Global investment company and asset manager Abrdn plc, formerly known as Standard Life Aberdeen, is continuing its long-term transfer agency relationship with SS&C Global Investor and Distribution Solutions (GIDS) for its U.K. and Luxembourg fund ranges and will extend that coverage for its Singapore efforts, officials report. SS&C GIDS, which is part of SS&C Technologies,… Read More >>
Wall Street Profits Jump 79% for H1 2024
Securities-trading firms in New York City — the actual Wall Street institutions — appear to be sailing to a “dramatic” increase in profits for 2024 and that could mean bigger bonuses next year, according to an annual report from the Office of the New York State Comptroller (OSC) headed by Thomas P. DiNapoli. “Wall Street’s… Read More >>
Time to Integrate Digital Asset Securities?
(Jacek Bugaj, the new head of product at Prometheum Inc., is on a mission to integrate the emerging benefits of digital asset securities within traditional market infrastructure. Bugaj will oversee the development, launch, and maintenance of Prometheum’s suite of products, which are delivered via SEC-registered and FINRA-member entities Prometheum ATS and Prometheum Capital. His mission… Read More >>
Trading Technologies Creates a Platform Services Unit
Trading Technologies International (TT) has created a Platform Services business unit from its global product development and services teams to optimize core functions, reduce functional enhancement development times, and speed up service resolution efforts, officials say. Jason Shaffer will assume the new role of chief platform officer and will oversee the newly integrated unit. Vasco… Read More >>
BlackRock & Morgan Stanley Embrace Desktop Integration Standard
A greater level of desktop application interoperability between buy- and sell-side firms may be coming as BlackRock and Morgan Stanley embraced an open source standard overseen by the Fintech Open Source Foundation (FINOS), which held its annual Open Source in Finance Forum in New York City (OSFF NY) last week. The standard known as FDC3… Read More >>
SS&C Widens Its Embrace of Cutting-Edge Technologies
Chicago-based Choreo, LLC, a financial planning and investment advisory services firm, reports using SS&C Accord. This new service leverages artificial intelligence (A.I.) to help wealth managers aggregate and validate their customers’ alternative investment data. The SS&C Accord launch aligns with other A.I.-related and cutting-edge announcements at the SS&C Deliver 2024 Conference underway in New Orleans, Oct…. Read More >>
SEC Bolsters Security for the EDGAR Platform
In case you missed it, the Securities and Exchange Commission adopted “rule and form amendments” late last month that the SEC says will improve the security of its Electronic Data Gathering, Analysis, and Retrieval system, otherwise known as the venerable EDGAR platform. The improvements cover the access and management of filers’ accounts and have been… Read More >>
Deadline Looms for Non-Centrally Cleared Bilateral Repos
A regulatory rule for the collection of data for non-centrally cleared bilateral U.S. repurchase agreements (repos) has a compliance date — December 2 — that is less than three months away. In May, the Office of Financial Research (OFR) without much fanfare adopted a final rule to “improve transparency within the U.S. repurchase agreement (repo)… Read More >>
Meritsoft Targets Dividend Claims Management
A provider of post-trade process automation solutions, Meritsoft has launched an asset-servicing solution that automates coupon and dividend claims operations. The new offering leverages the company’s post-trade platform, which debuted in October 2023, officials say. The new solution automates “the traditionally manual process of matching corporate actions-related claims received through emailed PDF or CSV attachments… Read More >>
Is T+1 in North America a Partial Victory?
The Securities Industry and Financial Markets Association (SIFMA), Investment Company Institute (ICI), and the Depository Trust & Clearing Corp. (DTCC) released a report early last month declaring victory in the push for a shorter settlement cycle for markets in North America. However, the report fails to address some of the issues that have emerged over… Read More >>
