G2 FinTech, provider of the TaxGopher tax analysis and compliance software, and Advent Software, maker of Geneva portfolio management system, are joining forces to help prime brokers comply with Phase 3 of the cost-basis reporting (CBR) tax requirements of the Internal Revenue Service. New CBR rules have been taking effect over the past two years… Read More >>
NSCC Lobbies for an Alert System for Trading Limits as Fiserv Ports TradeFlow to Linux
NSCC Seeks SEC Approval for Limits Alert System The National Securities Clearing Corp. is seeking the SEC’s approval for a key component of a monitoring system that will alert firms to trading activity that hits or exceeds trading limits.A subsidiary of the DTCC, the NSCC wants to provide its members with a new tool… Read More >>
DTCC Shuffles Execs as Fundtech Hires from Calypso
DTCC and Deri/SERV Promote for Executive Posts The DTCC will have a new chief financial officer and chief technology officer in September and new leaders for its over-the-counter (OTC) derivatives services unit Deriv/SERV as a result of several internal promotions at the industry utility. Susan Tysk-Cosgrove, the current general manager, settlement and asset services has… Read More >>
Commerzbank Staff May Join BNP Paribas Securities Services as G2 FinTech Adds to Advisory Board
Commerzbank’s Depotbank Staff May Join BNP Paribas Securities Services BNP Paribas Securities Services last week acquired Commerzbank’s Depotbank business for German domiciled UCITS and institutional funds, securities funds and open-ended real estate funds and will be giving more than 80 Commerzbank employees involved in those activities the opportunity to join the global custodian bank, officials… Read More >>
CBR Rules Hit Home
(Editor’s Note: This is an excerpt from the Summer 2012 printed edition of FTF News, which became available for downloading on July 10.) Tax season for 2012 was especially painful for broker/dealers and their clients as the first wave of the new cost basis reporting (CBR) requirements of the Internal Revenue Service (IRS) took effect… Read More >>
