Symphony to Unite Voice Trading with NLP Symphony, a messaging and platform provider for trading firms, reports that it is trying to “tackle true pain points in markets’ workflows” via the acquisition of trader voice/electronic communication and analytics company Cloud9 Technologies. The acquisition will help Symphony “take the lead in front office communications with new… Read More >>
BMO-AWS Partnership Covers Capital Markets, Too
BMO Financial Group will be using Amazon Web Services (AWS) as its preferred cloud provider for a “digital first” strategy that will be implemented across BMO as a “scalable and highly available” platform for many businesses, including capital markets operations. BMO will move “strategic workloads to AWS that support its retail and commercial banking, investment… Read More >>
DLT Meets Collateral Management via Partnership
CloudMargin & Ivno Bring DLT to Collateral & Margining CloudMargin, maker of a cloud-native collateral and margining solution, is working with Ivno, a financial markets tokenization vendor, to develop a collateral management solution that uses distributed ledger technology (DLT) and cloud computing, officials say. Their new strategic partnership will leverage Ivno’s DLT strengths and CloudMargin’s… Read More >>
FINRA Puts an Expiration Date on OATS
Self-regulatory organization, the Financial Industry Regulatory Authority (FINRA) is quietly putting an expiration date of September 1, 2021, on the Order Audit Trail System (OATS) as the Consolidated Audit Trail (CAT) reaches a new level of reliability. In typical legalese, FINRA officials released the following Regulatory Notice 21-21: “Effective September 1, 2021, FINRA is amending… Read More >>
JPMorgan Asset Management Buys Campbell Global
JPMorgan Asset Management Boosts ESG Offerings JPMorgan Asset Management has acquired Campbell Global, described as “a forest management and timberland investing company,” as a way of facilitating transitions to a low-carbon economy and opportunities for those investors that want to support environmental, social, and governance (ESG) concerns, officials say. JPMorgan officials declined to disclose the… Read More >>
Cowen to Use RBC C&C for Correspondent Clearing
RBC Clearing and Custody (RBC C&C) and Cowen’s Correspondent Clearing group have signed an agreement to move a subset of Cowen’s clients to the RBC clearing platform, officials say. The Cowen agreement fits in with RBC C&C’s strategy to expand the reach of its clearing platform to broker-dealers with institutional clients, and registered investment advisors… Read More >>
Time to Learn More About Open Source?
Financial services firms are using a lot of open source software but there may be a gap in their understanding of how to manage the “opportunities and potential challenges” of the open source movement, according to the Fintech Open Source Foundation, also known as FINOS. FINOS is an independent, nonprofit organization whose mission is to… Read More >>
T+1 Update: Feedback Will Determine Time Frame
The push to shorten the U.S. securities settlement cycle from T+2 to T+1 by 2023 is well into the information-gathering stage via private industry workshops that will decide the details of the time frame for the transition, which is expected to be announced during the last quarter of this year. The workshops are also helping… Read More >>
FIS Uses Machine Learning to Fight Financial Crime
FIS Partners With C3 AI for New Solutions Financial technology systems and software provide FIS has unveiled the first in a series of solutions that uses artificial intelligence (A.I.) to help capital markets firms fight the increasing threat of financial crime, officials say. FIS developed these new offerings with C3 AI, and the AML Compliance… Read More >>
Bitcoin-Based Futures Are Risky Business: Regulators
An investor bulletin from the SEC and the CFTC is warning investors to be fully aware of the risks that come with Bitcoin-based futures given the many pitfalls that come with cryptocurrency trading. The “Funds Trading in Bitcoin Futures” bulletin from earlier this month targets “investors considering a fund with exposure to the Bitcoin futures… Read More >>
