Many firms could be heading for “an operational disaster” caused by rising transactional volumes, soon-to-be-overwhelmed manual reconciliation processes, and a reliance on legacy systems, and outdated technology, according to a new report “The Tipping Point for Asset Management Operations: The rising costs of operational complacency” from provider AutoRek. The report, based on securities industry surveys,… Read More >>
SS&C Launches SaaS Updates for Geneva, Eclipse & OEMS
With alternative investment firms in mind, officials say SS&C Technologies is offering a variety of new features and functions via updated software-as-a-service (Saas) releases of the Geneva, Eclipse, and OEMS products and services platforms. “We tailor our releases to the global marketplace. The recent advancements in our alternatives solutions illustrate our commitment to them to… Read More >>
Recs Projects Still Seen as ‘Complex, Costly & Messy’
(Marc McCarthy has worked for 25 years in reconciliations. His career began as “a reconciler and then project/program manager at Tier 1 banks,” he says. He also had a secondary career in consulting, sales, and executive roles on the provider side. He launched ReconIQ, a London-based specialist in reconciliation advisory services during the second quarter… Read More >>
Automation for Recs & Settlement Is Up for Listed Derivatives
Participants in listed derivatives markets are improving the automation of trade settlement and reconciliation largely because of their ongoing investment in reference data, according to a new report from SmartStream Reference Data Services and Acuiti Management Intelligence. The findings of the report “The Future of Reference Data: From Compliance to Alpha,” are based on surveys… Read More >>
The Ops-A.I. Revolution Has Begun: SS&C’s Bill Stone
From Bill Stone’s perspective as chairman and CEO of SS&C Technologies, the fairly recent advances that SS&C has made into the Abu Dhabi market and with artificial intelligence (A.I.) are examples of the same thing — the company is breaking new ground literally and figuratively in the highly competitive world of post-trade systems, software, services,… Read More >>
FTF Unveils the 2024 FTF Awards Nominees!
Financial Technologies Forum (FTF) has unveiled the nominations for the 2024 FTF News Technology Innovation Awards competition, and the list of nominees reflects the dynamics of an industry facing digital transitions, a major effort to shorten settlement, and a final push to eliminate manual processes. The winners of the FTF Awards competition are chosen by… Read More >>
Davy Capital Markets Deploys Torstone Platform
Dublin-based brokerage Davy Capital Markets has gone live with the Torstone Post Trade Platform for middle- and back-office processing to bolster the Davy Group division’s operational efficiency and regulatory compliance, officials say. The Software as a Service (SaaS) platform is from Torstone Technology, a post-trade securities and derivatives processing provider, based in London. “This successful… Read More >>
FCMs Want Automation Over Headcount for Recs
Futures commission merchants (FCMs) offering sell-side clearing have been making “significant progress in automating” post-trade reconciliation since 2021 and want to apply technology rather than staff members to recs problems, according to the fourth quarter edition of the “Acuiti Sell-Side Clearing Management Insight Report.” However, firms have “some way to go to fully optimize the… Read More >>
Watson Wheatley to Use Daymi’s APIs & Other News
New Links Will Help Users Manage iRecs Projects Watson Wheatley, a London-based provider of securities reconciliation, and Daymi, an interactive operations playbook provider based in Stockholm, have launched a connectivity partnership that will enable operations teams to better manage recurring projects, routines and tasks, officials say. “Using the API [application programming interface] connection that… Read More >>
FINRA Fines Vanguard $800K for Inaccurate Fund Statements
Shouldn’t a firm like Vanguard Marketing Corp., (VMC) which has been a member of FINRA, the broker-dealer industry’s self-regulatory organization, since 1977, know better than to have allegedly “overstated projected yield and projected annual income for nine money market funds on approximately 8.5 million VMC account statements?” Says FINRA: “From at least October 2019 to… Read More >>
