Broadridge Financial Solutions has acquired for an undisclosed amount post-trade specialist Message Automation Ltd., making this the third major company purchased by Broadridge in its bid to broaden its post-trade and data analytics capabilities. Broadridge’s previous post-trade related acquisitions were: In June 2016, Broadridge expanded its global securities financing and collateral management capabilities via the… Read More >>
CloudMargin & SmartDX Tackle the Variation Margin Rule
Variation Margin Rule Takes Effect March 1 CloudMargin, at web-based collateral and margin management solution, and SmartDX, which provide trade and relationship document generation, collaboration and processing announced that they have partnered to address the daily variation margin (VM) rule that goes into effect March 1 in the European Union, United Kingdom, United States and… Read More >>
Deutsche Bank Shutters OTC Swaps Clearing for the U.S.
Deutsche Bank ended its over-the-counter (OTC) swaps clearing business for the U.S. market last week because of a streamlining push by bank officials to move out of profit-challenged businesses, according to a source familiar with the situation. For Deutsche Bank and other organizations offering clearing support, the OTC swaps clearing business in the U.S. has… Read More >>
Deutsche Börse Tests Blockchain Waters via Collateral Project
Four international, central securities depositories (CSDs) that are part of the “Liquidity Alliance” (LA) are joining forces with Deutsche Börse to develop LA Ledger, a blockchain/distributed ledger technology (DLT) initiative to ease cross-border mobilization of security collateral. The LA, which includes the Canadian Depository for Securities Ltd. (CDS), Luxembourg-based Clearstream, South Africa’s Strate and the… Read More >>
Global Markets to Brace for E.U. Regs in 2017
(FTF News is sampling the flurry of securities industry predictions that are hitting as 2017 becomes reality and 2016 starts to fade. This review of predictions will be presented in three parts this week. This is the first installment (click here for second installment and here for third installment) and it focuses on what may… Read More >>
CME Clearing Europe Gets DCO Green Light
CME Clearing Europe (CMECE), the London-based derivative clearinghouse, was granted registration as a derivatives clearing organization (DCO) by the CFTC, making it the seventh such foreign organization to receive the designation and the 16th overall. As both an authorized central counterparty clearinghouse (CCP) under the European Market Infrastructure Regulation (EMIR) regime and a registered DCO,… Read More >>
Regulatory Limbo Likely as Trump Repeals Dodd-Frank
(In this second installment of a two-part series, FTF News asked the head of a New York-based financial services regulatory consulting company, Mary Kopczynski, CEO of 8of9, and her staff about the new Trump administration and its plans to dismantle the Dodd-Frank financial reform legislation. Answers from her and her team are in the Q&A… Read More >>
Broker Deploys Torstone’s Back-Office System in Four Months
U.K. Firm Wants Cost-Effective, Scalable Back Office Liberum, a pan-European investment bank, signed a multi-year deal with Torstone Technology in July to deploy the vendor’s Inferno back-office system and went live earlier this month with the new system, achieving a four-month implementation, according to Liberum and vendor officials. An employee-owned firm, Liberum offers pan-European equity… Read More >>
New Rules Mean New Ops Model for Initial Margining
(New rules for initial margining for non-centrally cleared over-the-counter (OTC) derivatives went into effect September 1 when a new margin framework took hold via the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO). Regulators around the world have been to implement changes for firms trading in these instruments. Chris… Read More >>
Droit to Grow Operations With $16M Cash Injection
Droit Financial Technologies, an over-the-counter (OTC) derivatives trading systems vendor, is expanding operations to foster the acceptance of its real-time, decision-making engine for point-of-execution compliance. This is possible because of a $16 million, Series A minority investment via Goldman Sachs, Pivot Investment Partners and Wells Fargo. A principal trading firm, DRW, also participated in the… Read More >>
