(P. McKay Marschalk Jr., CFA, vice president, director, reporting and distribution product management at FactSet, took time out of his busy schedule to answer questions about current data demands, outsourcing vs. internal control, third-party databases and questionnaires, and FactSet’s embrace of a generative A.I. commentary solution. The through-line for all of these concerns is maintaining… Read More >>
FINRA Approves Broker-Dealer ‘Hidden Road Partners’
A global credit network for institutions, Hidden Road, reports that its wholly-owned subsidiary, Hidden Road Partners CIV US LLC, can operate as a member broker-dealer of the self-regulatory organization (SRO) the Financial Industry Regulatory Authority (FINRA), which oversees U.S. brokers. FINRA’s approval “enables Hidden Road to expand its recently launched fixed income prime brokerage platform,… Read More >>
Providers Try New Ways to Ease Collateral Management
The new tariff wars are spurring new operational challenges across global markets, a situation made more difficult by less-than-optimal collateral management operations at many firms. As firms navigate fluctuating markets and regulations, post-trade infrastructure provider the Depository Trust & Clearing Corp. (DTCC), and established providers SmartStream and Finastra are exploring new ways to optimize collateral… Read More >>
Revamped & Rebranded ‘Vistra Fund Solutions’ Launches
Vistra, a provider of business services for funds, has launched Vistra Fund Solutions, a global offering derived from Vistra’s acquisition of the fund administration and transfer agent business of Phoenix American Financial Services, Inc. last year, officials say. “We have reorganized our service delivery to embed a client-centric service culture that is underpinned by a… Read More >>
Affin Group Taps Bloomberg to Streamline Ops
Officials say the Affin Group, a Malaysian banking and financial services company headquartered in Kuala Lumpur, has selected Bloomberg’s Sell-Side Order and Risk Management suite of solutions to improve workflows, strategic decision-making, and its regulatory reporting framework. The Affin Group will implement Bloomberg TOMS, a sell-side order management system (OMS), to help the company “realize operational… Read More >>
SS&C to Open an Office in Saudi Arabia
SS&C Technologies is opening an office in Riyadh, the capital of Saudi Arabia, that will be headed by Issa Jadon, director, strategic accounts, who will help the post-trade systems and services provider develop its working relationship with the Capital Markets Authority and the Saudi Arabian Monetary Agency, officials say. The move into the financial hub… Read More >>
Wall Street Bonuses Show ‘Significant Bump’ for 2024
Wall Street bonuses for 2024 are estimated to hit $244,700, an increase of almost one-third — 31.5 percent — over bonuses for 2023, marking the first “significant bump” since 2021, according to the annual review compiled by New York State Comptroller Thomas P. DiNapoli. However, this bonus bounce may not be repeated next year as… Read More >>
Archax Acquires Globacap Private Markets
Archax, a digital and traditional asset exchange, broker, and custodian, is extending its reach into U.S. markets with the acquisition of Globacap Private Markets Inc., a broker-dealer and alternative trading system (ATS) that will be renamed Archax Markets U.S., officials say. “The acquisition of Globacap PMI in the U.S. builds on the strong partnership we… Read More >>
CanDeal Adds Intraday Pricing to Evolution Platform
Institutional electronic marketplace CanDeal reports that it has integrated new intraday pricing for corporate bonds, dubbed Corporate Matrix Pricing, into its Evolution fixed income trading platform, which also facilitates Canadian corporate bond trading, officials say. The new service offers “pre-trade transparency into the pricing of individual bonds and the broader credit market throughout the day… Read More >>
Q&A: Tariff Battles Could Lead to Ops Layoffs
(Last week, Johnson Associates, a provider of compensation consulting services, presented a review of the financial services industry in 2024 and initial thoughts on compensation and related developments for 2025. Some of the key matters covered included the layoffs of 2024, the convergence of public and private markets, technologies impacting headcount, and the surprises so… Read More >>
