The Bank of England is setting up a task force to implement the recommendations of a special panel that focused last year on the $20 billion spent annually on a “patchwork of manual or outdated technological processes” that support post-trade operations at firms across the globe. The Post‑Trade Technology Market Practitioner Panel of the U.K.’s… Read More >>
Money Laundering Analysis Needs AI & ML: Q&A
(Editor’s note: False positives are a problem for financial services firms implementing know your customer (KYC) and anti-money laundering (AML) systems, says Arin Ray, a senior analyst with the Securities and Investments practice of market research firm Celent, a division of Oliver Wyman. Ray is the author of the recent Celent report, “Applying Advanced Analytics… Read More >>
SS&C Advent’s Moxy & APX Get New Data Links
SS&C Technologies Holdings, Inc. has created a new layer of data integration between its Advent Moxy trade order management system (TOMS) and Advent Portfolio Exchange (APX) offerings that will allow end-users to set up automatic, real-time synchronization of common data that will let front- and back-office staff work from the same, current information. The data… Read More >>
Broadridge Grows Canadian Business via RPM Purchase
Post-trade systems and services provider Broadridge Financial Solutions, Inc., is bolstering its Canadian wealth management business by acquiring RPM Technologies, a Toronto-based enterprise wealth management software solutions and services vendor, for approximately $300 million from RPM’s owner private equity firm Bayshore Capital Inc. Broadridge reports that it has signed a purchase agreement to acquire RPM’s… Read More >>
JPMorgan Explores New Blockchain for Debt Issuance
JPMorgan Tests Involve National Bank of Canada JPMorgan tested “a new blockchain platform” for debt issuance with the National Bank of Canada and other large financial services firms, officials announced on April 20. JPMorgan is “is seeking to streamline origination, settlement, interest rate payments and other processes,” according to an official statement. For the test,… Read More >>
SIX Securities, Clearstream Partner to Target Ops Woes
SIX Securities Services, the Swiss central securities depositary (CSD), and Clearstream, an international CSD, are joining forces to develop new services and solutions to better combat tighter regulation, reduced margins and increased competition. It has been well documented that regulation such as the E.U.’s Markets in Financial Instruments Directive II (MiFID II) and the European… Read More >>
Firms Must Detect Cyber-Attacks Faster
(Editor’s note: Stephen Scharf, the chief security officer (CSO) at the DTCC, oversees the centralization and alignment of the post-trade infrastructure provider’s global information and physical security, employee safety, and crisis/incident management functions, officials say. Before the DTCC, Scharf served as global chief information security officer at Experian, responsible for the strategy, leadership and governance… Read More >>
FTF Focus Spotlights the 2016 FTF Awards Winners
For the sixth year in a row, Financial Technologies Forum (FTF) sponsored the FTF News Technology Innovation Awards competition to help securities industry professionals shine the spotlight on the outstanding companies, individuals and industry groups that have achieved excellence in post-trade operations. The key winners for 2016 are featured in the special Awards Issue… Read More >>
Tullett Prebon Buys CME’s Hybrid Trading IT
Interdealer broker Tullett Prebon is acquiring from CME “a long term license of a hybrid trading technology” that it will further develop internally “to provide bespoke, proprietary, customer-facing capabilities,” officials say. Tullett Prebon has been busy lately, having purchased the hybrid, U.S. voice-broking business operations of Creditex from the Intercontinental Exchange (ICE), and before that… Read More >>
SmartStream’s President Pushes the Utility Model
(Editor’s Note: In the forthcoming FTF Focus magazine edition that features in-depth coverage of the FTF News Technology Innovation Awards, we are featuring a profile of Philippe Chambadal, the president of SmartStream, who was voted FinTech Person of the Year. As we found out in this teaser version of the profile, Chambadal shows no sign… Read More >>
