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 >>
Morgan Stanley Joins ICE Futures Abu Dhabi Exchange
IFAD Offers Hedging for Murban Oil Investment banking giant Morgan Stanley & Co. has joined the ICE Futures Abu Dhabi Exchange (IFAD), a new trading venue of exchanges operator Intercontinental Exchange, Inc. (ICE), officials say. Morgan Stanley will be an exchange and clearing member. To offer ways to trade and hedge Murban crude oil, ICE launched… Read More >>
Can Listed Derivatives Give Sustainability a Boost?
In case anyone thought otherwise, exchanges for derivative instruments do have a big role to play in facilitating sustainability, according to a joint report recently released by the World Federation of Exchanges (WFE) and the United Nations Sustainable Stock Exchanges Initiative (SSE). The joint report, “How Derivatives Exchanges can Promote Sustainable Development — An Action… Read More >>
SS&C Cuts Global Staff by 2.2 Percent
SS&C Cites Cost Containment for Layoffs SS&C Technologies Holdings, Inc., a provider of post-trade software-based services and systems, has laid off 2.2 percent of its global work force, according to a presentation of financial results for the first quarter of 2021, and full year, which ended March 31, 2021. “Earlier this month, we announced… Read More >>
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 >>
Lockdown Hit Dealers Harder Than Buy Side: Survey
Sell-side firms had a tougher time with post-trade operations during the depths of the pandemic-induced lockdown. But buy-side firms had their Ops woes too, according to a new report from the DTCC, the major post-trade infrastructure services and systems provider for the securities industry. Not surprisingly, the report finds that “cash fixed income and cash… Read More >>
Will Blockchain Deliver on Its Promises in 2021?
I think our lead fintech news brief about Instinet and Credit Suisse completing multiple equities transactions in T+0 via blockchain/distributed ledger technology [https://bit.ly/2OwJJWJ] may have more significance than at first glance. These two major players used the Paxos Settlement Service from Paxos Trust Company, a self-described infrastructure provide, to settle U.S.-listed equities trades on a… Read More >>
Wall Street Bonuses Up 10% for 2020: Report
A 10 percent rise in bonuses for Wall Street securities industry participants reflects how trading firms were able to overcome the pandemic-related challenges of 2020, says Thomas P. DiNapoli, comptroller for the state of New York, via his annual report upon payments made to employees beyond their salaries. However, trading firms have been relying on… Read More >>
Broadridge Acquires Itiviti for $2.5 Billion
Post-trade provider Broadridge Financial Solutions will be able to offer front-to-back-office systems and networking via its acquisition of vendor Itiviti Holding AB for approximately $2.5 billion from Nordic Capital. The all-cash transaction is valued at €2.143 billion and will add trading and connectivity technology offerings to the list of systems that Broadridge offers, officials say…. Read More >>
Electra Expands Global Operations & Adds Staff
Electra Information Systems, a provider of reconciliation and other post-trade services, is adding data centers and staff to improve its global infrastructure for operations processing that supports a growing number of clients across the United Kingdom (U.K.), Europe, and the Asia-Pacific regions, officials tell FTF News. In particular, Electra has added data centers in Sydney,… Read More >>
