Trading Technologies International (TT) intends to expand its reach into clearing and other middle-office technologies and services via its acquisition of ATEO SAS, a provider of post-trade solutions for listed derivatives, officials say. TT is a software-as-a-service (SaaS) technology platform provider to global capital markets. The financial terms of the transaction, which closed on Feb…. Read More >>
BBH Takes Aim at Latencies in Securities Lending
(To help its securities lending clients with their transition to T+1 shorter settlement, Brown Brothers Harriman (BBH) is examining securities loan recall lifecycles to find any latencies that may be caused by batch processing or bespoke messaging for Swift processes, says Sarah Holmes, global head of securities lending at BBH. In her new role, Holmes… Read More >>
DSB’s UPI Service Targets Swap Reporting Regs
The Derivatives Service Bureau (DSB) reports that it has launched a service, dubbed the Unique Product Identifier (UPI), that industry participants will be required to use for swap recordkeeping and reporting to trade repositories, giving authorities a new view into potential systemic risks. Officially, UPI has been established as International Organization of Standardization standard (ISO)… Read More >>
SIFMA Wants SEC to Drop PDA Ban & Other News
SIFMA: SEC Rule Puts Too Many Limits on Firms Securities industry trade association SIFMA and its Asset Management Group (AMG) are strongly urging the SEC to abandon proposed rules that would end or nullify the use of predictive data analytics (PDA) and PDA-like technologies by broker-dealers and registered investment advisors (RIAs). In August, the SEC… Read More >>
Aladdin Links to LTX’s Liquidity Cloud & Other News
Aladdin & LTX Users Get Cross-Platform Access BlackRock’s Aladdin platform has a new channel to liquidity via its integration with the Liquidity Cloud offering from LTX, a subsidiary of Broadridge Financial Solutions, and the link helps common clients of LTX and Aladdin to access trading functions of both platforms, officials report. LTX is a… Read More >>
Should Congress Fire Gary Gensler?
To say the least, the Securities and Exchange Commission (SEC) as led by the controversial Gary Gensler has been busy since the start of the Biden administration. Some people in the securities industry applaud Chair Gensler’s accelerated initiatives while others are up in arms. In particular, Gensler has raised the stakes recently with his dramatic… Read More >>
Old Ops IT Systems Can’t Support T+1: Q&A
(Editor’s note: Earlier this year, Sam Farrell was appointed as head of North America for Torstone Technology, maker of a software-as-a-service (SaaS) platform for post-trade securities and derivatives processing. Based in Toronto, he oversees U.S. and Canadian operations. A key focus for Farrell will be the North American push for trading day plus one (T+1)… Read More >>
Templum Brings Trading Technology to Securitized Artwork: Q&A
(Editor’s note: Earlier this month, Templum, a provider of capital markets infrastructure technology for alternatives and private securities, reported that it had a new client — Masterworks LLC. The new client is an alternative investment platform for buying and trading shares in works of art that are often worth millions. Masterworks, which finds and then… Read More >>
FINRA to Tag Errant Firms as ‘Restricted’
If you’re a broker-dealer firm, you might want to mark June 1, 2023 on your calendar. That’s the enforcement start date for a new FINRA designation: Restricted. Restricted as in there’s a history of misconduct allegations against the firm. And restricted because the firm presents a “high degree of risk to the investing public.” So… Read More >>
The SEC Wants Electronic Filing for All Forms
Late last month, the SEC put forward amendments intended to “modernize its information collection and analysis methods by, among other things, proposing that a number of filings be submitted to the Commission electronically on EDGAR [the Electronic Data Gathering, Analysis, and Retrieval] system using structured data where appropriate,” according to the regulator’s announcement. Many in… Read More >>