(FTF and FTF News are proud to announce that Maria Gotsch has been chosen for the Editor’s Choice award, which is part of the FTF News Technology Innovation Awards for 2020. Gotsch is the president and CEO of the Partnership Fund for New York City, the $170 million investment arm of the Partnership for New York… 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 >>
Duco & Murex Announce Collaboration
Murex & Duco to Offer End-To-End Recs Solution Duco, a provider of self-service reconciliation services, and Murex, a provider of trading, risk and processing processes for treasury and capital markets, report that they will jointly provide clients with a “comprehensive data reconciliation solution enabling improved automation and straight through processing across a range of asset… Read More >>
Broadridge Partnership Yields Corporate Bond Trading Platform
Post-trade systems and services provider Broadridge Financial Solutions reports that it’s partnering with Jim Toffey, founder of Tradeweb and now CEO of LiquidX, and has added artificial intelligence technologies to a Broadridge fixed income post-trade processing offering to create a corporate bond trading platform, dubbed LTX. The new platform has already been used to execute… Read More >>
Wall Street Braces for a Safe Return
Wall Street is moving cautiously toward reopening and Monday, June 22, will serve as a milestone for when the securities industry took its first step into the new normal following a crushing pandemic that took 21,000 lives in New York City and brought the world to a halt. After three months of a pandemic lockdown,… Read More >>
Goldman Sachs Joins Swaps Settlement Service
Settlement Service Run by CLS & IHS Markit Investment banking giant Goldman Sachs has joined a cross-currency swaps settlement service developed by financial data and systems vendor IHS Markit and a firm specializing in settlement CLS, officials report. With its latest member, the payment-versus-payment (PvP) settlement service has eight settlement members “live on the service,… Read More >>
Crypto-Crime Toll Hits $1.36B in Early 2020
The current year “could see the second-highest value in cryptocurrency crimes ever recorded,” according to a recent report issued by CipherTrace. Specifically, in the first five months of 2020 “crypto thefts, hacks, and frauds totaled $1.36 billion,” CipherTrace says. CipherTrace was founded in 2015, by Silicon Valley business people, and it was funded initially by… Read More >>
Task Force Takes On Global Post-Trade Woes
The Bank of England is setting up a task force to implement the recommendations of a special panel that focused last year on the $20 billion spent annually on a “patchwork of manual or outdated technological processes” that support post-trade operations at firms across the globe. The Post‑Trade Technology Market Practitioner Panel of the U.K.’s… Read More >>
Merrill Lynch & FINRA Resolve Mutual Fund Fees Case
FINRA has ordered broker-dealer Merrill Lynch, Pierce, Fenner & Smith Inc. to “pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and paid excess fees in connection with mutual fund transactions.” In a formulation that will be familiar to FTF News readers, the firm says: “In settling this… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
