(To quote the European Securities and Markets Authority (ESMA), the Securities Financing Transactions Regulation (SFTR) “responds to the need to enhance the transparency of securities financing markets and thus of the financial system. The Regulation was published in the Official Journal of the European Union on 23 December 2015.” For firms that do business in… Read More >>
Raymond James Boosts STP by 40 Percent
Raymond James Deploys Syn-TAC Upgrade Raymond James officials report that they have renewed an existing contract for GBST’s middle-office post-trade solution, Syn~TAC, in a bid to boost the firm’s straight through processing (STP). A GBST client for more than seven years, the firm has also completed an upgrade to the latest version of Syn~TAC, officials… Read More >>
State Street & Spaulding Partner for GIPS Compliance
Partnership Targets Performance Measurement State Street is partnering with the Spaulding Group to offer performance services and operational support to asset owners that want to streamline Global Investment Performance Standards (GIPS) compliance, officials say. An investment performance measurement services provider, Spaulding offers educational, consulting, and verification capabilities that will be combined with State Street’s performance… Read More >>
Asset Managers Want Enterprise-Wide ESG: Survey
The securities industry wants to fully integrate environmental, social, and corporate governance (ESG) concerns across the enterprise and into decision-making processes if the emerging, relevant data and solutions can facilitate those goals. This is according to the ESG Global Survey 2021 that BNP Paribas conducted and just released. The BNP Paribas survey, based on interviews… Read More >>
Corporate Actions Ops Are Stuck in Manual: Survey
But Firms Want Real-Time Corporate Actions Data A new report based on survey results reveals that slightly more than “three-quarters of respondents (78 percent) still process part of their corporate actions manually, with 40 percent processing more than half of their corporate actions in this way,” according to research sponsored by data and infrastructure services… Read More >>
State Street Buys BBH Investor Services for $3.5B
State Street Corp. is acquiring the custody, accounting, fund administration, global markets, and technology services of private bank Brown Brothers Harriman & Co. — known as BBH’s Investor Services business — for $3.5 billion in cash in a major bid to become the top provider in the investment servicing industry. The firms report that they… Read More >>
CME-IHS Joint Venture Targets OTC Ops Woes
Following an announcement this past January, CME Group and IHS Markit have formally launched a joint venture, dubbed OSTTRA, that will encompass offerings intended to ease the post-trade operational challenges of over-the-counter (OTC) transaction processing for interest rate, foreign exchange (FX), equity, and credit asset classes. CME Group and IHS Markit each own half of… Read More >>
ASX Identifies the Causes for its 2020 Outage
The equity market of the Australian Stock Exchange (ASX) suffered an outage last November following the implementation of a new version of the Nasdaq equity market trading system. Shortly thereafter, ASX officials commissioned an independent review to provide an explanation for trading interruption. Released last week, the preliminary results of the review indicate the updated… Read More >>
Crypto Scams Spur Warning from Vermont Regulator
It’s not exactly Ella singing “Moonlight in Vermont.” More like one of those scary-movie shadows falling across the night sky, just before Count Dracula swoops in through the window. An exaggeration? It might not seem like one to Vermont’s would-be investors who — in just one month — reported more than $1 million in crypto-scam… Read More >>
State Street Adopts Hybrid Model & Closes NYC Offices
State Street to Exit Midtown Manhattan The Boston-based State Street will be closing its midtown Manhattan offices and embracing a hybrid working model in response to staff members that have been working remotely in the wake of the COVID-19 pandemic, according to a prepared statement from the custodian banking giant. “Like most other companies, we… Read More >>
