When it comes to images, records and social media postings available via the Web, most people are worried about insipid selfies, photos that reveal too much, and public documents that may be prove embarrassing. For securities firms, though, the concerns are more profound than drunken postings. They are under pressure by regulators to do a… Read More >>
Some Upsides from the NYSE Trading Halt
As of this posting, the New York Stock Exchange (NYSE) has resumed trading in equities and my heart goes out to those working in operations and IT at affected firms. These Ops foot soldiers will have to reconcile, track, record and reconstruct transactions that were caught short by the three-and-a-half hour systems halt on Wednesday,… Read More >>
ISDA Seeks Bidders for Crowdsourcing SIMM Utility
The International Swaps and Derivatives Association, Inc. (ISDA) reports that it has launched a tender process to select a third-party to build and operate a crowdsourcing utility for the ISDA standard initial margin model (SIMM). The utility is meant to “aggregate and compile risk data,” so that market participants can implement the ISDA SIMM “consistently,” ISDA… Read More >>
BTG Pactual Joins SWIFT’s KYC Registry
SWIFT reports that BTG Pactual, a Latin American financial services firm, has joined the know-your-customer (KYC) registry of the financial messaging cooperative. SWIFT, which provides the communications platform, products and services to connect more than 10,800 banking organizations, securities institutions and corporate customers, calls the KYC registry a “centralized repository that maintains a standardized set… Read More >>
Cetera Picks Broadridge Mobile Platform
Cetera Financial Institutions, a self-clearing broker-dealer, has selected investor communications vendor Broadridge Financial Solutions’ Broadridge Mobile solution to functions as the firm’s primary mobile platform, officials say. The Broadridge Mobile solution will allow the firm to “rapidly deploy a distinctively branded, unified advisor and client experience while leveraging a proven enterprise mobile technology platform,” says… Read More >>
FTF News Q&A: ‘Centralizing Data Lowers Operational Costs’
The post-trade infrastructure services provider DTCC recently launched a set of centralized data provisioning services — DTCC Data Products — that includes an expansion of the DTCC’s support for exchange traded funds (ETFs) and corporate actions, ISO 20022-based data product offerings. The consolidation of DTCC data products and data provisioning is the first phase in… Read More >>
CEO, CFO Exit as Markit Completes Information Mosaic Acquisition
Two executives will be leaving Information Mosaic as Markit completes its acquisition of the corporate actions and post-trade securities processing vendor. “It’s our intention to transition all employees with the exception of Ulrich Kunz, chairman and chief executive officer and Anina Janacek, chief financial officer. Both will be stepping down to resume their consulting roles,”… Read More >>
Former RBC CCO Joins Oyster Consulting
Financial consulting vendor Oyster Consulting has hired Richard T. Chase as the new managing director of its New York office, officials say. Oyster expects Chase’s hire to “continue Oyster’s expansion as a regulatory and compliance leader, enhancing its ability to help broker-dealers, exchanges and investment advisors respond to increasing SEC and FINRA expectations regarding trading… Read More >>
ICAP Names CEO for Post-Trade Services
Interdealer-broker and post-trade IT vendor ICAP has appointed Jenny Knott as its new CEO of post-trade risk and information services, officials say. Knott joins from the African financial services group at Standard Bank Group, where she was CEO of Standard Bank Plc and CIB International, and most recently served as strategic advisor to the group… Read More >>
GoldPoint Partners Hires from Blackstone
GoldPoint Partners, a New York-based private equity manager that was formerly known as New York Life Capital Partners, and that is an affiliate of New York Life Investments, reports that CPA Sean Gelb has joined the firm as chief financial officer. Gelb will “oversee the day-to-day accounting for the firm and its funds,” GoldPoint says… Read More >>
