Officials at Baton Systems report that the provider of connectivity and networks for settlement and collateral management has established direct links to the DTCC’s Fixed Income Clearing Corp. (FICC) and to its other clearing subsidiary, the National Securities Clearing Corp. (NSCC). The new links are “in response to client demand and the anticipated surge in… Read More >>
Instinet Sells Fox River Business to Clear Street
Brokerage firm Clear Street, which leverages cloud-native, financial technology, has acquired the Fox River algorithmic trading business of brokerage Instinet, which only two years ago purchased the group from FIS. In October 2023, Instinet completed the purchase of the FIS Execution Services business, previously known as Fox River, from FIS. The original purchase agreement was… Read More >>
Clearing Reforms Need to Be Consistent Globally: WFE
Securities clearing has seen many reforms since the Great Recession, but these overhauls such as the improved management of credit, market and liquidity risk still need to be consistently implemented across the globe, according to a new report from the World Federation of Exchanges (WFE) and Oliver Wyman. The report, “The Future Of Clearing,” finds… Read More >>
Canadian Securities Exchange Embraces Blockchain & Tokenized Technologies
The Canadian Securities Exchange (CSE) reports that it will introduce a securities clearing and settlement platform that employs blockchain technology, and that will “enable companies to issue conventional equity and debt through tokenized securities, which would be offered to investors through security token offerings (STOs).” “Unlike blockchain-based cryptocurrencies,” says the CSE, which bills itself as… Read More >>
