CFTC Also Permits Security-Based Swaps Margining The Commodity Futures Trading Commission (CFTC) has approved a request by Banque Centrale de Compensation, doing business as LCH SA, to provide portfolio margining of swaps and security-based swaps in a cleared swaps customer account, officials say. “The order establishes terms and conditions under which LCH SA and its clearing members… Read More >>
Crypto Firms Face Many AML Challenges: Q&A
(A cryptocurrency trading platform, Voyager Digital Ltd., recently announced that it is using anti-money laundering (AML) solutions from NICE Actimize. Voyager has signed onto the cloud-based AML Essentials offerings and will be using the Suspicious Activity Monitoring and Customer Due Diligence applications to monitor its operations. The news gave FTF News an opportunity to reach… Read More >>
Middle Office Problems Spur Settlement Woes: Survey
Problems in middle-office operations are being blamed for back-office settlement failures, according to the results of a joint survey done by Torstone Technology, a vendor of cloud-based, post-trade services, and GreySpark Partners, a capital markets consultancy. In fact, the survey finds that “60 percent of institutions believe that settlement failures attributed to inadequacies of the… Read More >>
SimCorp & JPMorgan Partner to Ease Ops Integration
A new collaboration between SimCorp and JPMorgan’s Securities Services group is intended to help their mutual clients share intraday and multi-asset data — a key part of a new effort to bring interoperability and transparency to SimCorp’s systems and the investment bank’s pre-trade, post-trade, trading, and treasury solutions. This tighter integration between front-and-middle office operations… Read More >>
MAWER LAUNCHES A ‘SPINE REPLACEMENT’ IT OVERHAUL
Canadian firm Mawer Investment Management is embarking upon its most ambitious IT project in its 46-year history. Mawer Investment Management Ltd.’s motto is “Be Boring. Make Money.” But its plans for a major IT infrastructure overhaul are anything but dull. Mawer (pronounced “more”) has just embarked upon its most ambitious IT transformation project in its… Read More >>
State Street’s New COO to Oversee CRD Integration
Custodian giant State Street Corp. has promoted Lou Maiuri to the role of chief operating officer (COO) from his post as head of State Street’s Global Markets and Exchange businesses. A key aspect of his new position will be to oversee the integration of software and services vendor Charles River Development (CRD), which State Street… Read More >>
Apex Group to Use GoldenSource’s Services
Apex Hoping SaaS Solution Will Help Growth Fund administrator Apex Group Ltd., touted as the world’s fifth largest fund administrator, has signed on to use GoldenSource’s its centralized pricing and reference data services, officials say. Apex will use GoldenSource’s enterprise data management (EDM) software-as-a-service (SaaS) solution to improve operating and cost efficiencies “through the standardization… Read More >>
State Street to Buy CRD for $2.6 Billion
Custodian giant State Street Corp. is moving to acquire investment software vendor Charles River Development (CRD) for $2.6 billion and plans to combine CRD’s front- and middle-office software as a service (SaaS) offerings with State Street’s technology to create a more comprehensive transaction processing system, tailored to new buy-side demands. The $2.6 billion acquisition will… Read More >>
DTCC Bolsters Support for SFTR Reporting via Partnerships
Financial services firms are gearing up for the reporting requirements of the Securities Financing Transaction Regulation (SFTR), and the DTCC is partnering with EquiLend, Trax, IHS Markit and Pirum to improve its global trade reporting capabilities before the SFTR rules take effect by the end of next year. Even though SFTR originated with the European… Read More >>
Startup Dakota Wealth Management Picks Pershing Advisor Solutions
New Firm Taps Pershing Advisor Solutions BNY Mellon’s Pershing Advisor Solutions has been picked as a custody partner for Dakota Wealth Management, a newly launched investment management firm. Dakota, headquartered in Palm Beach Gardens, Florida, currently manages $600 million in client assets, according to a statement, which notes that the average registered investment advisor… Read More >>
