(Todd Sloan, business development, senior vice president, Electra Information Systems, took time out of his schedule to give FTF News a progress report on Electra Information Systems. The provider of reconciliation and other post-trade solutions, Electra is the winner of the 2020 FTF News Technology Innovation award for “Best Reconciliation Solution” for the fifth consecutive… Read More >>
RJO Expands MENA Presence via Acquisition
RJO Acquires Lombard Forte Securities R.J. O’Brien & Associates, a Chicago-based futures brokerage and clearing firm, is expanding its presence in the Middle East via its acquisition of Lombard Forte Securities Ltd. (LFS), a Dubai-based interdealer broker (IDB). RJO, which acquired LFS through its affiliate RJO MENA [Middle East & North Africa] in Dubai, is… 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 >>
Wall Street Braces for a Safe Return
Wall Street is moving cautiously toward reopening and Monday, June 22, will serve as a milestone for when the securities industry took its first step into the new normal following a crushing pandemic that took 21,000 lives in New York City and brought the world to a halt. After three months of a pandemic lockdown,… Read More >>
Task Force Takes On Global Post-Trade Woes
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of a special panel that focused last year on the $20 billion spent annually on a “patchwork of manual or outdated technological processes” that support post-trade operations at firms across the globe.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 >>
BrokerTec & triResolve Push to Advance Repo Automation
Fixed income electronic trading platform BrokerTec has joined forces with derivatives infrastructure services vendor TriOptima to offer more automation across the mostly manual lifecycle of a repo trade, officials say. The intention is to improve the repo trade workflow, Raf Pritchard, head of triResolve at CME Group, tells FTF News. The triResolve group is part… 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 >>
Firm Launches Trading System Despite Pandemic
An Australian specialist fund manager, Atlas Infrastructure, went live with Indata’s Architect AI OMS and portfolio management solution this month despite the disruptions cause by the COVID-19 pandemic, and with the vendor’s help, completed a deployment remotely. The travel restrictions caused by the pandemic meant that Indata worked with Atlas “completely on a remote basis… Read More >>
