U.S. corporate actions processing needs more standards and that will require more regulation focused on the timing of corporate actions notifications, submissions, disclosers, and supporting activities, according to a new report from industry association SIFMA and consultancy Ernst & Young (EY). Smoother corporate actions processing would also be in line with the securities industry push… Read More >>
Life After the Crypto Winter
As the winter of our discontent with cryptocurrencies continues, it’s clear that changes have to be made and that the next crypto spring will either not happen at all or it will be a radical rejection of the Wild West status quo. One path is an outright ban. Some like Charlie Munger, the vice chairman… Read More >>
Bloomberg Debuts ETF List-Trading Function & Other News
ETF Function Stretches Across 100 Liquidity Providers Bloomberg has launched a list-trading service for exchange-traded funds (ETFs), dubbed the ETF Request for Quote (RFQe), that helps traders with pricing and liquidity searches across multiple-asset ETFs via “more than 100 liquidity providers,” Bloomberg says. RFQe builds upon current functions to help clients trade multiple securities with… Read More >>
Coinbase Europe Fined $3.6M by Dutch Central Bank
It’s been a tough year for Coinbase and we haven’t even reached Valentine’s Day yet. If you’re so inclined, you can trace the troubles of the present-day cryptography movement back to Japan in 2010 and the rise of Mount Gox, the original bitcoin power. It was a quick rise and a fast fall: by 2014,… Read More >>
SimCorp Faces a Horse Race in North America: Q&A
(Editor’s note: Investment management solutions vendor SimCorp, based in Copenhagen, recently announced that it had hired John Needham to be its next managing director for SimCorp North America. An industry veteran with 25 years of experience, Needham had been working for trading and risk management provider Murex in a senior leadership position before joining SimCorp…. Read More >>
Should Banks Disclose Climate Targets of Portfolio Companies?
As global climate instability rocks regions and countries, we know what Greta Thunberg would say. Young people may not have any future at all, the famous Swedish teen eco-activist and climate sybil would exclaim, because “that future was sold so that a small number of people could make unimaginable amounts of money.” Presumably, Ms. Thunberg… Read More >>
DTCC Guide Demystifies T+1 Testing
In the U.S., there have been many serious discussions and efforts to move the securities industry from the trading day plus two (T+2) settlement cycle to T+1. In addition, the regulators, standards groups, and industry associations are mulling the changes that must be made to facilitate the shift to T+1. But, at some point, the… Read More >>
BNY Mellon Targets Buy Side via Outsourced Trading & Other News
New Services Offered via BNY Mellon Capital Markets BNY Mellon is targeting buy-side firms with a new outsourced, multi-asset, global trading service that the custodian bank says will help clients cut spending on data, trading infrastructure, analytics, reporting, and associated trade execution support functions. With asset managers and asset owners also in mind, the… Read More >>
Many Firms Can’t Leverage Valuable Ops Data: Q&A
(Editor’s note: Many financial services firms can “only leverage a small portion of the data they possess on a modern data platform to generate insight — the rest is simply used for processing activities,” says Kapil Bansal, managing director, global head of data strategy and analytics, business architecture at DTCC, via an FTF News Q&A…. Read More >>
Bloomberg Pays $5M Penalty to Resolve BVAL Case
Bloomberg Finance L.P. is paying a $5 million penalty to the SEC to settle charges that its daily price valuation service BVAL misled some fixed income subscribers when the market data giant allegedly failed to let them know that some of the valuations were based on a single data input rather than a full implementation… Read More >>
