Baton Systems is working with the Collateral Services team at JPMorgan to help the investment bank’s tri-party clients automate and optimize their collateral management to meet the margin call demands of 13 central counterparty clearinghouses (CCPs) across the globe, officials say. For this collaboration, the Core-Collateral solution from Baton will be integrated into the CCP… Read More >>
Cyber Threats Seen as a Major Risk for 2024
Securities firms are foreseeing cybersecurity risks as one of their top concerns for next year as cybers-attacks remain one of their top five risks as revealed in an annual Systemic Risk Barometer Survey done by DTCC officials. Cybersecurity concerns constitute one of the top five risks identified in every survey since 2013 when the DTCC… Read More >>
FinTech Brief: TT Launches Two Business lines
Trading Technologies International (TT), a capital markets technology platform provider, has launched two lines of business — TT Compliance and TT Quantitative Trading Solutions (QTS) — to boost TT’s move into new asset classes, officials say. “The two dedicated lines of business build on TT’s past offerings … that were strengthened by TT’s acquisitions of… Read More >>
FinTech Brief: BMLL Expands Data Coverage in Canada
BMLL, an independent provider of Level 3 data and analytics, is expanding its data coverage to include more Canadian exchanges, which will operators to better analyze venue performance and liquidity dynamics against local and global peers, officials say. The expansion means that Level 3 data is now available from all major Canadian trading venues and… Read More >>
T+1 Testing: Concerns Emerge Amid Progress
In the sprint toward the T+1 transition to shorter settlement in May 2024, the official line from the Depository Trust & Clearing Corp. (DTCC) is that testing is proceeding smoothly. Behind the scenes, there are concerns regarding end-to-end testing, buy-side participation, and a dearth of operational testing. Val Wotton, managing director and general manager of… Read More >>
FinTech Brief: CME to Unify NDF Liquidity Pools
CME Group will combine its two non-deliverable forward (NDF) liquidity pools on the Electronic Broking Services (EBS) Market platform onto a single trading venue by October 2024, depending upon regulatory approval, officials say. The combination will bring together market participants “across regulatory jurisdictions” in a unified global trading environment to improve market efficiency, according to… Read More >>
FinTech Brief: ISO & SOC Certify Oxane’s Offerings
Oxane Partners, a solutions provider to private markets, has achieved global information security accreditations by completing Systems and Organizations Control (SOC) audits and the International Organization for Standardization (ISO) 27001 certifications, officials say. “The completion of SOC audits (SOC 1, SOC 2, and SOC 3) emphasize Oxane’s strong controls over financial reporting, and handling of… Read More >>
FinTech Brief: CAIS Expands Collaboration with Pershing
CAIS, an alternative investment platform for independent financial advisors, has expanded its relationship with the Pershing clearing, custody, and wealth management services division of BNY Mellon. The expansion was announced late last month “after the launch of CAIS Solutions, a new SaaS [Software as a Service] platform,” which applies CAIS technology to centralize and streamline… Read More >>
FinTech Brief: Northern Trust to Support Costco’s DC Plan
Costco Wholesale Corp. has selected custodian bank Northern Trust to provide custody, daily valuation, and brokerage services for Costco’s defined contribution (DC) retirement plan, with $29 billion in assets, officials say. Costco, based in Seattle, is known as the world’s third-largest retailer and operates 861 warehouses, including 591 in the United States and Puerto Rico…. Read More >>
A Climate Data Platform Prototype Debuts at COP28
Inadvertently, I have stumbled upon another climate-related bit of news. This time it’s about the Net-Zero Data Public Utility (NZDPU), described as “a unified, global, open climate data repository” whose information can be used by many sectors including financial services. A variety of securities firms would welcome free, reliable data about the climate change efforts… Read More >>
