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OCC Lowers Equity Derivatives Clearing Fee

April 23, 2021 by FTF News

OCC Lowers Equity Derivatives Clearing Fee

High Volumes Facilitated OCC’s Reduced Fees The Options Clearing Corp. (OCC), which describes itself as “the world’s largest equity derivatives clearing organization,” is cutting its clearing fee from four-and-a-half cents ($0.045) per equity derivatives contract to two cents ($0.02) per contract effective June 1, 2021, subject to regulatory review, officials say. “The two-cent clearing fee… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Buy-Side, Clearing, Corporate Actions, Data Management, Industry News, Mergers & Acquisitions, Middle-Office, Operational Risk, Ops Automation, Reconciliation & Exceptions, Risk Management, Settlement, Diversity & Human Interest, Governance, Diversity, Equity, and Inclusion (DEI), Digital Transformation, FinTech Trends, Back-Office, Blockchain/DLT, Integration, Standards, Derivatives, Regulatory Compliance, Regulatory Reporting, Industry News, People Moves Tagged With: automation, back office, chief information officer, chief technology officer, equity derivatives clearing, ING, operational risk, operations, Options Clearing Corporation, Securities Operations, settlement, SS&C

ING & Credit Suisse Test Blockchain for Securities Lending

March 7, 2018 by Eugene Grygo

ING & Credit Suisse Test Blockchain for Securities Lending

ING, Credit Suisse Securities (Europe) Ltd., and lending solutions provider HQLAX report that they have recently executed a live securities lending transaction valued at €25 million ($31 million) that was settled using a blockchain platform, Corda, developed by vendor R3. Called “a groundbreaking transaction,” Credit Suisse and ING officials swapped baskets of securities via the… Read More >>

Filed Under: Collateral & Margin Management, Securities Operations, Clearing, Middle-Office, Operational Risk, Ops Automation, Settlement, Governance, FinTech Trends, Back-Office, Blockchain/DLT, Integration, Standards Tagged With: blockchain/DLT, Clifford Chance, Credit Suisse Securities, David E. Rutter, HQLAX, ING, Paolo Muzzarelli, Romain Dumas, securities lending transaction

ING Bond Traders Cut to the Chase via ‘Katana’

December 21, 2017 by Eugene Grygo

ING Bond Traders Cut to the Chase via ‘Katana’

A.I. Tool to Bolster Decision-Making Rather Than Replace Traders  With a Samurai sword in mind, ING is using an artificial intelligence (A.I.) tool, dubbed Katana, “to help bond traders make faster and sharper pricing decisions,” according to officials at the firm. The new tool has not been created to replace human traders but to “enhance… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Industry News, Middle-Office, Operational Risk, Ops Automation, Risk Management, Governance, FinTech Trends, Back-Office, Standards, Regulation & Compliance, Derivatives, Regulatory Reporting Tagged With: AI, Beta Capital Wealth Management, BGC Partners, ING, Katana system, KYC, MiFID II, Santiago Braje, Self-Clearing

Broadridge Acquires Summit Financial Disclosure

October 6, 2017 by Eugene Grygo

Broadridge Acquires Summit Financial Disclosure

Broadridge, Summit to Integrate Offerings Broadridge Financial Solutions recently announced that it has acquired Summit Financial Disclosure, a financial document management solutions provider in an effort to provide an end-to-end service. The acquisition will lead to the integration of Summit’s document composition and regulatory filing services with Broadridge’s proxy voting and shareholder communications services, officials… Read More >>

Filed Under: Securities Operations, Buy-Side, Data Management, Middle-Office, Operational Risk, Ops Automation, Settlement, Governance, Back-Office, Blockchain/DLT, Integration, Regulatory Compliance Tagged With: BNP Paribas, BNY Mellon, Broadridge Financial Solutions, Charles River Development, Finastra, HSBC, ING, Misys and D+H, Northfield Information Services Inc., State Street, Summit Financial Disclosure

Four Banks Test DLT-Based ECP Platform

July 11, 2017 by Lynn Strongin Dodds

Enterprise software vendor R3 (formerly known as “blockchain consortium”) and four of its member banks — ABN Amro, Commerzbank, ING, and KBC — have developed a prototype solution for the issuance of euro commercial paper (ECP) on the group’s Corda distributed ledger technology (DLT) platform. Participants in the project say that it will prove to… Read More >>

Filed Under: Securities Operations, Settlement, Blockchain/DLT Tagged With: ABN AMRO, blockchain, blockchain consortium, Commerzbank, distributed ledger technology (DLT), euro commercial paper (ECP), ING, KBC, R3

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