Skandinaviska Enskilda Banken (SEB) is deploying an international post-trade processing solution from Broadridge Financial Solutions in an effort to streamline its securities business across international and domestic markets, officials say. Based in Stockholm, Sweden, SEB is “a long-time user of Broadridge’s front and middle office solutions for order management, trade execution and allocation,” according to… Read More >>
SmartStream Air Update Takes On Spreadsheet Reconciliation
SmartStream says the latest iteration of its Air platform, version 9, takes on inter-system data validation and spreadsheet reconciliation — key capabilities previously too expensive to automate via traditional reconciliation platforms. In fact, SmartStream Air is not traditional as it’s a cloud-native system that is similar to a consumer app because it does not require… Read More >>
Humans Do 60% of Ops Data Processing: Q&A
(Duco describes itself as a no-code data automation company that helps clients consolidate, standardize, and reconcile key data types in Duco’s cloud. Its mission is to dramatically reduce the 60 percent of data processing that happens manually via its Data Automation Platform. FTF News recently spoke with James Maxfield, chief product officer at Duco, about… Read More >>
SEC Green-Lights Half-Penny Stocks
While the world was watching and waiting for the Fed to cut interest rates, the Securities and Exchange Commission (SEC) in a rare, quiet, bipartisan, and unanimous decision adopted “amendments to certain rules under Regulation NMS [National Market System]” that will allow U.S. stock exchanges to have transactions via increments of half a penny —… Read More >>
FIA Tech Taps Broadridge for COMS & NYFIX
A technology provider for the futures industry, FIA Tech will be using the connectivity, onboarding, and monitoring service (COMS) and the NYFIX Order Routing Network from Broadridge Financial Solutions to provide clients interoperability across networks and standardization for exchange-traded derivatives (ETD), officials say. The embrace of the Broadridge offerings will also enhance FIA Tech’s Trade… Read More >>
T+1 Hit Home Harder Than Expected
A new survey from Citi Securities Services is lifting the lid on the widespread ramifications of North America’s recent shift to T+1 settlement, with effects rippling across the entire trade lifecycle. While the DTCC, brokers, and custodians have remained relatively quiet since the May transition, Citi’s Securities Services Evolution 2024 survey shows that 44 percent… Read More >>
Indus Valley Partners Expands Reach via IntegriDATA Acquisition
With backing from private equity firm PPC Enterprises (PPC), managed services provider Indus Valley Partners (IVP) has acquired IntegriDATA, an alternative investment software solutions provider, and combined their respective cloud platforms, officials say. A specialist middle-market PE firm, PPC is a minority investor in IVP, and the acquisition is intended to position the IVP Group… Read More >>
ASX Sued Over Remarks About CHESS Replacement Effort
The Australian Securities and Investments Commission (ASIC), the securities industry regulator for Australia, is taking exchange operator the Australian Securities Exchange (ASX) to court over allegations that ASX officials made “misleading statements related to its Clearing House Electronic Subregister System (CHESS) replacement project.” The case was filed in the Federal Court of Australia on Aug…. Read More >>
Derivatives Document Negotiations Need More Automation
After conducting a survey on document negotiation, the International Swaps and Derivatives Association (ISDA) is making a strong case for more digitization of derivatives documentation. ISDA officials are also arguing that firms use ISDA Create, an online platform for negotiating, producing, and executing derivatives documentation. This includes the ISDA Master Agreements, variation margin credit support… Read More >>
E.U.’s Buy Side Wants T+1 to Happen Sooner
The German buy side is advocating for the earlier adoption of shorter T+1 settlement, amid growing calls for harmonization with the U.K. and Switzerland. The German Investment Funds Association (BVI), which represents 115 fund companies and asset managers with €4 trillion ($4.4 trillion) in assets under management (AUM), is pushing for the European Union to… Read More >>
