Annex Wealth Management reports that it has signed on to use the Revolution Composites solution from Confluence Technologies for composite calculations, to scale its composite reporting just in time to meet regulatory requirements such as the SEC Marketing Rule, officials say. Revolution Composites is “a cloud-based product delivered through our web-based Revolution portal” that processes… Read More >>
Humans Do 60% of Ops Data Processing: Q&A
(Duco describes itself as a no-code data automation company that helps clients consolidate, standardize, and reconcile key data types in Duco’s cloud. Its mission is to dramatically reduce the 60 percent of data processing that happens manually via its Data Automation Platform. FTF News recently spoke with James Maxfield, chief product officer at Duco, about… Read More >>
Voice Surveillance Service Targets Off-Channel Regulatory Woes
Securities firms are on the radar of regulators looking for violations of their usage of off-channel communications and that was part of the impetus for digital communications and recordkeeping provider Global Relay’s creation of a voice-to-text service — Global Relay Transcription —that exploits artificial intelligence technologies, officials say. The SEC has been levying fines and… Read More >>
SEC Green-Lights Half-Penny Stocks
While the world was watching and waiting for the Fed to cut interest rates, the Securities and Exchange Commission (SEC) in a rare, quiet, bipartisan, and unanimous decision adopted “amendments to certain rules under Regulation NMS [National Market System]” that will allow U.S. stock exchanges to have transactions via increments of half a penny —… Read More >>
Axoni Sells Veris Business Unit to LSEG
Axoni, a provider of trade workflow applications and real-time data replication, has sold its Veris business and intellectual property to the London Stock Exchange Group (LSEG), which intends to maximize the business potential of the post-trade platform for equity swaps, officials say. Axoni and LSEG officials are not disclosing the financial terms for the transaction,… Read More >>
Advantage Futures Migrates to ION’s XTP Platform
Advantage Futures, a Chicago-based futures commission merchant (FCM), has migrated to ION’s XTP cleared derivatives trade processing platform to achieve “extensive automation across clearing and settlement workflows,” officials say. “After using the same post-trade technology platform for decades, Advantage Futures sought a flexible, modern solution that could provide extensive automation across clearing and settlement workflows,”… Read More >>
Indus Valley Partners Expands Reach via IntegriDATA Acquisition
With backing from private equity firm PPC Enterprises (PPC), managed services provider Indus Valley Partners (IVP) has acquired IntegriDATA, an alternative investment software solutions provider, and combined their respective cloud platforms, officials say. A specialist middle-market PE firm, PPC is a minority investor in IVP, and the acquisition is intended to position the IVP Group… Read More >>
Is the Price Tag for T+1 Edging Upward?
Earlier this year, Bloomberg Intelligence (BI) estimated that the U.S. transition to T+1 settlement could cost the securities industry more than $31 billion a year, with the move reflecting “profound implications” for both the U.S. and global markets. For now, though, the full impact is still emerging, says Gerard Walsh, who leads Northern Trust‘s global… Read More >>
Events Exchange Kalshi Klear Wins DCO Approval
Kalshi Klear LLC, a regulated exchange and prediction market, is a new derivatives clearing organization (DCO) via an order of registration from the Commodity Futures Trading Commission (CFTC). CFTC officials say Kalshi has demonstrated its ability to comply with the Commodity Exchange Act (CEA) and CFTC regulations that apply to DCOs. Kalshi’s affiliate, KalshiEx LLC,… Read More >>
Get Ready for More Form N-PORT Reporting!
An overhaul is coming for Form N-PORT via amendments recently passed by the Securities and Exchange Commission (SEC). “Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess a fund’s risks,” the SEC explains. “The Form N-PORT amendments will require … generally registered open-end funds, registered closed-end funds,… Read More >>
