Société Générale to Deploy FIS Solution Société Générale and systems and services provider FIS report that the French banking giant will be using the FIS Cleared Derivatives Suite for a “strategic transformation of its derivatives clearing back-office.” “As part of the agreement, the investment bank and financial services group will transition their existing derivatives… Read More >>
GSAM Buys a Robo-Advisor & Other News
GSAM to Use NextCapital for Defined Contribution Foray Goldman Sachs Asset Management (GSAM) is acquiring Chicago-based robo-advisor NextCapital Group to hasten the development of Goldman Sachs’ offerings for the defined contribution market via personalized managed accounts and digital advice, officials say. The transaction is slated to close during the second half of this year, depending… Read More >>
DTCC Launches Repo Markets Service & Other News
DTCC Treasury Kinetics Takes On Repo Market Transparency Post-trade infrastructure and systems provider DTCC is launching a service for accessing U.S. treasury transaction data, called DTCC Treasury Kinetics, which is intended to increase transparency into the repurchase agreement (repo) market, officials say. The DTCC Treasury Kinetics was crafted to deliver “comprehensive views of the repo markets… Read More >>
DoJ Begins 7th Fund Distribution for Madoff Victims
A former pillar of Wall Street, once celebrated for his financial acumen, died in prison six months ago. Meanwhile, restitution to victims of his epic fraud continues on. Savvy FTF News readers will know that Bernard L. Madoff’s fall is a cautionary tale, still eminently relevant. In June 2009, the infamous Ponzi schemer, and the… Read More >>
Nasdaq Bolsters Its Crime-Fighting Line-Up
Nasdaq Inc. is acquiring Verafin, based in Canada, and its set of related “anti-financial crime management products.” These related products use “data analytics, machine learning, and visualization and investigation tools.” The Nasdaq platform itself is widely known as the first electronic exchange, and the goal of this acquisition, according to a statement, is to deploy… Read More >>
Nasdaq & Caspian Take On Automated AML Investigations
Nasdaq Sytem Targets Gap in AML Inquiries Nasdaq just launched a “cloud-deployed” anti-money laundering (AML) system, the Nasdaq Automated Investigator for AML, that is intended to help financial services firms use IT to detect evidence of money laundering. The new system has been designed in partnership with Caspian, a company based in Newcastle upon Tyne,… Read More >>
Members Exchange Wins SEC’s & BlackRock’s Approval
A securities exchange start-up, the Members Exchange (MEMX), is on a roll via new strategic financing led by asset manager BlackRock, following a key approval by the SEC. While the launch of its first transaction venue was delayed by the COVID-19 pandemic, MEMX officials want their venue to get underway during the third quarter of… Read More >>
SEC & Exchanges Clash Over Market Data Order
U.S. equities exchanges are pushing back on the SEC’s sweeping order directing them and the Financial Industry Regulatory Authority (FINRA) to improve the governance structure for public, consolidated equity market data and the distribution of trade and quote data from trading venues. The order is intended to change the balance of power among trading venues… Read More >>
Nasdaq Data Now Available via Cloud Service
Exchanges operator Nasdaq recently hit a COVID-19 speed bump as it was preparing to launch its Nasdaq Cloud Data Service (NCDS), which uses application programming interfaces (APIs) to provide access to real-time exchange data, indexes, and fund data. Before a full launch, Nasdaq had to find out if the implementation of the new offering would… Read More >>
Traiana Aims Post-Trade Service at Equity Swaps
Traiana Targets Ops Efficiency & Settlement Risk A service to automate key post-trade stages of equity swaps processing has been launched by Traiana, an infrastructure solutions provider for trading and risk management. The vendor wants to automate “manual, labor intensive and inefficient” post-trade affirmation, officials say. The new Equity Swaps Lifecycle Management offering “normalizes data… Read More >>
