The London Stock Exchange Group (LSEG) has acquired Acadia, maker of margin calculation and risk mitigation offerings, in a bid to expand the LSEG’s post-trade wares for the uncleared derivatives transaction space, officials say. Acadia offers risk management, margining, and collateral services to help securities firms navigate uncleared, over-the-counter (OTC) derivatives markets. Acadia offers product… Read More >>
Danske Bank Pays $2B to Settle Fraud Charges
The Securities and Exchange Commission (SEC) reports that it has filed charges of fraud against Danske Bank, a multinational financial services corporation with headquarters in Copenhagen, Denmark, “for misleading investors about its anti-money laundering (AML) compliance program in its Estonian branch and failing to disclose the risks posed by the program’s significant deficiencies.” Danske Bank… Read More >>
Turkish Bank Goes Live with Murex System & Other News
Anadolubank Deploys MXGO Solution Turkish bank Anadolubank has gone live with a treasury and trading platform from vendor Murex to build a front-to-middle-office platform across multiple asset classes including FX, FXD, money markets, fixed income, interest rate differential (IRD) and SecFin that will help the bank expand its treasury and capital markets businesses. Anadolubank is… Read More >>
Time to Pause the Crypto Craziness?
To say the least, the FTX fiasco is a wake-up call. To recap, FTX founder Samuel Bankman-Fried is in a little trouble with the U.S. Justice Department, the SEC, the CFTC, and authorities of the Royal Bahamas government for his now-bankrupt crypto-currency exchange FTX and all its branches. As of Tuesday, Dec. 13, during Bankman-Fried’s… Read More >>
Neuberger Berman to Use Fund Recs Platform & Other News
Neuberger Berman to Use Velocity for EMIR Reconciliation Neuberger Berman, a New York-based, private, employee-owned investment management firm, will be using a platform from cloud-based reconciliation software vendor Fund Recs for trade reconciliation via the European Market Infrastructure Regulation (EMIR) guidelines. The firm, which oversees $418 billion in client assets, will use the Fund… Read More >>
BNY Mellon & Baton Bring DLT to Collateral & Other News
BNY Mellon & Baton Systems Form Partnership Distributed ledger technology (DLT) is at the heart of a new post-trade, collateral management collaboration between BNY Mellon and Baton Systems. The joint offering links Baton’s central clearing counterparty (CCP) network with BNY Mellon’s Enterprise Continuous Portfolio Optimization (ECPO) service in an effort to help mutual clients improve… Read More >>
IPC & BXS Partner to Combine Order Analysis & Reporting
Regulatory reporting provider BXS and communications and market connectivity vendor IPC Systems have extended a partnership to target buy- and sell-side firms that want a single solution for routing, executing, and reporting orders across asset classes including crypto markets, officials say. The partnership offers securities firms links between the BXS Trade Surveillance Solution and IPC’s… Read More >>
DOL Updates ERISA Rules for ESG Investing
The U.S. Department of Labor is hoping that it is providing clarity for Employee Retirement Income Security Act (ERISA) plan fiduciaries that want to make investments based upon environmental, social and governance (ESG) concerns. On November 22, Labor Department officials released a final rule “by clarifying that fiduciaries may consider climate change and other environmental,… Read More >>
A CBDC for the U.S. Could Transform Ops: DTCC
A Central Bank Digital Currency (CBDC) for the U.S. could work within a settlement infrastructure based upon distributed ledger technology (DLT), but this potential overhaul of a key post-trade operation needs more exploration and the cooperation of the Federal Reserve in order to work, according to the findings of the Depository Trust & Clearing Corp…. Read More >>
S&P Settles Conflict of Interest Case for $2.5M
While gnawing on that leftover drumstick, you might want to consider whether or not your holiday turkey was glazed with a “calculation error.” The Securities and Exchange Commission (SEC) has charged S&P Global Ratings (SPGR), a “nationally recognized statistical rating organization (NRSRO) registered with the Commission, with violating conflict of interest rules designed to prevent… Read More >>
