The Australian Securities Exchange (ASX) has selected Tata Consultancy Services (TCS) to provide a clearing and settlement platform for the Australian market based upon TCS BaNCS for Market Infrastructure that will replace ASX’s incumbent CHESS system. The TCS BaNCS for Market Infrastructure has been designed for central securities depositories (CSDs), central counterparty clearinghouses (CCPs), exchanges,… Read More >>
FinTech Briefs: HSBC’s Digital Custody Platform Set for 2024 & Other News
HSBC Collaborates with Metaco HSBC officials recently announced that the international bank will launch a digital assets custody service for institutional clients that invest in tokenized securities. “Once live in 2024, HSBC’s new digital assets custody service will complement HSBC Orion, the bank’s platform for issuing digital assets, as well as HSBC’s recently launched offering… Read More >>
‘SIX Bot’ Could Ease Corporate Actions Ops Burdens
SIX has launched a software application, dubbed SIX Bot, that relays information on more than 70 corporate action event types to the popular Symphony instant messaging service with help from data sharing platform ipushpull, which facilitates chat and data integration, officials say. SIX Bot could ease corporate actions processing operations because it allows the front… Read More >>
DLT Hits Its Stride in Ops
Distributed ledger technology (DLT), a.k.a. blockchains, integrated with securities operations appears to be hitting its stride as global investment banks have revealed in a new survey that they want “effective integration” of DLT as a top operations and IT priority over the next three years. The new finding is part of the 2023 annual Future… Read More >>
Firms Are Rushing to Get Faster Data
Traditional financial institutions such as asset managers will have to embrace the speed of change if they want to speed up data velocity, according to SIX, an exchanges company and market and reference data provider. This was one of the main takeaways from the 2023 annual “Future of Finance” report from SIX. Nearly half, or… Read More >>
TD Securities Picks Paxos Settlement & Other News
TD Securities to Settle Commodities via Paxos TD Securities is using a system from Paxos that simultaneously settles cash and commodities trades in an effort to achieve full automation for settlement and to streamline operations for traditional and digital precious metals trades, officials say. TD Securities joins many other firms that are part of Paxos… Read More >>
Asset Owners Struggle to Move Beyond Spreadsheets
Pension funds, public funds, sovereign wealth funds (SWF), superannuation funds, endowments, and life insurance companies want to move away from spreadsheets and internally developed solutions used for portfolio management and asset allocation but IT complexities coupled with a shortage of expertise are thwarting their attempts to complete their digital transformations. This is according to the… Read More >>
DTCC’s OTC Service Tracks North American Derivatives Data
DTCC has launched a cloud-based service that offers over-the-counter (OTC) derivatives transaction data — dubbed OTC Direct Connect — in near real-time so that investment firms can evaluate faster the risk factors of quickly moving markets, according to the post-trade infrastructure provider. The new service, which facilitates access to data about OTC derivatives transactions in… Read More >>
CQG Founder Transfers Ownership to Senior Executives
A group of senior executives at trading software provider CQG has acquired the privately held company from owner Tim Mather, who founded the company in 1980, officials say. Mather and Ryan Moroney, the current CEO of CQG, have been “focused on a transition plan when he was ready to step away that would put the… Read More >>
Open Source Helps Wall Street Innovate Faster
(Gabriele Columbro, executive director for the Fintech Open Source Foundation (FINOS), spoke to FTF News about a variety of subjects during the Open Source in Finance Forum (OSFF) sponsored by FINOS and held in New York City last week. Columbro focused on the Common Cloud Controls (CCC) effort to formulate consistent controls for cloud computing… Read More >>
