The Accelerated Settlement Taskforce, initiated by the U.K. government to explore expediting the settlement of financial trades in the U.K., has released its latest report, advocating for the transition to T+1 by December 31, 2027. Speaking to FTF News, Charlie Geffen, chair of the task force, says a very clear theme has emerged: the U.K…. Read More >>
FTF Unveils the 2024 FTF Awards Nominees!
Financial Technologies Forum (FTF) has unveiled the nominations for the 2024 FTF News Technology Innovation Awards competition, and the list of nominees reflects the dynamics of an industry facing digital transitions, a major effort to shorten settlement, and a final push to eliminate manual processes. The winners of the FTF Awards competition are chosen by… Read More >>
SIX Expands Fixed Income Wares via FactEntry Acquisition
SIX, an exchanges and financial data company, reports that it has acquired a majority stake in FactEntry, a fixed income data and solutions vendor, as a way for SIX to strengthen its cross-asset data offerings for the front-, middle-, and back-office. The majority stake acquisition closed on March 27, 2024, and financial terms and deal… Read More >>
Swift Explores CBDC Links to FX, Tokens & Liquidity
The global Swift financial messaging cooperative has completed a collaborative “sandbox experiment” testing the interoperability of an interlinking solution for central bank digital currencies (CBDCs) intended to “simplify and speed up trade flows, unlock growth in tokenized securities markets, and enable efficient FX settlement,” officials say. CBDCs are the digital currencies likely to be issued… Read More >>
ESMA Survey Sheds Little Light on T+1 Impacts
The European Securities and Markets Authority (ESMA) has received inconclusive responses to key issues around costs, operational impact, and the effect on market liquidity of shortening the settlement cycle in the European Union (E.U.). The E.U.’s regulatory body overseeing financial markets deferred drawing conclusions on many aspects, opting instead to glean insights from North America’s… Read More >>
T+1 Could Spur Leaks About Sec Lending Intentions
Unease persists in the securities-lending industry as the transition to T+1 continues, driven by concerns over heightened information leakage risks and the necessity for substantial technological upgrades Earlier this month, Bloomberg Intelligence released research indicating that accelerating settlement cycles and the subsequent squeeze of securities borrow/lend processes could leave asset owners footing an eye-watering $24… Read More >>
Corporate Actions Pilot Takes Aim at Manual Processes
(Editor’s Note: In early March, DTCC officials conducted a two-phased pilot program to bring more automation to corporate actions (CA) processing. The effort addresses decades-long asset services challenges around the sourcing of corporate actions announcements via streamlining interactions across the agent and issuer community through standards and automation. The ultimate goal is to eliminate manual… Read More >>
BNPP AM Launches Global Net Zero Equity Fund
BNP Paribas Asset Management (BNPP AM) has launched the BNP Paribas Global Net Zero Transition Equity fund, a Luxembourg-domiciled equity fund that features “a strong focus on decarbonization and an overweight in sustainable investment,” officials say. The fund offers investors “exposure to a well-diversified strategy across sectors, regions, and market cap,” according to BNPP AM…. Read More >>
Shrinking Bonuses Pale in Comparison to the A.I. Threat
Many Wall Street participants, including middle- and back-office teams, are getting ready to celebrate a variety of spring holidays with the added bonus of a real bonus for their efforts last year. However, some may find that their bonuses have shrunk compared to last year. What may be more disturbing, though, is that a prominent… Read More >>
BBH Targets Securities Lending Ops Amid T+1
Brown Brothers Harriman & Co. (BBH) is offering a third-party solution intended to help firms avoid securities lending failures while processing transactions in the trading day plus one (T+1) settlement cycle that begins in late May of this year in North America. Hoping to smooth its North American clients’ transition to T+1, BBH is partnering… Read More >>
