The SEC is changing key rules governing how money market funds are handled during times of market stress and is imposing increases in minimum liquidity requirements to “provide a more substantial buffer” amid rapid redemptions, according to the regulator. However, as the 3-2 vote of the commissioners reflects there is controversy over these amendments of… Read More >>
Aladdin Links to LTX’s Liquidity Cloud & Other News
Aladdin & LTX Users Get Cross-Platform Access BlackRock’s Aladdin platform has a new channel to liquidity via its integration with the Liquidity Cloud offering from LTX, a subsidiary of Broadridge Financial Solutions, and the link helps common clients of LTX and Aladdin to access trading functions of both platforms, officials report. LTX is a… Read More >>
Saxo Bank Told to Dump Crypto Assets
Saxo Bank A/S’ trading in crypto-currency assets for its own account was “outside the legal business area of financial institutions,” according to a recent ruling by the Danish Financial Supervisory Authority, which ordered the Copenhagen-based bank to “dispose of its own holdings of crypto assets.” “On 4 July 2023, the Danish Financial Supervisory Authority [FSA]… Read More >>
Evidology Systems Applies A.I. to Compliance & Other News
QED Platform Uses A.I. for Deeper Analysis Regulatory technology provider Evidology Systems reports that the company is using artificial intelligence (AI) technology to implement extensions of its core QED (Quality and Evidence Driven) platform to enable scenario analysis of its underlying model “inside third-party applications and workflows.” The QED platform is a “unique combination of… Read More >>
Confluence Technologies Unveils TSR Tool & Other News
New Tool Helps Firms Meet SEC Rule Confluence Technologies has unveiled “Confluence Unity Rex,” which it says is a tool that will help firms comply with the SEC’s Tailored Shareholder Reports (TSR) rule. The solution provider says that Confluence Unity Rex “mines and pinpoints discrepancies in language and numeric information between financial reports,” and that… Read More >>
The Crypto Cowboys Must Play by the Rules
In mid-June, the state of New York stopped CoinEx, a Hong Kong-based firm, from offering its virtual currency trading platform to investors in all U.S. markets. CoinEx’s global platform helps investors buy and sell cryptocurrency via its website and mobile app. But there was a catch for its U.S. clients. The company did not register… Read More >>
Credit Suisse Unit Fined for Alleged TRACE Woes
FINRA has fined and censured Credit Suisse Securities (USA), a division of the former Credit Suisse, for reporting 9,000 late trades to the self-regulatory organization’s Trade Reporting and Compliance Engine (TRACE) and for hundreds of thousands of inaccurate TRACE reports – all of which led to other complications. The Swiss banking giant Credit Suisse, beleaguered… Read More >>
Growth Will Cause an Ops Revamp: Survey
Asset managers by a large majority expect there will organic growth in their markets and that they will be deploying new technology to help them deal with that growth, according to a new survey conducted by Coalition Greenwich and sponsored by Northern Trust. But the survey reveals a reluctance among firms to implement large-scale redesigns… Read More >>
Crystal Capital Partners to Deploy SS&C Systems & Other News
Crystal Capital to Bolster Ops via SS&C Systems Crystal Capital Partners, an alternative investment platform provider, reports that it has selected the Geneva and Advent systems from SS&C Technologies to “streamline portfolio management and reporting across more than 500 customized portfolios and support further growth,” officials say. “Our integration with SS&C will help streamline the… Read More >>
SEC Wins Legal Battle to Protect Binance Clients
The United States District Court for the District of Columbia has granted the U.S. Securities and Exchange Commission “emergency relief” that applies to “all the defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc.,” and the order states that Binance platform customers “can continue to withdraw their… Read More >>
