Financial software and services vendor SS&C Technologies is acquiring Primatics Financial for approximately $122 million because of the surge in demand among SS&C clients for help with originating, buying, selling and securitizing loans, according to SS&C. SS&C announced on Monday that it will acquire Primatics via a cash and debt-free transaction with private equity giant… Read More >>
UnaVista Hires from Axiom SL
UnaVista, the London Stock Exchange Group’s matching, reconciliation and regulatory reporting platform, reports that Robert Grant has joined as head of business development, software for Americas. Grant has 25 years of industry experience and most recently served as senior vice president of sales at Axiom Software Laboratories, “where he also led marketing and business development… Read More >>
Misys Offers Trade Reporting Link to DTCC GTR
The Misys Regulatory Reporting Service (RRS) now offers connectivity to the DTCC’s Global Trade Repository (GTR), giving European corporates, fund managers and smaller banks another option beyond the service’s current link to the Regis-TR repository for over-the-counter (OTC) derivatives reporting mandated by the European Market Infrastructure Regulation (EMIR) legislation. The EMIR rules require all parties… Read More >>
Deutsche Bank FCM Settles with CFTC for $3M
The CFTC is ordering Deutsche Bank Securities (DBSI), a New York-based futures commission merchant (FCM), to pay $3 million to settle charges of improper investment of customer segregated funds, reporting and recordkeeping violations, and supervision failures. CFTC officials say they acknowledge the FCM’s “cooperation and corrective action” after deficiencies were discovered. A spokesperson for the… Read More >>
AxiomSL Targets Austria’s ‘Smart Cube’ Reporting
AxiomSL, a provider of regulatory reporting and risk management software, reports the launch of a solution that will enable banks to comply with Austria’s new Smart Cube reporting requirement, which will be implemented by the Oesterreichische Nationalbank (ONB), the country’s central bank, and will take effect June 15, 2015. The Smart Cube system is meant… Read More >>
Deutsche Bank Rolls Out AxiomSL to the Americas
German institution Deutsche Bank has expanded its relationship with financial technology provider AxiomSL (Axiom Software Laboratories), deploying the vendor’s regulatory reporting and capital calculations platform in its American branches after a previous rollout in Asian branches in 2012. Gordon Elliot, AxiomSL’s chief operating officer, says the platform Deutsche deployed consists of the vendor’s ControllerView and… Read More >>
Averting Deutsche’s Regulatory Reporting Woes
Long-term and wide-ranging problems with Deutsche Bank’s regulatory reporting processes have to come to light in a stern letter from the Federal Reserve Bank of New York (FRBNY) instructing Deutsche, in no uncertain terms, to immediately fix the problems identified. The letter and the scope of the problems it describes underscore both the challenges financial… Read More >>
AxiomSL & Wipro to Partner for Clients
Regulatory reporting solutions provider Axiom Software Laboratories (AxiomSL) is partnering with global outsourcer Wipro in a bid to broaden its appeal in the fast-growing risk and compliance services segment and to develop new products and services. “We realized a year ago that we had a great product but nobody knew we existed,” says Gordon Elliot,… Read More >>
