Northern Trust Hedge Fund Services (NTHFS) has added support for spots, forwards, futures, and physical contracts in energy and physical commodities to its Omnium platform in response to the growing number of asset managers who are trading in global energy markets, officials say. Officials say Omnium is a middle-office and accounting platform that supports an… Read More >>
ASX Sued Over Remarks About CHESS Replacement Effort
The Australian Securities and Investments Commission (ASIC), the securities industry regulator for Australia, is taking exchange operator the Australian Securities Exchange (ASX) to court over allegations that ASX officials made “misleading statements related to its Clearing House Electronic Subregister System (CHESS) replacement project.” The case was filed in the Federal Court of Australia on Aug…. Read More >>
Valverde Taps Broadridge for Investment Management System
Newcomer Valverde Investment Partners, a Singapore-based investment management firm specializing in ASEAN equities, will be using a portfolio/trade order management operations system from Broadridge Financial Solutions, officials say. The investment management solution is delivered on a software as a service (SaaS) basis and “provides a multi-asset platform with integrated order, portfolio, and risk management for… Read More >>
Firms Need to Prepare for Sec Lending Reporting
(Last year, the SEC approved Rule 10c-1a, intended to bring new transparency to securities lending transactions via reporting and dissemination requirements. Earlier this year, the Financial Industry Regulatory Authority (FINRA) proposed a new facility allowing covered securities loan transactions to be reported to the self-regulatory organization (SRO) for U.S. broker-dealers. The proposed system, the Securities… Read More >>
Vistra Bolsters Fund Admin Services via Acquisition
Professional services provider Vistra has completed its acquisition of the fund administration and transfer agency business of Phoenix American Financial Services, Inc., officials say. The acquisition did not include Phoenix American’s aviation services business. “This transaction will expand Vistra’s presence and capabilities in the business-critical U.S. market, allowing it to provide deeper and broader end-to-end… Read More >>
Rathbones Group Deploys Xplan from Iress
The London-based Rathbones Group is live on the Xplan advice software from financial technology provider Iress to support Rathbones’ financial planning business, officials say. Financial services firm Rathbones provides individual wealth management, asset management and related services to private clients, charities, trustees and professional partners, officials say. “Xplan will also be the financial planning platform… Read More >>
FINRA Explores Remote Inspections via Pilot Program
Nearly one-quarter or 22 percent of FINRA member firms have volunteered to participate in a pilot program that would allow them to complete their inspection obligations “without an on-site visit” from a FINRA official, according to the self-regulatory organization (SRO) for U.S. broker-dealers. FINRA notes that 741 firms are participating in the initial pilot, and… Read More >>
Gresham CEO Provides an Update on the Merger
(Gresham Technologies has merged with Alveo, a market data integration and analytics solutions provider, via a transaction led by Alveo’s majority owner private equity firm STG Partners. Before the merger, STG Partners and Alliance Bidco took Gresham Technologies plc private in April via a transaction that valued Gresham at approximately £146.7 million ($190.7 million). The… Read More >>
FIA Updates Best Practices for Credit Risk Mitigation
Post-trade controls, monitoring, and data collection are essential to mitigate the risk involved in the automation of exchange-traded futures, options, and centrally cleared derivatives. With the help of updated best practices, these controls can work well in conjunction with pre-trade controls to prevent credit events or unintended transactions. So says the Futures Industry Association (FIA)… Read More >>
Franklin Templeton to Deploy BlackRock’s Aladdin
Asset manager Franklin Templeton will be deploying the Aladdin platform from BlackRock to unify its investment management IT infrastructures across public market asset classes, officials say. The Aladdin portfolio management software offers investment firms “a way to view and manage daily investments,” according to BlackRock. “Aladdin is a comprehensive technology solution that supports the entire… Read More >>
