In a bid to help firms maximize the benefits of tokenization, financial services market infrastructure provider Euroclear and stablecoin issuer Société Générale-FORGE (SG-FORGE) will be exploring how a regulated USD stablecoin can be applied to the settlement and issuance of tokenized short-term funding instruments denominated in dollars, officials say. The initiative will happen at the… Read More >>
Why It’s Impossible to Predict the CAT’s Future
If the Consolidated Audit Trail (CAT) has nine lives like its namesake breed of household felines, it may need one of them as its future is being decided by the U.S. Securities and Exchange Commission (SEC). This massive and costly equities and options tracking and data-keeping system faces a far more complicated landscape than when… Read More >>
Hunter Capital Management Taps INDATA
Chicago-based investment firm Hunter Capital Management (HCM) reports that it has gone live with INDATA’s software-as-a-service (SaaS) integrated platform for front, middle, and back-office investment management operations. In particular, the firm will be using the INDATA platform to support portfolio accounting, trading, reporting, and operational workflows and is replacing its previous vendor solution, officials say…. Read More >>
Trading Technologies Upgrades Its Surveillance System
Trading Technologies International (TT), a capital markets technology platform services provider, has released an upgrade to its TT Trade Surveillance offering that is intended to improve “the workflow, speed and scope of surveillance” across equities, futures and options, foreign exchange (FX), fixed income and cryptocurrencies, officials say. The upgrade includes a “Market Replay” tool and… Read More >>
NYDFS Proposes Stablecoin Framework Upgrade
Kaitlin Asrow, the acting superintendent of the New York State Department of Financial Services (DFS), says she wants “to build on New York’s first-in-the-nation stablecoin framework” via new provisions that address reserve amounts and risk management aspects of the U.S. Department of the Treasury’s proposed requirements for state frameworks to be certified under the GENIUS… Read More >>
Is Ops Paying a Hidden ‘Manual Processing Tax?’
(Murray Campbell, principal product manager at AutoRek, recently took questions from FTF News about the hidden costs of manual processes that remain in place because firms think they’re more cost-effective than automated solutions. In this Q&A, Campbell makes the case that firms face many ongoing, unknown costs associated with manual processes that carry price tags… Read More >>
GitHub Incident Could Put Firms at Risk: FINRA
Officials at the Financial Industry Regulatory Authority (FINRA) are warning broker-dealers and other securities firms about the potential ripple effects of a cyber-attack upon the popular open source code platform GitHub. The cyber incident “involving GitHub could compromise software supply chains and expose sensitive code across thousands of organizations,” FINRA says in its cyber alert…. Read More >>
DTCC & SSImple Push for Fully Automated SSIs
Post-trade infrastructure provider the Depository Trust & Clearing Corp (DTCC) is working with fintech company SSImple to help custodians automate the submission of correct Standing Settlement Instructions (SSIs) into DTCC’s Alert system — an effort that has become crucial as European firms move closer to their T+1 deadline. The DTCC’s Alert SSI database encompasses multiple… Read More >>
BNY Joins the CLSNet Service
Global custodian BNY has gone live on CLSNet, a bilateral payment netting calculation service, in an effort to “optimize and safeguard” FX operations against settlement risk, officials say. CLSNet is part of CLS, a settlement, processing, and data solutions provider for the foreign exchange (FX) industry. “CLSNet standardizes and automates post-trade matching and netting processes… Read More >>
Northern Trust & Saphyre Expand Capabilities for Outsourced Clients
The Investment Operations Outsourcing (IOO) fund manager clients of custodian Northern Trust will have more control over the lifecycle of account events, thanks to greater transparency and efficiency enabled by a centralized workflow — the result of an expanded collaboration with financial technology provider Saphyre, officials say. Saphyre uses A.I.-based technology to digitize pre-trade data… Read More >>
