The New York Stock Exchange has launched the NYSE Tech Council, a group of senior technology leaders that will explore best practices for artificial intelligence, cybersecurity, and other cutting-edge technologies. “The council will be comprised of chief technology officers, chief information officers and other C-suite technology leaders from NYSE-listed companies,” according to the announcement. “With… Read More >>
T+1 is Stealing the Spotlight from Securities Lending
(Editor’s note: This past October, the Securities and Exchange Commission adopted Rule 10c-1a in an effort to increase the “transparency and efficiency of the securities lending market,” according to the SEC. The new rule required the reporting of “specified information about securities loans to a registered national securities association (RNSA)” by 2026. The new rule… Read More >>
RIAs & ERAs Face New Regulatory Obligations
Registered investment advisers (RIAs) and exempt reporting advisers (ERAs) may have to develop customer identification programs (CIPs) to prevent “illicit finance activity” involving their customers because of a joint effort by the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The SEC and FinCEN on May… Read More >>
Cornerstone FTM Goes Live With High-Velocity Platform
Hedge fund Cornerstone FTM has gone live with “a cutting-edge” investment platform that leverages the portfolio support, custody, and fund administration services of Northern Trust and the infrastructure and data management offerings of Equity Data Science (EDS), a business partner of Northern Trust. The collaboration between Northern Trust and EDS, which provides the real-time quantitative… Read More >>
Franklin Templeton & Microsoft to Develop A.I. Platform
Asset manager Franklin Templeton and Microsoft are collaborating to develop a platform for financial services that uses artificial intelligence (A.I.) technology to initially improve the productivity of the firm’s sales and marketing teams and to foster personalized services for clients. The new A.I. platform to come will use Microsoft Azure A.I. services such as Azure… Read More >>
Performance Teams Are at a Crossroads
Advances in technology and workflow management appear to be changing forever the work of performance measurement teams and how they accomplish it, according to a new white paper “In the Thick of It: How Performance Teams are Driving Value Across the Organization,” from FactSet. For instance, nine out 10 respondents to the survey — upon… Read More >>
Finastra Taps OpenFin to Bolster Kondor
Finastra, a financial software applications and marketplaces provider, is collaborating with OpenFin to improve the user experience of Finastra Kondor, a well-established bank treasury management system, officials say. The OpenFin technology is intended to strengthen Kondor “with enhanced workspaces and workflows to drive greater efficiencies and streamline the decision-making process for banks,” according to the… Read More >>
T+1 Self-Affirmation Rates Below Expectations
The DTCC is urging investment managers and custodians to collaborate on technology and automation solutions after its latest statistics on the industry’s affirmation progress revealed a disparity in affirmation rates between those using manual processes and those utilizing centralized matching tools. With the implementation of a T+1 settlement cycle in the U.S. less than a… Read More >>
SEC Report Offers Useful Stats On Trillions of Dollars
The SEC mostly taketh when it comes to data, regulatory forms, and ongoing reports. But every once in a while the regulator giveth as far as key data about trillions of dollars flowing through the securities industry. In particular, SEC staff has just released a new report, “Registered Fund Statistics,” that is based on “aggregated… Read More >>
TMX, Clearstream & 5 Banks Launch Tri-Party Repo Service
TMX Group and Clearstream have launched the first domestic tri-party repo capability for the Canadian market, dubbed the Canadian Collateral Management Service (CCMS), which has already transactions via the support of BMO, CIBC, RBC, Scotiabank, and TD, officials say The service will support collateral management within the shorter, T+1 settlement requirements that take effect later… Read More >>
