The world’s largest asset manager BlackRock is acquiring alternative investment management software provider eFront with the intention of combining its offerings with the Aladdin software system, broadening the reach of BlackRock’s investment platform to include capabilities for private equity and other alternative investment funds. If all goes according to plan, BlackRock will acquire via a… Read More >>
eFront Upgrades FrontGP Software
Software provider for the alternative investment community eFront has released FrontGP 5.3, a comprehensive solution for automating front-to-back global partner operations, according to a company statement. The new releases marks the FrontGP platform’s full integration into the eFront portfolio, something made possible by eFront’s acquisition of AnalytX in 2013, officials say. FrontGP is now eFront’s… Read More >>
Former Misys CEO Joins eFront Board
eFront, a software provider of financial solutions for managing alternative investments, has named the former executive chairman and CEO of financial services software giant Misys Bret Bolin to be a non-executive director of the board, say eFront officials. In addition, eFront has named John Ellsworth as vice president of product management. Bolin has more than… Read More >>
CFTC to Revamp SDR Push as Aite Predicts CCP Woes
CFTC Calls for Comments for New SDR Rules The CFTC is taking its first major step in an overhaul of its swap data recordkeeping and reporting requirements with a call for public comment. The swaps data gathering is mandated by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This step follows the… Read More >>
FSB Reports Progress on OTC Reform as SWIFT Debuts BIC-to-LEI Mapping
FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
Scivantage Partners with Broadridge as the Carlyle Group Joins Private Equity Data Alliance
Scivantage to Support Maxit Customers via Broadridge BPO Services Scivantage, a brokerage, tax and portfolio reporting applications vendor, is partnering with Broadridge Financial Solutions to provide Scivantage Maxit cost basis reporting customers with reconciliation via Broadridge’s business process outsourcing services, say officials from both companies. “There were multiple factors that brought our two companies together,”… Read More >>
Omgeo Replaces its CCO as Markit Acquires DTCC Unit and Staff
Omgeo Replaces Chief Compliance Officer Post-trade services provider Omgeo has hired industry veteran Jeannie Shanahan to be its new managing director of governance, risk management and compliance replacing Kara L. Hill, who left her post as chief compliance officer to be vice president and deputy general auditor for the DTCC, confirm Omgeo officials. Hill joined… Read More >>
OTC Collateral Reforms to Cost the Industry $53B as Capital Dynamics Details New Fund Management Platform
Celent Report: Price Tag for OTC Collateral Management Reform to Hit $53 Billion As derivatives clearing and collateralization reforms get underway, the financial services industry will spend more than $53 billion in infrastructure and technology investments to make their systems more operationally efficient, according to a new report from market research firm Celent.“We expect it… Read More >>
UBS Fills Top Posts as Former HedgeCo Networks Exec Joins I.A. Englander
UBS Fills Two Top Posts William Vereker will leave Nomura and join the investment bank division of UBS on June 1 as head of corporate client solutions, EMEA. Also starting in June, Oliver Bussmann will be moving to UBS from enterprise software provider SAP to become group chief information officer (CIO), say officials.The hiring of… Read More >>
