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Top Wall Street Firms Begin Overhauls for T+2

September 23, 2015 by Rob Daly

Some of the largest buy- and sell-side firms have begun the hard work needed to revamp infrastructures, workflows and budgets to facilitate the move to the shorter T+2 settlement cycle, according to participants at the recent T+2 Symposium, hosted by the Securities and Financial Markets Association (SIFMA). Key industry players, including SIFMA, the DTCC and… Read More >>

Filed Under: Securities Operations, Buy-Side, Settlement, General Interest, Industry News Tagged With: DTCC, Fidelity Investments, Frank Tota, Goldman Sachs & Co., governance, Industry Steering Committee, Mark Katzelnick, Sifma, T+2 settlement cycle, Wells Fargo

Former CFTC Commissioner Wetjen Joins the DTCC

September 22, 2015 by Eugene Grygo

Mark P. Wetjen, former commissioner and one-time acting chairman for the CFTC, is joining post-trade services and systems provider DTCC as a managing director to oversee global public policy functions and related business and legal activities, say DTCC officials. Wetjen resigned from the commission, effective August 28, and will begin his time with the DTCC… Read More >>

Filed Under: Industry News, Regulatory Compliance, Industry News, People Moves Tagged With: Andrew W. Douglas, CFTC, CFTC Global Markets Advisory Committee, DDRL Europe, DTCC, Financial Stability Oversight Council, global public policy, Larry Thompson, Mark P. Wetjen, post-trade services

Ops Needs Hub to ‘Take Out Operational Risk and Cost’ of KYC

September 9, 2015 by Eugene Grygo

(Editor’s note: Designed for simplifying client data gathering and document management, the Clarient Entity Hub utility service of Clarient Global went live in the spring with the support of Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street. The hub targets the client onboarding and client lifecycle operations such as know your… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Data Management, Middle-Office, Operational Risk, Risk Management, Settlement, FinTech Trends, Back-Office, Opinion, Q&As, KYC, Regulation & Compliance, Regulatory Compliance Tagged With: Barclays, BNY Mellon, Clarient Entity Hub, Clarient Global, client onboarding, Credit Suisse, DTCC, EMIR, FATCA, Goldman Sachs, JPMorgan Chase, KYC, Omgeo, State Street

Could Poor Op Risk Management Spur Another Financial Crisis?

July 31, 2015 by Ryan Boysen

Poor operational risk management related to the origination and securitization of mortgages played a large but often overlooked role in the Great Recession. Now, eight years on, industry observers are split over whether the financial services industry has learned its lessons on the pitfalls of neglecting Op Risk. Linda Allen, a finance professor at Baruch… Read More >>

Filed Under: Securities Operations, Operational Risk, Ops Automation, Risk Management, FinTech Trends, Back-Office, Standards, Regulation & Compliance Tagged With: DTCC, MERS, Office of the Comptroller of the Currency, operational risk

DTCC Takes Aim at the Roadblocks to Data Transparency

July 30, 2015 by Ryan Boysen

Increasing the transparency of the global financial system was one of the major goals of the G20 framework that followed the Great Recession and led to major financial services reform legislation like the U.S’s Dodd-Frank Wall Street and Reform Act. Even though there are many bright spots in this area — some industry observers see… Read More >>

Filed Under: Derivatives Operations, Derivatives Processing, Securities Operations, Data Management, Operational Risk, Ops Automation, Risk Management, Settlement, FinTech Trends, Back-Office, Standards, Regulation & Compliance, Derivatives, Regulatory Compliance Tagged With: Dodd-Frank, DTCC, Larry Thompson, SDR, transparency

DTCC Elects Deutsche Bank’s Turley to Board

July 9, 2015 by Louis Chunovic

The DTCC, a post-trade market infrastructure provider for the financial services industry, reports that Jim Turley, co-head of group technology and operations for Deutsche Bank, has been elected to its board of directors, officials say. The board “provides direction and oversight for DTCC in the interests of its diverse stakeholders, while promoting safety and stability… Read More >>

Filed Under: Industry News, People Moves Tagged With: compliance, DTCC, operations

T+2 Committee Wants ‘Clear Action’ via the SEC

July 9, 2015 by Ryan Boysen

The goal of shortening the U.S. settlement cycle to T+2 (trade day plus two days) by 2017 should be achievable, representatives of a securities industry T+2 initiative say. But regulators will have to step up to the plate and make the rules changes essential to getting the initiative off the ground. Specifically, that means SEC… Read More >>

Filed Under: Securities Operations, Settlement, Regulation & Compliance, Regulatory Compliance Tagged With: DTCC, ICI, SEC, settlement, Sifma, T+2

AcadiaSoft Forms Margining Hub for Non-Cleared Derivatives

July 9, 2015 by Ryan Boysen

Margining platform vendor AcadiaSoft has successfully linked its own system with that of several other providers in the margining automation space, creating the first industry-wide margining utility for non-cleared derivative instruments. AcadiaSoft linked its MarginSphere 2 electronic messaging service for over-the-counter (OTC) derivatives with TriOptima’s triResolve OTC trade reconciliation service and the DTCC-Euroclear’s Margin Transit… Read More >>

Filed Under: Derivatives Operations, Clearing, Ops Automation, General Interest, Industry News Tagged With: AcadiaSoft, BNP Paribas, Citi, DTCC, Euroclear, MarginSphere, Societe Generale

Promotion in SEC’s Office of Market Supervision

June 25, 2015 by Eugene Grygo

The SEC has promoted John C. Roeser to the post of associate director and deputy head of the office of market supervision in its division of trading and markets, officials say. Roeser, who assumed the new post immediately, has been an assistant director in the office of market supervision since 2005 and played a key… Read More >>

Filed Under: Industry News, People Moves Tagged With: compliance, Dodd-Frank, DTCC, SEC, trading and markets

DTCC Urges Trade Data Harmonization

June 23, 2015 by Louis Chunovic

Post-trade services and systems provider DTCC, which operates the Global Trade Repository, a derivatives trade reporting service for brokers, buy-side firms and corporates in nine jurisdictions across 33 countries, has made recommendations regarding global data harmonization to the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) harmonization working… Read More >>

Filed Under: Securities Operations, Data Management, Standards Tagged With: DTCC

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