Digital Asset Holdings, LLC, a New York City-based developer of distributed-ledger technology for the financial services industry, reports that it has “raised more than $50 million in funding” from several prominent financial industry players. The company’s new investors are: ABN AMRO, Accenture, ASX Ltd., BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse… Read More >>
DTCC Wants to Guide Blockchain’s Future in Ops
The DTCC is embracing with qualifications Blockchain distributed ledger technology and is signaling that settlement may be “an ideal long-term target” if the new technology can mature and scale under the tutelage of the post-trade infrastructure utility provider, which says it “is uniquely positioned to help implement this technology and increase its adoption.” DTCC officials… Read More >>
Markit to Acquire Loan/SERV and Meld It to Markit Clear
Financial information services and systems vendor Markit is acquiring the position reconciliation technology assets of DTCC Loan/SERV (Loan/SERV), a subsidiary of post-trade infrastructure provider DTCC, in an effort to integrate Loan/SERV’s service into the Markit Clear loan inventory platform, say Markit officials. The financial terms of the acquisition were not disclosed and Markit will not… Read More >>
T+2 Systems Will Get Built in 2016: DTCC
(Editor’s note: The push for a shortened settlement cycle got major boosts last year when SEC Chair Mary Jo White gave a provisional nod to the two-day settlement cycle (T+2), and when the U.S. T+2 Industry Steering Committee (T+2 ISC) submitted its Implementation Playbook to the SEC and released it publicly. The T+2 ISC is… Read More >>
Unified Settlement Push in Europe Hits Speed Bumps
The European Central Bank (ECB) has rescheduled the implementation of its Target 2 Securities (T2S) program, allowing one of the largest central securities depositories (CSDs) to delay migration until September 2016. The delays, however, are not likely to derail the T2S push, launched in June 2015 to create a single European platform for securities settlement…. Read More >>
Wall Street Heavyweights Back Open Source Project for Blockchain
Blockchain technology, with distributed-ledger potential that has excited much of the financial services world, has gotten a big boost from the Linux Foundation, the San Francisco-based open source nonprofit founded in 2000, which reports the launch of a broadly based open source initiative. “The project will develop an enterprise grade, open source distributed ledger framework… Read More >>
ISC Creates a Map for T+2 Move
The nitty gritty of shorter settlement cycles is getting clearer as the U.S. T+2 International Steering Committee (T+2 ISC) has submitted its Implementation Playbook to the SEC on December 18 and released to the industry on Dec. 21 to provide the industry with a timeline to help them move to a two-day settlement cycle (T+2)… Read More >>
Nordea Bank Scores Breakthrough with Repo Trading
Nordea Bank, a large financial services group in Northern Europe, has been working with post-trade services provider Omgeo and investment management software vendor SimCorp to automate its repurchase agreement (repo) post-trade matching process, and recently matched its first live repo trade. The Stockholm-based bank recently processed a repo instrument between itself and Swedish administrative services… Read More >>
KYC Demands Cause ‘Immense’ Data Burdens for Firms
Providers are targeting the increasingly important know your customer (KYC) space in an attempt to ease the “immense” data management burden firms are reportedly experiencing in this area of financial services compliance. Solutions designed to support data management in relation to regulatory issues such as KYC anti-money laundering controls continue to attract users looking for… Read More >>
DTCC Wants Global Framework for Sharing Swaps Data
Post-trade services and infrastructure provider DTCC would like to see the start of an international discussion about a framework for the global sharing of data about swaps transactions in the wake of federal action to remove a Dodd-Frank Act provision that some saw as an impediment to swaps data sharing globally. In a rare moment… Read More >>
