BAE Clients Get Access to Kharon’s Analytics Anti-money laundering (AML) solutions provider BAE Systems Applied Intelligence is partnering with Kharon, a research and data analytics vendor to offer BAE customers Kharon’s data and analytics to improve sanctions screening and bolster investigations, officials say. The partnership will enable BAE Systems compliance solution NetReveal to access Kharon… Read More >>
Buy-Side Firms Want Data Science: Survey
Portfolio managers have no reason to fear data science as it cannot really replace what they do. But harnessing data in new ways could give them an unprecedented advantage, according to a survey of 300 asset management firms sponsored by custodian Northern Trust. “The business case for digital automation and the use of investment data… Read More >>
Middle Office Problems Spur Settlement Woes: Survey
Problems in middle-office operations are being blamed for back-office settlement failures, according to the results of a joint survey done by Torstone Technology, a vendor of cloud-based, post-trade services, and GreySpark Partners, a capital markets consultancy. In fact, the survey finds that “60 percent of institutions believe that settlement failures attributed to inadequacies of the… Read More >>
NSCC Automates Collateral Management for ETFs
NSCC Also Adds Support for Fixed Income ETFs National Securities Clearing Corp. (NSCC) officials report that they have launched an automated solution to make the collateral management process for exchange-traded funds (ETFs) more efficient. The changes to this mostly manual process also include new support for fixed income ETF capabilities. “The new NSCC solution fully… Read More >>
CFTC Divisions Push SEFs to Dump LIBOR
CFTC Says Firms Need to Embrace SOFR Soon The CFTC wants participants in derivatives markets and the swap execution facilities (SEFs) to remember that they could face “financial, conduct, litigation, operational, and reputational risks” if they fail to adequately prepare for “a smooth and timely” London Inter-Bank Offered Rate (Libor) transition to the Secured Overnight… Read More >>
DTCC Repository Fined for Alleged Data Breaches
The London-based DTCC Derivatives Repository Plc (DDRL), a suite of post-trade, record-keeping, and reporting services, has been fined by E.U. regulator European Securities and Markets Authority for seven alleged infringements of the European Market Infrastructure Regulation legislation governing data confidentiality, data integrity, and direct and immediate data access. The total fine is €408,000, or approximately… Read More >>
SmartStream & Acadia Target Collateral Interest Payments
SmartStream System to Use Acadia’s Margin Manager Post-trade solutions vendor SmartStream Technologies is partnering with Acadia, the former AcadiaSoft, which changed its name and mission from a collateral management automation provider to an integrated risk management services vendor for derivatives transactions, officials say. The SmartStream TLM Collateral Management solution “will work alongside Acadia’s interest statements… Read More >>
Crypto Undermines SEC’s Mission: Sen. Elizabeth Warren
Sen. Warren Urges SEC to Consider Crypto Regs Wall Street critic U.S. Senator Elizabeth Warren (D-Mass.) is asking Gary Gensler, the chair of the SEC, via a recent letter, to investigate the ways that cryptocurrency exchanges “may be undermining the SEC’s mission” as a regulator of securities trading markets. The letter from Warren, who is… Read More >>
BNY Mellon Buys Milestone to Expand NAV Wares
The Bank of New York Mellon Corp. is acquiring Milestone Group, a fund management technology vendor, so that BNY Mellon can provide its custody banking clients with more digital solutions for net asset value (NAV) support, officials say. The Milestone Group offers the pControl platform for fund and investment automation. The acquisition will help BNY… Read More >>
Broadridge Buys J&J Unit to Bolster RegTech Services
Broadridge Financial Solutions is bolstering its regulatory compliance services for broker-dealers via an acquisition of the cloud-based Execution Compliance and Surveillance Service (ECS) assets of Wall Street consultancy Jordan & Jordan (J&J), officials say. J&J officials describe their ECS offering as a managed service that includes “comprehensive reviews to assess compliance with various aspects of… Read More >>
