Data management consultancy 3d innovations (3di) says that its data governance efforts for financial services clients over the past 16 years has led to $1 billion in cost avoidance via global data licensing domains. As executives squeeze IT and operations budgets, better data governance has become a major concern for securities trading firms. The major… Read More >>
Chevy Chase Trust Jumps to FIS Solutions
Chevy Chase Trust, a privately held trust and investment management firm, will be replacing incumbent IT systems with a unified wealth management technology platform and services from FIS, in an effort to provide more personalized services to its clients. The multi-year agreement will provide Chevy Chase Trust with a suite of technology and operations services… Read More >>
U.S. Firms Prepare for Tougher E.U. Privacy Regs
(Editor’s note: The General Data Protection Regulation (GDPR) from the European Union was created to do two major jobs: replace the Data Protection Directive 95/46/EC, and to harmonize data privacy laws across Europe, officials report. The new legislation, when it takes effect May 25, 2018, is intended to “protect and empower” data privacy and “reshape… Read More >>
BNP Paribas USA Pleads Guilty to FX Price-Fixing
Officials of the U.S. Justice Department and BNP Paribas USA Inc. (BNPP USA) have settled a case in which the subsidiary of BNP Paribas is pleading guilty to one count of price-fixing via foreign exchange (FX) markets and has agreed to pay a criminal fine of $90 million. According to documents filed recently with the… Read More >>
Deutsche Börse Group Revamps & Refines Co-Location Network
As part of its co-location network upgrade for 2017, Deutsche Börse Group is using a system from Metamako to bolster the data capture, network monitoring and timestamping to achieve the “full visibility of every packet crossing its networks, especially during traffic bursts,” according to Deutsche Börse officials. The co-location of hardware servers and other equipment… Read More >>
Wedbush Futures Embraces Managed Services for Derivatives Ops
Wedbush Futures, a non-bank, U.S. futures commission merchant (FCM), is embracing the managed services mode of the FIS middle- and back-office software that it’s already using for post-trade processing, a move that the firm hopes will yield operational efficiencies, streamline regulatory compliance and application upgrades, and free up resources for growing the business and servicing… Read More >>
2018 Predictions: Global Markets to Expand Despite Jolts
(Editor’s Note: Predicting what the financial markets, regulators and industry participants will do in 2018 is a challenge as there are so many variables that could undercut prognostications. Yet in a bid to offset chaos, FTF News has put together a round-up of opinions and initiatives from researchers, analysts and executives at the TABB Group,… Read More >>
New Collateral Management Strategies Require New Building Blocks
Post-crisis regulation and competitive market conditions have forever changed the collateral management process for securities trading firms. The push to develop new collateral optimization strategies has often uncovered major problems within a firm’s own systems and processes. Most firms have had to move quickly to revamp their internal systems and craft new collateral management operations… Read More >>
GoldenSource Attempts to Ease Asset Managers’ Data Problems
For its latest offering, GoldenSource is targeting the regulatory reporting and related data woes that are likely to get worse for buy-side firms that have to also source and cleanse financial instrument information and conditions, says Prashant Kumar, senior vice president for the data management vendor. The new GoldenSource Nexus offering is described as “a… Read More >>
Volante Helps Clients Build Customized RegTech Hubs
Volante Technologies has been working with financial services firms on both sides of the Atlantic to help them build preliminary regulatory reporting hubs that are intended to streamline transaction reporting requirements, according to vendor officials. Vendor officials cannot name names but buy- and sell-side firms are working and testing prototypes. The prototype-testing phase is slated… Read More >>
