In a bold step, BNP Paribas Securities Services has struck a partnership with renewable energy crowdfunding providers Lendosphere, Enerfip and Lumo to enable private companies to issue mini-bonds through distributed ledger technology (DLT). The platform, which is set to launch at the end of the year, aims to have transactions conducted more securely as well… Read More >>
New SmartStream RDU CEO to Push Ops Utility
SmartStream has found a true believer in the industry utility concept and has made industry veteran Peter Moss the next CEO of the SmartStream Reference Data Utility (RDU). The RDU is a managed service that delivers reference data for regulatory reporting, trade processing and risk management operations in a supposedly more cost-effective utility approach, officials… Read More >>
Why the DTCC Is Using Amazon’s Cloud
Something interesting is underway as far as cloud computing and securities operations — the Amazon Web Services (AWS) offering has been quietly gaining ground after some initial resistance. I recall that the main concerns about using the AWS cloud revolved around compliance and security. But Amazon zeroed in on the compliance and security demands and… 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 >>
Why Regulators Are to Blame for the MiFID II Delay
While U.S. and European authorities are finally making progress in harmonizing key rules and regulations, it’s becoming painfully clear that the lack of an initial, collaborative response among regulators to the global recession is hitting home for all securities firms. A case in point is the recently announced (and expected) new deadline for the Markets… Read More >>
Politics Can Kill a Move to the Utility Model
Internal political battles at securities firms can prevent them from considering cost-effective utility models for key operations, say officials at financial services consultancy Capco, which just released a global survey of banking executives’ reactions to utilities. Overall, Capco officials say that the survey finds that firms are “failing to take full advantage of the utilities… Read More >>
LSEG Eyes ETF Growth with XTF Acquisition
The London Stock Exchange Group (LSEG) has added to its exchange-traded fund (ETF) offering with the acquisition of XTF Inc., a US-based provider of ETF data, analytics and ratings. The transaction terms have not been disclosed but following the purchase, XTF will be integrated with LSEG’s Information Services Division, sitting alongside index provider FTSE Russell… Read More >>
Firms Warned to Keep MiFID II Momentum Going Despite Delays
Market participants should use any delay in the implementation of the revised Markets in Financial Instruments Directive (MiFID II) to develop a more strategic approach to compliance with the regulatory reforms, say industry observers. Firms should keep up the momentum as it’s unclear whether politics will play in the industry’s favor and add more time… Read More >>
GLEIF Takes Charge of the LEI Effort
Editor’s note: The Global Legal Entity Identifier Foundation (GLEIF), the body overseeing the Global Legal Entity Identifier (LEI) System, has taken center stage in the effort to promote the usage of the LEI standard. In fact, GLEIF has just launched the Global LEI Index, “a golden copy of all past and current LEI records including… Read More >>
Interactive Data SPreDs the Ops Costs with Trio of A-List Banks
Interactive Data Corp. is serving as a data provider to a new SmartStream reference data utility, nicknamed the Securities Product Reference Data (SPReD), which has the support of Goldman Sachs, JPMorganChase and Morgan Stanley for its potential to cut operational costs. The new utility offers services for instrument reference data normalization and validation across all… Read More >>