French banking giant BNP Paribas has added to a solution that it’s using to streamline the allocation of credit for FX transactions between banks — Dynamic Credit from CobaltFX — with the deployment of the CobaltFX Analytics offering, officials say. The newly launched CobaltFX Analytics offering builds on the Dynamic Credit product, which has been… Read More >>
Canada Life Asset Management Taps Northern Trust
The Canada Life Asset Management (CLAM) group has picked Northern Trust to provide asset servicing solutions because of the provider’s focus on operating model efficiency and on data quality, according to the firm. The new arrangement will see Northern Trust providing middle office outsourcing, global custody, securities lending, fund administration, and depositary services which should… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
DTCC & Chainlink Explore Mutual Fund Tokenization
The DTCC and Chainlink have been busy with something they are calling the “Smart NAV pilot,” which was an attempt to apply the digital asset capabilities of both organizations to mutual fund tokenization. (NAV is “net asset value,” or an investment firm’s total assets once all liabilities have been subtracted.) In mid-May, both players went… Read More >>
T+1: No Victory Until Affirmations Reach 100%
As many teams in North America canceled their weekly T+1 transition meetings, Securities and Exchange Commission Chair Gary Gensler has called on the U.K. to trigger its own implementation. Top of the list of lessons to learn from North America’s transition, Gensler said, is setting a date. “Until you do that, it is a lot… Read More >>
GBST & Wipro Take On Legacy IT via Partnership
GBST and global outsourcer Wipro Ltd. have signed a partnership to help firms move off legacy investment IT and ops platforms and possibly toward artificial intelligence (A.I.) technologies, officials say. The deal unites GBST’s scalable wealth management administration platform with Wipro’s IT, business processing, and back-office outsourcing services. The arrangement will consolidate administrative services “through… Read More >>
Tokenized Securities Offer Many Ops Benefits
(The digital overhaul for securities trading and operations is moving quickly to the next chapter facilitated by blockchains, cryptocurrencies, tokenization, and more. To help those working in traditional securities operations, FTF News reached out to Thomas Sullivan, managing director-head of business development for digital assets at Societe Generale. Sullivan agreed to provide explanations on the… Read More >>
FICC Launches Calculator for U.S. Treasury Clearing
The DTCC’s Fixed Income Clearing Corp. (FICC) is launching an interactive, public-facing calculator, dubbed the Capped Contingency Liquidity Facility (CCLF), to help financial services firms comply with SEC requirements to come for expanded U.S. Treasury clearing, officials say. The “novel tool simulates estimated CCLF obligations associated with FICC GSD [Government Securities Division] membership,” officials say…. Read More >>
BNY Mellon Debuts Pershing X Wove Suite & Bundled Offering
The Bank of New York Mellon is moving to bring greater cohesion to key Pershing offerings, which at the same time will open pathways to the custodian bank’s more enterprise-wide offerings. BNY Mellon’s enhancements to the Pershing X Wove platform are in line with the provider’s goal to be the “most connected advisory platform in… Read More >>
LTX Uses GPT for List Trading Function
LTX, a corporate bond trading platform from Broadridge Financial Solutions, has a GenAI-based list trading function that will allow end-users to leverage Generative Pre-training Transformer (GPT) technology to “generate and execute multi-asset class, multi-directional trade lists” via RFQ+, officials say. “In response to clients’ positive engagement with our GenAI-powered app BondGPT and their request for… Read More >>
