When regulators recently extended the deadline for the margin requirements on uncleared swaps from Dec. 1, 2015 to Sept. 1, 2016, they gave firms some breathing room, but also sent the clear message that the rules aren’t going away. Firms active in the swaps markets are breathing a sigh of relief, but that shift should… Read More >>
Regulatory Compliance Tops List of Ops Burdens
A white paper from financial messaging and systems cooperative SWIFT finds that regulatory concerns tower over other operational challenges for the buy side in 2015. Research commissioned by SWIFT also shows that buy-side firms are grappling with automation and financial crime compliance initiatives. The findings came as a result of survey and are offered via… Read More >>
Watson Wheatley Adds Equity Module to i-Recs
Reconciliation systems vendor Watson Wheatley Financial Systems (WWFS) has released a new Total Equity Module for Derivatives Reconciliation for its i-Recs platform, officials say. The module facilitates matching of any margin traded instruments, and its “unique methodology” can help solve “the book cost differences that appear on derivative instruments,” according to a company statement. The… Read More >>
RJO European Affiliate Buys Kyte Group from GFI
Chicago brokerage R.J. O’Brien and Associates’ (RJO) European affiliate R.J. O’Brien Europe Ltd. (RJO Europe) will acquire interdealer broker GFI Group’s subsidiary The Kyte Group Ltd., officials say. Terms of the transaction were not disclosed, and the UK Financial Conduct Authority has approved the transaction, which is expected to close no later than March 17,… Read More >>
SunGard Targets FCMs via Derivatives Clearing Utility
FinTech giant SunGard Financial Systems has launched a venture to cut costs and fatten margins for derivatives brokers, unveiling a new derivatives industry clearing utility that the vendor says will increase operational efficiency by streamlining redundant workflows at clearing firms. The SunGard Derivatives Utility, as it’s called, was born out of a partnership with Barclays… Read More >>
Six Derivatives Dealers Pick KYC Joint Venture
Markit | Genpact KYC Services, a joint venture between Markit and Genpact Ltd., has announced that six G14 derivatives dealers are implementing the centralized service aimed at streamlining the collection and management of know your customer (KYC) information, officials say. The G14 dealers that will be implementing the service are BNP Paribas, Citi, Deutsche Bank,… Read More >>
Bolero International Opens Singapore Office
Bolero International Ltd., an electronic trade finance solutions provider, reports that it has opened a new office in Singapore’s Raffles Place financial district. The new office will bring Bolero “closer to corporate, logistics and financial customers based in and operating out of the region,” according to a company statement. In addition, the company is “committed… Read More >>
Nominees Announced for the FTF News Technology Innovation Awards
Reflecting the diversity of the Ops industry, established players such as Eagle Investment Systems and SmartStream and newcomers such as DataBoiler and Duco are among the nominees for the fifth annual FTF News Technology Innovation Awards, which are being announced today. Voting on the nominees starts today and continues until March 25, 2015. The winners… Read More >>
Tera Group & MGT to Propel Bitcoin Exchange via Merger
Tera Group, owner of Bitcoin derivatives bourse, TeraExchange, recently announced plans to merge with online gambling firm MGT Capital Investments, in a bid to drive future growth for TeraExchange, according to officials from both companies. Opening in September of last year, TeraExchange was the first regulated Bitcoin derivatives exchange in the U.S., and also maintains… Read More >>
ISDA Takes Aim at Derivatives Reporting Roadblocks
One of the key components of the 2010 Dodd-Frank law was an effort to increase the transparency of the notoriously opaque derivatives markets, which played a major role in the Great Recession. Five years down the line and regulators have made significant progress toward achieving that goal, according to industry group International Swaps and Derivatives… Read More >>
