A successful pilot project to automate corporate actions processing for American Depositary Receipts has inspired XBRL International’s Standards Board (XSB) to think seriously about a global corporate actions taxonomy (dictionary) for a digital language — the eXtensible Business Reporting Language (XBRL) — that could bring a new order to the reporting of corporate actions data…. Read More >>
J.P. Morgan to Revive U.K. Ops Center
J.P. Morgan will invest $48 million (£28.6 million) to enhance its operational hub in Europe, the Bournemouth, U.K.-based Technology and Operations Center, which will employ more than 4,000 people, the firm says. J.P. Morgan has had offices in Bournemouth for 28 years, supporting client activities in 40 countries around the globe, officials say. The facility’s last… Read More >>
DTCC Steps Up Push for T+2
The DTCC is building support to move the industry to a shorter, T+2 settlement cycle for U.S. equities, corporate and municipal bonds and unit investment trust (UIT) trades in a bid to reduce credit and liquidity risks, say officials at the post-trade processing utility. In addition, JPMorgan and industry groups such as the Investment Company… Read More >>
And, now, the Winter/Spring edition of FTF News Magazine
The long winter has given us at Financial Technologies Forum the extra time we needed to pull together many projects such as the Winter/Spring edition of the digital FTF News magazine, officially debuting today. In the meantime, the FTF News website has been re-launched and we have hit a warp speed that Captain Kirk would… Read More >>
J.P. Morgan to Slash 8,000 Jobs as HedgeMark Shuffles Execs
J.P. Morgan Chase to Slash 8,000 Jobs During an investors’ day presentation this week, JPMorgan Chase & Co. officials disclosed that they will be laying off 8,000 staff members from its consumer-oriented businesses while adding to its control groups such as compliance with the hiring of 3,000 new staff, officials say. The net of these… Read More >>
Mary Schapiro Goes Private as Barclays Bolsters its Cash Management Team
Mary Schapiro Crosses the Aisle to Join Promontory Mary Schapiro, the former chairman of the SEC, has crossed the aisle to the private sector and joined consultancy Promontory Financial Group as managing director and chairman of the governance and markets practice, say officials.The Washington, D.C.-based Promontory, which offers strategy, risk management, regulatory, and compliance consulting,… Read More >>
