With the addition of Uniswap (UNI) and Arbitrum (ARB) to its custodial platform, Prometheum Ember Capital will offer custodian support for three digital asset securities, as the firm previously announced custody services for Ethereum’s ether (ETH) token. Prometheum Capital officials say the firm intends to fully launch its custodial services to institutional investors later this… Read More >>
Valverde Taps Broadridge for Investment Management System
Newcomer Valverde Investment Partners, a Singapore-based investment management firm specializing in ASEAN equities, will be using a portfolio/trade order management operations system from Broadridge Financial Solutions, officials say. The investment management solution is delivered on a software as a service (SaaS) basis and “provides a multi-asset platform with integrated order, portfolio, and risk management for… Read More >>
Derivatives Document Negotiations Need More Automation
After conducting a survey on document negotiation, the International Swaps and Derivatives Association (ISDA) is making a strong case for more digitization of derivatives documentation. ISDA officials are also arguing that firms use ISDA Create, an online platform for negotiating, producing, and executing derivatives documentation. This includes the ISDA Master Agreements, variation margin credit support… Read More >>
Firms Need to Prepare for Sec Lending Reporting
(Last year, the SEC approved Rule 10c-1a, intended to bring new transparency to securities lending transactions via reporting and dissemination requirements. Earlier this year, the Financial Industry Regulatory Authority (FINRA) proposed a new facility allowing covered securities loan transactions to be reported to the self-regulatory organization (SRO) for U.S. broker-dealers. The proposed system, the Securities… Read More >>
IPC Bolsters Ops Links via Google Cloud Alliance
(Editor’s note: Communications and cloud connectivity provider IPC has become a Google Cloud Interconnect Partner, a collaboration intended to help IPC customers link to Google Cloud locations globally. The agreement will enable financial institutions that use IPC’s Connexus Cloud for order creation and placement, trade execution, market data delivery, clearing, settlement, and access to trade… Read More >>
E.U.’s Buy Side Wants T+1 to Happen Sooner
The German buy side is advocating for the earlier adoption of shorter T+1 settlement, amid growing calls for harmonization with the U.K. and Switzerland. The German Investment Funds Association (BVI), which represents 115 fund companies and asset managers with €4 trillion ($4.4 trillion) in assets under management (AUM), is pushing for the European Union to… Read More >>
Vistra Bolsters Fund Admin Services via Acquisition
Professional services provider Vistra has completed its acquisition of the fund administration and transfer agency business of Phoenix American Financial Services, Inc., officials say. The acquisition did not include Phoenix American’s aviation services business. “This transaction will expand Vistra’s presence and capabilities in the business-critical U.S. market, allowing it to provide deeper and broader end-to-end… Read More >>
Johnson Associates Projects Bonuses Up for Most Sectors
Recent market swings, jitters, and recession fears aside, bonuses may wind up higher for most Wall Street sectors after two years of steady declines, says Johnson Associates, Inc., a strategic compensation solutions provider based in New York City. The company is projecting “year-end incentives to be higher across almost all sectors” in its “Financial Services… Read More >>
Rathbones Group Deploys Xplan from Iress
The London-based Rathbones Group is live on the Xplan advice software from financial technology provider Iress to support Rathbones’ financial planning business, officials say. Financial services firm Rathbones provides individual wealth management, asset management and related services to private clients, charities, trustees and professional partners, officials say. “Xplan will also be the financial planning platform… Read More >>
Macro Hedge Fund Maniyar Capital to Close
Hedge fund Maniyar Capital Advisors, based in London, England, is shutting down and has begun alerting its investors that they will have their redemptions by October 1 of this year, according to a Bloomberg report and an industry source. On its website, the firm describes itself as “an investment management firm focused on discretionary macro… Read More >>
