IPC, a trading communication and networking solutions vendor, is working with two cutting-edge technology providers — Digital Reasoning and OpenFin — in an effort to help financial services firms take steps to update legacy IT infrastructures and improve their productivity. The latest collaboration is with Digital Reasoning, an artificial intelligence (A.I.) solutions provider. The new… Read More >>
Broadridge Partnership Yields Corporate Bond Trading Platform
Post-trade systems and services provider Broadridge Financial Solutions reports that it’s partnering with Jim Toffey, founder of Tradeweb and now CEO of LiquidX, and has added artificial intelligence technologies to a Broadridge fixed income post-trade processing offering to create a corporate bond trading platform, dubbed LTX. The new platform has already been used to execute… Read More >>
Liquidnet Hires from Goldman Sachs
Ex-Goldman MD Is New Head of Equities Tech Liquidnet, a block liquidity and investment network services provider, reports that it has named Sujay Telang as its new head of equities technology. Telang is a former Goldman Sachs managing director and an electronic trading executive, the vendor notes. Liquidnet officials call their new hire the “latest… Read More >>
OpenGamma & IHS Markit Target Margining Rules
OpenGamma & IHS Markit Begin Collaboration OpenGamma, which characterizes itself as a margin optimization provider, reports a new collaboration with IHS Markit, which characterizes itself as a provider of critical securities information, analytics and solutions. The vendors are jointly offering a system for mutual clients looking to reduce the cost of margin management. Their offering… Read More >>
Cboe Postpones Trading Floor Reopening
Cboe Global Markets has postponed the re-opening of its “South Loop” trading floor until Monday, June 15, a week later than previously announced. The reopening of the officially named Cboe Options Exchange (C1) trading floor “was previously scheduled for Monday, June 8, 2020,” according to the latest Cboe statement. “The decision to postpone the reopening… Read More >>
Stifel Nicolaus Fined $3.6M on UIT Violation Charges
Stifel, Nicolaus & Co., Inc., an investment bank, has been fined $3.6 million by FINRA, a regulatory authority for the financial services industry, for allegedly having an inadequate supervisory system in place to detect potentially unsuitable unit investment trust (UIT) rollovers, and also for failing to provide customers with accurate information so they can make… Read More >>
DTCC Tests DLT’s Usage for Post-Trade Ops
Post-trade infrastructure provider the Depository Trust & Clearing Corp. has launched two experiments — dubbed Project Ion and Project Whitney — that are collaborative industry efforts to investigate how distributed ledger technology (DLT) might strengthen post-trade processes such as the elimination of manual processes in the private markets, and new securities settlement via public markets,… Read More >>
Firms Need Collaboration to Keep Up: Q&A
(In the past, some financial services firms have been known to follow the mantra of “if it ain’t broke, don’t fix it,” notes Mark Bolton, head of international sales for Gresham Technologies. Yet the financial technology landscape has been changing fast and firms will have to keep up or risk having “solutions that are unable… Read More >>
CAT Helps Sell Side Boost Regulatory Ops: Q&A
(The Consolidated Audit Trail (CAT) was in the headlines last month as the SEC revised the CAT reporting timeline for broker-dealers due to the complications caused by the COVID-19 pandemic. The new milestones for CAT reporting in 2020 are: June 22: initial equities reporting for large broker-dealers and small broker-dealers that report to FINRA’s Order… Read More >>
IHS Markit Acquires Trade Reporting Vendor
Catena Technologies Becomes Part of IHS Markit IHS Markit, a market data, analytics and solutions vendor, reports that it will be able to offer a solution that integrates transaction reporting with other post-trade and compliance workflows via the acquisition of Catena Technologies, a regulatory trade reporting provider for an undisclosed sum. The combination with IHS… Read More >>
