First Part of the Launch Slated for Q3 2019 Post-trade infrastructure systems provider the DTCC has released a timetable for the first phase of settlement optimization, which intends to remove “an entire market day of settlement exposure without eliminating a calendar day from the standard trade settlement process,” DTCC officials say. The initial piece is… Read More >>
Global Framework Would Fix Fragmented OTC Repositories: DTCC
A new report from the DTCC calls for a new global reporting framework to complete the Great Recession mandate of the Group of 20 (G20) to establish repositories of over-the-counter (OTC) derivatives trades, intended to help regulators sift out potential risks. The DTCC is also pointing to the possibilities of distributed ledger technology (DLT) and… Read More >>
Digital Asset Launches Developer Program for Smart Contracts
Digital Asset, a pioneer of distributed ledger technology (DLT) for financial services, is launching a developer program for writing smart contracts via the Digital Asset Modeling Language, an attempt to bring DAML to “a wider audience” that will pave the way for more applications to run via the vendor’s flagship platform. “DAML is the enterprise… Read More >>
DTCC Pushes for Tougher Cybersecurity Response
In a way, the DTCC is thinking the unthinkable as it advocates for a better coordinated, cross-industry defense against a major cyber-attack that could cripple financial markets. “Ultimately, the industry cannot rely on the low feasibility of cyber-attacks with systemic consequences,” according to a new white paper report from the post-trade infrastructure services and solutions… Read More >>
DTCC Wants U.S. Equities to Shorten Settlement Again
In the wake of the move to a shorter T+2 settlement cycle last year, the DTCC is putting forward new proposals to optimize and hasten the time to settlement for U.S. equities markets. Specifically, the DTCC wants to “move settlement of eligible equity trades at its subsidiary, National Securities Clearing Corp. (NSCC), from the afternoon… Read More >>
Tim Lind Joins DTCC as MD for Data Services
Industry veteran Timothy Lind has left Thomson Reuters where he was global head of financial regulatory solutions and joined the Depository Trust & Clearing Corp. (DTCC) to be managing director of DTCC Data Services. In his role at the DTCC, Lind’s responsibilities “will include overseeing DTCC DataPro,” a DTCC spokesperson tells FTF News. DataPro “offers… Read More >>
GMEX & Colt Technology to Offer ‘Exchange-in-a-Box’ Services
GMEX and Colt to Support MiFID II Trading Venues GMEX Technologies Ltd (GMEX), a subsidiary of GMEX Group and vendor of multi-asset exchange and post-trade technology is partnering with Colt Technology Services to offer what it calls “the GMEX Exchange-in-a-Box” via the Colt PrizmNet financial extranet, officials say. “GMEX Exchange-in-a-Box is a multi-asset, multi-language hybrid… Read More >>
MiFID II Deadline Spurs Ops Overhauls for Firms
Although MiFID II is only four weeks away, buy- and sell-side firms are at different stages of preparation. For many, the goal is to cross the finish line on Jan. 3, 2018, but then to spend the rest of the year fine-tuning their systems and processes. “One of the unknowns is how many people are… Read More >>
Linedata, DTCC, Smartkarma & TFS Target MiFID II Burdens
(Editor’s note: With the MiFID II deadline about 100 days away, FTF News will be running an ongoing roundup of IT and operations news related to the market reform legislation.) Linedata & the DTCC Extend a 10-Year-Old Relationship With the MiFID II deadline looming, Linedata, a vendor of investment management solutions, has extended a decade-old… Read More >>
Industry Braces for the T+2 Big Bang Conversion
After years of preparation, the U.S. securities industry is taking its first steps toward shorter settlement, which for many banks and other financial services firms has meant an end-to-end overhaul for key operations. Over the Labor Day weekend, major industry associations and industry participants will be skipping their last summer holiday to oversee the shortening… Read More >>
