Sell-side firms had a tougher time with post-trade operations during the depths of the pandemic-induced lockdown. But buy-side firms had their Ops woes too, according to a new report from the DTCC, the major post-trade infrastructure services and systems provider for the securities industry. Not surprisingly, the report finds that “cash fixed income and cash… Read More >>
Will Blockchain Deliver on Its Promises in 2021?
I think our lead fintech news brief about Instinet and Credit Suisse completing multiple equities transactions in T+0 via blockchain/distributed ledger technology [https://bit.ly/2OwJJWJ] may have more significance than at first glance. These two major players used the Paxos Settlement Service from Paxos Trust Company, a self-described infrastructure provide, to settle U.S.-listed equities trades on a… Read More >>
Mutualized Ops Automation Cuts Costs by 20%: DTCC
Post-trade systems and services provider DTCC is making its case for the cost-cutting value of mutualized, automated securities operations after surveying nine global broker-dealers that use its key offerings. The DTCC defines mutualization as “sharing the cost of utilitarian functions” that involves the adoption of “a no-touch processing workflow,” officials say. “Ultimately, the scale and… Read More >>
Wall Street Execs Want Trump Transition to Start
A letter sent to the Trump administration from New York City’s A-List business leaders, including many from top Wall Street financial services firms, underscores the need for “an orderly presidential transition process” so that the country can re-focus on ending the global pandemic. The letter also underscores the need for more cooperation among groups and… Read More >>
RBC Capital Markets Launches AI-Based Trading Platform
‘Aiden’ Yields Solution to Cut VWAP Slippage Securities traders at RBC Capital Markets and scientists who specialize in artificial intelligence (AI) at vendor Borealis AI have been collaborating to deliver Aiden, an AI-based electronic trading platform that exploits “deep reinforcement learning” to facilitate better trading results and insights for clients, officials say. “In doing so, both… Read More >>
EBS’s EMS to Link to IHS Markit’s thinkFolio
EBSI Connectivity Slated for Q4 EBS, a provider of electronic trading platforms and IT for foreign exchange markets, will be offering connectivity between the EBS Institutional (EBSI) execution management system (EMS) and thinkFolio, a multi-asset investment management platform from vendor IHS Markit, vendor officials say. The new service is slated to be available during the… Read More >>
Fifty Firms Sign Up for DTCC’s MTU
Firms Automate Margining Tasks The DTCC’s Margin Transit Utility (MTU), an automated margin call service, now has the support of 50 financial services firms that are striving to automate manual systems amid volatile markets, officials say. The MTU service includes connectivity from AcadiaSoft’s Margin Manager and DTCC’s Alert for standing settlement instructions (SSIs), links to… Read More >>
DTCC & TriOptima Target SFTR Deadlines
A solutions provider for over-the-counter (OTC) derivatives trading, TriOptima, is collaborating with post-trade infrastructure services and systems provider DTCC to facilitate new data links to repositories to help their mutual clients meet the Securities Financing Transactions Reconciliation (SFTR) deadlines hitting now in Europe. The E.U.’s SFTR rules are intended to mitigate systemic risk in the… Read More >>
DTCC Tests DLT’s Usage for Post-Trade Ops
Post-trade infrastructure provider the Depository Trust & Clearing Corp. has launched two experiments — dubbed Project Ion and Project Whitney — that are collaborative industry efforts to investigate how distributed ledger technology (DLT) might strengthen post-trade processes such as the elimination of manual processes in the private markets, and new securities settlement via public markets,… Read More >>
DTCC & Accenture’s Governance Model Targets DLT Problems
The DTCC and Accenture are hoping to spark a new dialogue about the governance processes required for the “safety and soundness” of blockchain/distributed ledger technology (DLT) networks that support securities operations. Blockchain/DLT started out as the backbone of the Bitcoin crypto-currency but has been spun out as a potential backbone for key securities operations. The… Read More >>
