years of experience overseeing asset… Read More >>
Advent Upgrades Products via Partners, User Input
Investment management systems and services vendor Advent Software has updated key offerings of its product suite, providing integration with other vendors’ offerings and incorporating ideas and even software from its user community, reports Robert Roley, vice president, solutions for Advent. The integration with other third-party vendors helps Advent provide more complete solutions that are implemented… Read More >>
Xenomorph’s TimeScape to Support Python Language
Xenomorph, the analytics and data management vendor, has integrated the Python open source scripting language into its TimeScape cross-asset data management platform. The Python programming language is cross-platform, easy to use and highly readable, say Xenomorph officials. It offers object-oriented scripting, which has made it attractive for use with cutting-edge applications developed at Carnegie Mellon… Read More >>
DTCC’s GTR Launches in Canada
Post-trade services provider DTCC has taken another step toward its goal of establishing an industry-wide repository for over-the-counter (OTC) derivatives via the launch of its Global Trade Repository (GTR) in Canada, which will target buy-side firms when they begin reporting next year. The Ontario Securities Commission, the Autorité des Marchés Financiers in Québec and the… Read More >>
