Proprietary derivatives trading firm WH Trading is using a single provider, QuantHouse, for low latency access to U.S., European and Asian financial markets and links to multiple data sources in an effort to cut costs and facilitate fast, onsite connections to key exchanges and trading venues. The Chicago-based firm is using QuantHouse’s QuantLINK order-routing and… Read More >>
Ops Staff May Sit Side-by-Side with AI
(A principal within EY’s Financial Services advisory practice, George Kaczmarskyj leads the robotics and intelligent automation for financial services in the Americas. For the past 25 years, Kaczmarskyj has worked with financial institutions and other industry clients in their robotics, process improvement and information management and analytics needs, officials say. He has led client engagements… Read More >>
Fidessa Picks ION Bid Over Temenos & SS&C Overtures
ION Capital U.K. Ltd., which is indirectly and wholly owned by ION Investment Group Ltd., has won a key round in the battle to buy Fidessa as its $2.3 billion (£1.5 billion) bid has gotten the approval of the Fidessa board, besting a bid from Temenos. “The boards of ION and Fidessa are pleased to… Read More >>
CME Group to Buy NEX Group for $5.5 Billion
Derivatives exchange operator CME Group Inc. is set to acquire NEX Group plc for an estimated $5.5 billion and, if all goes well, the combined provider of transaction processing across futures, cash and over-the-counter (OTC) instruments will be able to offer many post-trade capabilities beyond clearing services. The CME Group encompasses: CME Clearing; the Chicago… Read More >>
Elixirr & Kaizen Partner to Fix Reporting Errors
Management consultant Elixirr and regulatory support vendor Kaizen Reporting are partnering to provide financial services firms with comprehensive remediation capabilities to identify reporting problems, fix the root causes of them, and then resubmit the correct data. Both companies are combining their offerings to facilitate end-to-end support to help securities trading firms tackle a growing list… Read More >>
Duco Launches Hybrid Cube & Creates Services Division
Post-trade solutions vendor Duco is moving into its next chapter with the launch of a hybrid, Software-as-a-Service (SaaS) version of its flagship Duco Cube offering, and the creation of a global services division with its own new vice president. The new hybrid SaaS version of Duco Cube was created to target global banks that want… Read More >>
SS&C Buys North American Branch of CACEIS
Investment solutions and services giant SS&C Technologies Holdings, Inc. is acquiring CACEIS North America, the fund administration business of CACEIS, for an undisclosed amount and will be folding the business and staff into SS&C GlobeOp’s alternatives business. The parent company, CACEIS, describes itself as a Paris-based asset servicing group of Crédit Agricole bank, “providing execution,… Read More >>
Voya Settles SEC’s Conflict of Interest Charges
Voya Holdings Inc. has settled with the SEC over charges that two investment adviser subsidiaries did not disclose conflicts of interest and made misleading disclosures “in connection with their practice of recalling securities on loan so their affiliates could receive tax benefits,” SEC officials say. The Voya adviser affiliates have agreed to be censured and… Read More >>
ABN Amro Embraces New Reporting Architecture
Dutch banking giant ABN Amro is embarking upon a major transformation of its finance, risk and regulatory reporting operations via the Finance and Risk Architecture Alignment Initiative (FRAAI), and it’s reaching out to vendors Wolters Kluwer and SAS to be part of the project. Prior to FRAAI, the bank used a variety of undisclosed technology… Read More >>
Firm Revamps Middle Office to Boost Client Transparency
The Stephens Investment Management Group (SIMG) is migrating to an integrated middle office operations platform from SEI that officials at the firm say will upgrade its services for institutional and high-net-worth “in nearly every way.” The Houston, Texas firm says it specializes in domestic equity investment management, “with a focus on small- and mid-capitalization growth… Read More >>
