The DTCC has confirmed to FTF News that it is shutting down its Global Markets Entity Identifier (GMEI) utility and leaving the Legal Entity Identifier (LEI) services business by Aug. 22, and that the Global Legal Entity Identifier Foundation (GLEIF) will assign current LEIs to new, accredited local operating units (LOUs) as part of a… Read More >>
DTCC & CME Push to Expand Treasuries Deal & Other News
DTCC, CME Need Regulators to Allow Cross-Margining Expansion Post-trade infrastructure system and services provider DTCC and derivatives exchanges company CME Group report that they would like to improve their cross-margining arrangement so that clearing members of CME and the Government Securities Division of DTCC’s Fixed Income Clearing Corp. (FICC) can trade and clear U.S. Treasury… Read More >>
Prepare for Data Challenges Ahead of LIBOR’s June 30 Deadline: DTCC
(Editor’s note: This is sponsored content written by Ann Marie Bria, managing director and general manager, of Asset Services at the Depository Trust & Clearing Corp.) As of June 30, 2023, LIBOR will no longer be a viable reference rate for a wide variety of debt transactions. This change will have a significant impact on trillions of dollars… Read More >>
FTF Unveils Winners of the 2023 FTF Awards
With nods to established players and voter enthusiasm for other providers hitting their stride, Financial Technologies Forum (FTF) has unveiled the winners of the 2023 FTF News Technology Innovation Awards competition. The 30 winners of the FTF Awards competition — now in its 12th year — are being honored for achievements during 2022. “It’s not… Read More >>
TPG Buys Angelo Gordon for $2.7B & Other News
TPG-Angelo Gordon’s Combined AUM Is $208 Billion Private equity asset manager TPG Inc. is acquiring Angelo Gordon, a $73 billion credit and real estate investment firm via a cash and equity transaction valued at approximately $2.7 billion, officials say. Acquiring Angelo Gordon “marks a significant expansion into credit investing for TPG, establishing additional levers to… Read More >>
DTCC Solution Targets LIBOR-to-SOFR Transition
Post-trade infrastructure provider Depository Trust & Clearing Corp. (DTCC) has launched the LIBOR Benchmark Replacement Index Solution to help firms make the transition from the corrupted London Interbank Offered Rate benchmark to the Secured Offered Financing Rate (SOFR) and other replacement rate indices by June 30, 2023. The new offering is available now via DTCC’s… Read More >>
SEC Approves Amendments to Allow T+1 Settlement
The SEC’s commissioners voted 3 to 2 on Wednesday to pass a set of amendments and new rules that would facilitate an industry-wide move from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for U.S. equity markets. The vote also endorsed a compliance date of May 28,… Read More >>
DTCC Guide Demystifies T+1 Testing
In the U.S., there have been many serious discussions and efforts to move the securities industry from the trading day plus two (T+2) settlement cycle to T+1. In addition, the regulators, standards groups, and industry associations are mulling the changes that must be made to facilitate the shift to T+1. But, at some point, the… Read More >>
Many Firms Can’t Leverage Valuable Ops Data: Q&A
(Editor’s note: Many financial services firms can “only leverage a small portion of the data they possess on a modern data platform to generate insight — the rest is simply used for processing activities,” says Kapil Bansal, managing director, global head of data strategy and analytics, business architecture at DTCC, via an FTF News Q&A…. Read More >>
War & Inflation Are Top Risks for 2023: Survey
Traditionally, the approach of a new year means it’s time to dust off the crystal ball. The FTF News proprietary orb is in the shop for some well-earned polishing, but never fear. There is no better prognosticator than the Depository Trust & Clearing Corp. (DTCC), which has unveiled its annual Systemic Risk Barometer Survey: 2023 Risk… Read More >>
