Post-trade systems and services provider DTCC is acknowledging that an emerging disruptive trend — tokenized securities — may soon need a legal and regulatory framework formulated via regulators, trading venues, and the post-trade operations staffs of industry participants. The DTCC is also acknowledging that because of its unique position in the securities operations industry, it… Read More >>
SmartStream & Numerix Partner to Ease IM Requirements
Two Vendors Focus on Noncleared OTC Derivatives SmartStream Technologies, a post-trade systems and services provider, and Numerix, a risk technology vendor, report an agreement intended to better support end users in complying with the International Swaps and Derivative Association’s (ISDA) standards governing margin requirements for non-centrally cleared derivatives. In order to facilitate the over-the-counter (OTC)… Read More >>
Mizuho London Deploys Consolidated Trading & Risk Platform From Orchestrade
Mizuho Bank in London has implemented a consolidated trading and risk management platform that will allow the bank to have a consistent view of P&L and risk in near real-time via an open application programming interface (API) framework. The bank has replaced a legacy system that could not support current volumes and risk requirements with… Read More >>
FRTB Deadlines Coming Faster Than You Think: Q&A
(Based in Paris, Murex serves financial services firms via solutions for securities trading, treasury markets, risk management, and post-trade operations. A majority of the voters in the FTF News Technology Innovation Awards competition selected Murex’s MX.3 as the Software Solution of the Year for 2107. We got time with Frank Heanue, who is head of… Read More >>
DTCC Bolsters Support for SFTR Reporting via Partnerships
Financial services firms are gearing up for the reporting requirements of the Securities Financing Transaction Regulation (SFTR), and the DTCC is partnering with EquiLend, Trax, IHS Markit and Pirum to improve its global trade reporting capabilities before the SFTR rules take effect by the end of next year. Even though SFTR originated with the European… Read More >>
New SmartStream Team to Investigate AI for Ops
SmartStream Creates ‘Innovations Team’ SmartStream Technologies, which characterizes itself as a financial transaction lifecycle management provider, reports that its new “innovations team” is “working with financial institutions to optimise workflows, using Artificial Intelligence (AI), Machine Learning (ML) and blockchain technologies, in the areas of reconciliations, cash management and fees and expense management.” The new… Read More >>
Goldman Sachs VP Charged with Insider Trading
An investment bank vice president has been arrested and stands accused in a SEC complaint filed in a New York federal court of using a nominee trading account, held in the name of a close friend, to make “numerous” securities trades on material nonpublic information (MNPI). According to the SEC complaint, Woojae Jung, 37, a.k.a…. Read More >>
Startup Dakota Wealth Management Picks Pershing Advisor Solutions
New Firm Taps Pershing Advisor Solutions BNY Mellon’s Pershing Advisor Solutions has been picked as a custody partner for Dakota Wealth Management, a newly launched investment management firm. Dakota, headquartered in Palm Beach Gardens, Florida, currently manages $600 million in client assets, according to a statement, which notes that the average registered investment advisor… Read More >>
Spanish Firm Revamping Ops via IBOR
A major wealth and asset management firm in Spain, CaixaBank Asset Management, is revamping front-to-back office operations via an Investment Book of Record (IBOR) approach that uses one source of real-time data, delivered enterprise-wide for positions, cash and exposure. The firm will be using a SimCorp Dimension-based IBOR to address its data management issues, and… Read More >>
Federal Reserve Kicks Off Volcker Rule Revamp
The Federal Reserve at its May 30 meeting unveiled changes to the controversial Volcker Rule — which prohibits proprietary trading and banks from owning hedge funds or private equity funds — in a move widely seen as a response to industry pressure and is in keeping with the will of the Trump administration. Fed officials… Read More >>
