A big cryptography firm is suing a big government regulator. It may be a pivotal moment in the sometimes fraught relationship between crypto and the U.S. Securities and Exchange Commission (SEC). Paul Grewal, Coinbase’s chief legal officer, says that the crypto exchange is taking “another formal step to seek regulatory clarity from SEC for the crypto… Read More >>
CFTC Approves 24th SEF & Other News
RTX Fintech & Research Launches a SEF Another swap execution facility (SEF) has gotten regulatory approval, raising the number of active SEFs to 24. The Commodity Futures Trading Commission last week issued an order of registration to RTX Fintech & Research LLC (RTX SEF) allowing RTX SEF to launch, according to the CFTC. The New York… Read More >>
Business Venture to Apply DLT to Post-Trade Ops
Capital markets consultancy Delta Capita has acquired a key distributed ledger technology (DLT) business from settlement technology provider SETL and will make it the core of a new venture, Delta Capita Distributed Ledger Services, that already has an anchor client, the Montis Group. As the first client for the new venture, the Montis Group, which… Read More >>
Barclays Capital Fined $2.5M via LOPR Reporting Case
Barclays Capital Inc., a member of FINRA, the broker-dealer industry’s self-regulatory authority since 2007, has agreed to a censure and a $2.5 million fine for allegedly failing to report, or inaccurately reporting, over-the-counter (OTC) options positions to the Large Options Positions Reporting (LOPR) system. That alleged reporting hiccup happened approximately 4.3 million times from January… Read More >>
Will Europe Move to T+1?
The move to a shorter settlement cycle for European equities has many more moving parts than the transition in the U.S. and Canada, which are moving fast from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for equity markets. In addition, Europe does yet face pressure from… Read More >>
Broadridge’s NYFIX Links to Linedata OMS & Other News
Broadridge Expands Partnership with Linedata The NYFIX Matching solution from Broadridge Financial Solutions will be integrated with the Longview order management system (OMS) from Linedata to provide more automation for NYFIX’s middle- and back-office functions, officials say. To make more automation possible, Broadridge expanded its partnership with Linedata, a provider of asset management and credit… Read More >>
Bittrex Exits U.S. Markets as SEC’s Charges Linger
Bittrex and the Securities and Exchange Commission (SEC) appear to be heading to court over the regulator’s allegations that the crypto asset trading platform Bittrex, Inc., and its co-founder and former CEO operated an unregistered national securities exchange, brokerage, and clearing agency. Bittrex, Inc.’s foreign affiliate, Bittrex Global GmbH has also been accused of “failing… Read More >>
Time to Rethink A.I.?
You don’t need artificial intelligence (A.I.) to predict what the economy is up to, or the perils of global climate change, or even what the local weather will be like next weekend. But that does appear to be where we are headed. Don’t just take it from FTF News. Ask Jamie Dimon, the chief executive… Read More >>
TNS Buys BornTec’s Co-Location Services & Other News
TNS Adds to Global Connectivity Footprint Transaction Network Services (TNS) has acquired BornTec’s managed hosting and co-location business, which will add to TNS’ global connectivity footprint and bolster previous TNS acquisitions, officials say. The latest acquisition was completed on March 21, 2023. The BornTec co-location acquisition adds to TNS’s global deployment of Layer 1 ultra-low… Read More >>
T. Rowe Price & Others to Test Public Blockchains
While the hype surrounding blockchain technology cooled long ago, the hope remains that it will yield trading technology breakthroughs. With that hope in mind, T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland are “an initial cohort” of financial services firms participating in a test of public blockchain infrastructure. They will explore the benefits of… Read More >>
