ICAP, an interdealer broker and post-trade IT vendor, is acquiring a regulatory reporting specialist, Abide Financial, in order to integrate Abide’s wares into ICAP’s Post Trade Risk and Information (PTRI) offerings, targeting the growing demand among trading firms for solutions to help them comply with multiple regulatory authorities, officials say. ICAP’s investment arm for emerging… Read More >>
IBM’s Watson to Get Compliance Training via Acquisition
IBM is acquiring risk management and regulatory compliance consulting company Promontory Financial Group, and will be adapting the IBM Watson cognitive capabilities — the natural language processing and machine learning — to regulatory compliance. In fact, IBM hopes to replicate for compliance the IBM Watson capabilities that have been applied to clinical medical data, research,… 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 >>
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 >>
Media Reports Say Misys Owner Mulling IPO
Misys, a 37-year-old banking and capital markets software systems provider, may be entering the public markets again, according to media reports about the matter. In mid-August, The Times of London, citing industry sources, ran with a story that Misys was getting ready to launch a £5.5 billion ($7.3 billion) listing via the London Stock Exchange…. Read More >>
Pending LSE-Deutsche Börse Union Faces Antitrust Pushback
Shareholders may have given their seal of approval but the fate of the Deutsche Börse and London Stock Exchange Group’s £21 billion ($27.7 billion) merger is now in the hands of roughly 40 regulatory bodies around the world. While a handful including the U.S. and Russian authorities have given the union the green light, getting… Read More >>
Ops for New Cap Reqs Could Get Costly
Tier-1 banks face implementations costs ranging from $60 million to $150 million over the next three years as they strive to meet the revised standards for minimum capital requirements for market risk set by the Basel Committee on Banking Supervision, according to a new report from market research firm Celent. “As firms execute implementation efforts… Read More >>
HTG Capital Buys Three of Kottke’s Businesses
HTG, Kottke to Form a ‘Strong Team’ HTG Capital Partners, a liquidity provider for listed and over-the-counter (OTC) derivatives instruments, is slated to acquire the introducing broker, money management and proprietary trading businesses of Kottke Associates, creating “a strong team” to take on the futures industry, say officials. HTG and Kottke Associates, which is a… Read More >>
FINCAD Debuts Web App for F3 System
FINCAD, a valuation and risk analytics vendor for derivatives portfolios, has added a web-based portfolio analytics and risk application to its F3 offering in an effort provide a more straightforward interface and improved usability, officials say. The FINCAD F3 with the new F3 WorkStation is being targeted at quants, portfolio managers, traders, and risk managers… Read More >>
Banks Still Store Risk-Related Data in Silos: Study
Banks have been keeping risk-related data in silos for decades despite the fact that this has been a well-documented problem. A new study by risk management consultancy, InteDelta, and financial data management solutions provider, Asset Control, shows that in many cases the walls have not been broken down. The survey, which interviewed 13 banks between… Read More >>
