Nasdaq Sytem Targets Gap in AML Inquiries Nasdaq just launched a “cloud-deployed” anti-money laundering (AML) system, the Nasdaq Automated Investigator for AML, that is intended to help financial services firms use IT to detect evidence of money laundering. The new system has been designed in partnership with Caspian, a company based in Newcastle upon Tyne,… Read More >>
ISITC Honors Karla McKenna’s Contributions to Ops Standards
Securities industry standards organization ISITC has named industry veteran Karla McKenna as the 2020 recipient of the ISITC Standard of Excellence Award for her many efforts to bring standardization and efficiency to trading operations. McKenna received the award during ISITC’s virtual conference, ISITC Week 2020, Sept 14-17. McKenna is also the 2017 recipient of the… Read More >>
Citi, JPMorgan & State Street Invest $11M in Capitolis
Capitolis to Speed Up Product Development Citi, JPMorgan, and State Street have invested a total of $11 million in fintech startup Capitolis, whose proprietary technology platform helps trading firms streamline their trading-position strategies. A spokesperson for Capitolis confirms media reports that the funding from the trio is $11 million in total. The spokesperson declines to… Read More >>
Buy Side Not Ready for UMR Deadlines: Survey
A recent survey of buy-side firms by custodian banking giant State Street finds that more than 80 percent of those polled say they are not quite ready for the implementation of the uncleared margin rules (UMR) for non-centrally cleared derivatives. The UMR reforms have been driven by the Basel Committee on Banking Supervision (BCBS) and… Read More >>
Ops Spends Too Much Time On Exceptions: Q&A
(Todd Sloan, business development, senior vice president, Electra Information Systems, took time out of his schedule to give FTF News a progress report on Electra Information Systems. The provider of reconciliation and other post-trade solutions, Electra is the winner of the 2020 FTF News Technology Innovation award for “Best Reconciliation Solution” for the fifth consecutive… Read More >>
BNY Mellon Staff to Stay Remote for 2020
BNY Mellon Mum About 2021 Custody bank BNY Mellon is telling its approximately 48,000 staff members across the globe to continue to work remotely for the rest of 2020. “Our top priority remains the health and safety of our employees and our clients,” a BNY Mellon spokesperson tells FTF News. “A majority of our global… Read More >>
IT Disconnect With Business Threatens Recovery: Gartner
Chief information officers, or CIOs, who often drive digital business strategy and IT innovation for financial services firms, “must align with business leader priorities” to ensure a coordinated COVID-19 response and recovery, according to the summary of a recent report from Gartner, Inc. Automation and technologies to sustain and improve remote work are two investment… Read More >>
Allianz Picks IHS Markit’s thinkFolio Platform
Allianz to Use AWS as Platform Host Allianz Global Investors, an asset manager, has adopted IHS Markit’s thinkFolio investment management platform for its global fixed income business, the firm says in a statement, which also notes that the firm will “leverage thinkFolio as a managed service hosted on the Amazon Web Services … cloud.” The thinkFolio… Read More >>
SimCorp’s Dimension Moves to Microsoft’s Azure: Q&A
(SimCorp, a provider of multi-asset investment management solutions and services, recently announced that it will be integrating its Dimension platform with the Microsoft Azure cloud computing platform. This phased integration will yield the hosted, SimCorp Dimension-as-a-Service offering via a public cloud, officials say. The move is the vendor’s response to the needs of its clients… Read More >>
Calpers Chief Investment Officer Abruptly Resigns
Calpers Board to Review the Matter on August 17 Yu (Ben) Meng abruptly resigned from his post as chief investment officer for the approximately $409 billion California Public Employees’ Retirement System (Calpers) pension fund. Meng, whose resignation became effective August 5, became the chief investment officer in January 2019. Calpers has appointed Dan Bienvenue, deputy… Read More >>
