UBS & FAB Will Use CLSNet for 120 Currencies UBS and First Abu Dhabi Bank (FAB) report that they have gone live on the CLSNet bilateral payment netting calculation service from FX settlement provider CLS. The CLSNet platform standardizes “post-trade processes across the global currency spectrum,” and is intended to cut risk, enhance efficiency, and… Read More >>
FINRA Eases Compliance via a Machine Readable Rulebook
It’s clear that during the Biden administration U.S. federal regulators and self-regulatory organizations (SROs) have been a little busy formulating new regulations and guidelines. They have also been keeping an eye on how updated technology can help firms meet their compliance obligations. In fact, the SEC recently greenlit a new era of electronic recordkeeping by… Read More >>
Ops Needs to Work More Closely with IT: Q&A
(FTF News recently got time with Emin Tatosian, the co-founder and chief technology officer (CTO) of FX HedgePool, a matching platform for the FX swaps market that launched in 2019. The company, which targets the mid-market execution of FX swaps, says it separates liquidity from credit and helps passive hedgers move liquidity among themselves with… Read More >>
FCA Targets False ESG Labels
Picture it, teatime at London’s Financial Adventurers Club. “I say, chaps,” says one disreputable fellow, “did you see what the Yanks have come up with? ‘Green investing’! ‘Sustainable’! Must be some way to pocket a few shillings peddling that to the punters.” That’s greenwashing, and you can add it to your list of financial scams…. Read More >>
BNY Mellon’s Digital Custody Launches & Other News
BNY Mellon’s Digital Asset Custody Goes Live BNY Mellon reports that its Digital Asset Custody platform has gone live in the U.S. and key clients can “hold and transfer bitcoin and ether,” establishing the custodian’s capability to offer traditional and digital asset servicing. The firm launched an enterprise digital assets unit in 2021 “to develop… Read More >>
Insurers to Ramp Up Investment Management IT: Survey
Asset and liability management, compliance, and market data top global insurers’ lists of planned technology investments, according to a new BlackRock survey. In fact, insurers plan to speed up digital transformation over the next 12 to 24 months as they wrestle with rapidly changing markets, according to the survey. Sixty-five percent of insurers surveyed see… Read More >>
FSB Pushes Global Regulatory Framework for Crypto
The Financial Stability Board (FSB) has published a proposed framework for the international regulation of crypto-asset activities. Elements of the FSB’s proposed framework include “recommendations that promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets and strengthen international cooperation, coordination and information sharing; and revised high-level recommendations for… Read More >>
Online Investment Platform Market to Hit $4.4B: Report
The global online investment platform market size is expected to reach $4.4 billion by 2028, boosted by cryptocurrencies, improvements in online trading technology, and a growing number of online investors with more disposable income, according to a new report. As the number of high-net-worth individuals has risen around the world, so has their interest in… Read More >>
SIBOS Explores a Shared Digital Future
The multiple impacts of digital assets and the digitization of traditional assets got plenty of attention at the first in-person version of the Sibos conference since 2019 that got underway earlier this week in Amsterdam. Put on by the SWIFT cooperative, Sibos 2022 was expecting “nearly 10,000 participants,” according to officials. The conference sessions, which… Read More >>
SS&C Advances Blue Prism & Mainstay Offerings at ‘Deliver’
SS&C Technologies updated many of its mainstay systems and yet advanced key leading-edge offerings at the financial technology provider’s Deliver conference, held in Orlando, Fla., the week of Oct. 3. The event got underway even though Hurricane Ian made a turn toward Orlando prior to the start of the conference. SS&C’s Global Crisis Management (GCM)… Read More >>
