Post-trade provider Broadridge Financial Solutions will be able to offer front-to-back-office systems and networking via its acquisition of vendor Itiviti Holding AB for approximately $2.5 billion from Nordic Capital. The all-cash transaction is valued at €2.143 billion and will add trading and connectivity technology offerings to the list of systems that Broadridge offers, officials say…. Read More >>
Coinbase Penalized $6.5M for Reporting & Trading Woes
Digital asset exchange operator Coinbase will pay a civil penalty of $6.5 million to settle a case with the CFTC involving wash trading by a former employee and inaccurate reporting of digital asset transaction volumes even though the CFTC does not regulate Coinbase. While it doesn’t oversee cryptocurrency trading venues, the commodities regulator stepped in… Read More >>
Electra Expands Global Operations & Adds Staff
Electra Information Systems, a provider of reconciliation and other post-trade services, is adding data centers and staff to improve its global infrastructure for operations processing that supports a growing number of clients across the United Kingdom (U.K.), Europe, and the Asia-Pacific regions, officials tell FTF News. In particular, Electra has added data centers in Sydney,… Read More >>
Crashes & Competition Are Jumpstarting Digital Transformations
Although the coronavirus pandemic has loomed over global capital markets for much of 2020, the digital transformation of the securities industry is expected to continue into 2021 and beyond. Asset managers embarked on the current technology upgrade path following the 2008 financial crisis. The shock to the system forced them to improve operations just to… Read More >>
Voting Has Begun for the FTF Awards!
It’s awards season for Hollywood and, by the way, for the securities operations industry as FTF has just unveiled the nominees for the 2021 FTF News Technology Innovation Awards. This is the 11th year for the FTF Awards, and our categories and honors have evolved along with the many shifts in financial markets and across… Read More >>
Elizabeth Warren Asks FINRA to Probe Robinhood
Robinhood’s Role in the Gamestop Frenzy Under Scrutiny Wall Street critic and U.S. Senator Elizabeth Warren (D-Mass.) has called on self-regulatory organization FINRA to “respond to Robinhood’s role in recent market volatility, its decision to cut off customers’ trading, and the broader concerns about market fairness that these events represent.” Warren is referring to discount… Read More >>
FTF News Launches Live Interviews
At FTF and FTF News, we have a history of trying new ways of providing you with compelling, relevant content about major trends, changes, and innovations in the securities operations industry. We hope you like what we are doing, and we appreciate your support for the news service, which launched 10 years ago! In keeping… Read More >>
BNY Mellon Readies Platform for Digital Asset Custody
Digital Assets Platform Due Later This Year New school crypto-currency and other digital assets have gotten the blessings of the establishment with the news that BNY Mellon is creating a digital assets unit slated to create a secure infrastructure to facilitate the transfer, safekeeping, and issuance of digital assets. The new Digital Assets unit “will… Read More >>
BNY Mellon & Google Cloud Take On Treasury Settlements
BNY Mellon to Apply Google Cloud Technologies The Bank of New York Mellon (BNY Mellon) will be using Google Cloud technologies to help U.S. Treasury market participants “better predict billions of dollars in daily settlement failures,” officials say. The combined effort is also intended to “generate significant capital and liquidity savings, and unlock operational efficiencies,”… Read More >>
Is Your Back Office an Ugly Duckling?
(The pandemic-inspired market rally rollercoasters and the recent retail vs. institutional trading battles focused on GameStop Corp. and AMC Entertainment Holdings have underscored the operational drawbacks of volatility. The ripple effects are top of mind for Daniel Carpenter, head of regulation at Meritsoft, a provider of specialized cash and tax management solutions — receivables and… Read More >>
