Credit Suisse Hosts Summer Immersion Program Credit Suisse reports that it’s a corporate sponsor of a virtual Summer Immersion Program for Girls Who Code, a nonprofit group focused on ending the gender gap in technology. “Credit Suisse will host a two-week program where students in high school will have an opportunity to build the technical… Read More >>
Don’t Forget the CFTC’s Role in the Climate Debate
The Securities and Exchange Commission (SEC) has been getting a lot of attention and corporate pushback for its proposed rulemaking efforts “that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks.” While that battle is ongoing, the chairman of the Commodity Futures Trading Commission… Read More >>
Titanium CEO Pleads Guilty to $21M Crypto Fraud
Is $21 million scammed from would-be cryptocurrency investors worth up to two decades behind bars? The 54-year-old chief executive officer of Titanium Blockchain Infrastructure Services Inc. (TBIS) might have the next 20 years to ponder his answer to that fraught question. He’ll probably learn much more about his fate on November 18 of this year,… Read More >>
Snowflake to Host Cboe’s Data Framework & Other News
Cboe to Send Data & Analytics to the Cloud Exchanges company Cboe Global Markets reports that it is moving its corporate data and analytics from onsite systems to the cloud via Snowflake’s Data Cloud. Cboe officials say that they are making the change to bring “speed, scalability, and efficiency” to Cboe’s management of internal, proprietary data… Read More >>
DTC & Kingfield Advance Automation for Corporate Actions Claims
The Depository Trust Co. (DTC), a DTCC subsidiary, reports that its automated corporate actions cash claim processing service, ClaimConnect, now links to a claims processing platform from Kingfield Corp., and the link matches claims before they’re sent to the DTC for processing and intraday settlement. ClaimConnect validates, matches, settles, and closes claims in minutes, DTC… Read More >>
Google Cloud Tapped for Climate FinTech & Other News
MAS & Google Launch Climate FinTech Initiative The Monetary Authority of Singapore (MAS) and Google Cloud report that they are launching an initiative “to drive the innovation, incubation, and scaling of climate FinTech solutions in Asia.” The Point Carbon Zero Program is “a collaboration under MAS’ Project Greenprint,” that will spur climate FinTech solutions to… Read More >>
Are We Heading Toward the Age of DLT?
I think it’s fair to say that distributed ledger technology (DLT), a.k.a. the blockchain, is making real inroads into the complex universe of post-trade securities operations. I am referring to the infrastructure-building/plumbing aspects of DLT, which emerged before its role in the wild embrace of crypto- and digital asset transactions, tokenization, etc. The DLT-based systems… Read More >>
Equitable Pays $50M to Resolve Annuity Fees Case
The Securities and Exchange Commission (SEC) reports that it has charged Equitable Financial Life Insurance Company with fraud, “for providing account statements to about 1.4 million variable annuity investors that included materially misleading statements and omissions concerning investor fees.” Equitable has agreed to compensate harmed investors, most of whom are public school teachers and staff… Read More >>
Why Post-Trade Data Is Key to Digitization
(Firms engaged in securities trading are being pressured to undergo a digital transformation as soon as possible. It’s no surprise then that some firms are contemplating a big bang overhaul. But that would not be in a firm’s best interest, says Justin Llewellyn-Jones, head of capital markets, North America (equities and derivatives), Broadridge Financial Solutions…. Read More >>
Jefferies Embarks Upon a Major Overhaul
Investment bank Jefferies Financial Group has embarked upon a major overhaul of its business lines in an effort to bolster its core of investment banking and capital markets. But a lot of shifting and shuffling has to happen first, including the combining of Jefferies Group LLC into Jefferies Financial Group Inc. “Jefferies expects to streamline and… Read More >>
