Pershing X is Expanding Its Services The Pershing X technology provider and business unit of BNY Mellon reports that it hopes to bring new analytics and data management to clients via a collaboration with Snowflake, a data cloud provider. Pershing X is “expanding its stand-alone data service offerings to wealth management firms” via the Snowflake… Read More >>
UBS Completes Repo Trade via Blockchain & Other News
Banks Use Broadridge DLR Platform UBS and an unnamed Asian bank have “executed the first cross-border intraday repo transaction on Broadridge’s blockchain-enabled Distributed Ledger Repo (DLR) platform,” according to operations, systems, and services provider Broadridge Financial Solutions. The intraday trade “marks the launch of the next phase in the rollout of Broadridge’s DLR platform …… Read More >>
The SEC Wants Electronic Filing for All Forms
Late last month, the SEC put forward amendments intended to “modernize its information collection and analysis methods by, among other things, proposing that a number of filings be submitted to the Commission electronically on EDGAR [the Electronic Data Gathering, Analysis, and Retrieval] system using structured data where appropriate,” according to the regulator’s announcement. Many in… Read More >>
LTX Moves Trading Platform to AWS & Other News
LTX Seeks to Leverage AWS Migration An electronic trading platform for corporate bonds LTX has migrated its platform to Amazon Web Services (AWS) with the intention of helping buy-side investors and dealers leverage the scale of AWS cloud services, officials say. The migration is also intended to help clients better optimize data science processes that… Read More >>
BNY Mellon Jolts Its Climate Strategy & Other News
BNY Mellon Taps Arjuna Capital Officials at the Bank of New York Mellon Corp. (BNY Mellon) say they are hoping to accelerate their climate strategy efforts via a collaboration with a sustainable investment management firm Arjuna Capital, which helps investors and institutions invest their assets according to environmental, social, and governance (ESG) concerns. “BNY Mellon… Read More >>
Stock Markets Lost $25 Trillion in 2022: Report
Many observers have noted that last year was not a banner year for stock markets and a global industry group for exchanges and central clearing counterparties has backed up that point of view via a new report showing that “$25 trillion was wiped off global stock markets in 2022.” The new report from the London-based… Read More >>
DTCC Solution Targets LIBOR-to-SOFR Transition
Post-trade infrastructure provider Depository Trust & Clearing Corp. (DTCC) has launched the LIBOR Benchmark Replacement Index Solution to help firms make the transition from the corrupted London Interbank Offered Rate benchmark to the Secured Offered Financing Rate (SOFR) and other replacement rate indices by June 30, 2023. The new offering is available now via DTCC’s… Read More >>
SEC Pushes New Cybersecurity Risk Mitigation
The United States Securities and Exchange Commission (SEC) proposes to address cybersecurity risks to the financial services sector. Seems like a pretty good idea, doesn’t it? Maybe even overdue, given what we know about the intentions and actions of countries like Russia and China. The new cybersecurity rules would apply to “broker-dealers, the Municipal Securities… Read More >>
Voting Begins in the FTF Awards Competition!
We are pleased to announce that voting has begun for the nominees of the FTF News Technology Innovation Awards 2023, a competition overseen by Financial Technologies Forum (FTF) and the news service. Industry participants pick the winners. Voting began on March 20 when we officially unveiled the nominees and will end on April 28. We… Read More >>
UBS to Acquire Credit Suisse via Rescue Plan
In a stunning move, UBS announced on Sunday, March 19, that it will acquire for more than $3 billion the ailing Credit Suisse Group, making it part of UBS. Bank and Swiss authorities further outlined a rescue plan that will combine the former rivals into “a business with more than USD 5 trillion in total… Read More >>
