Reflecting the range of its offerings, SS&C Technologies has news for cutting-edge, digital asset efforts and for established, institutional securities operations. For the cutting edge, Cowen Digital, the new digital asset division of investment bank Cowen, Inc., reports that it will be deploying an order/execution management system (OEMS) from SS&C Eze in support of clients… Read More >>
SS&C Applies A.I. to Fund Administration & Other News Briefs
SS&C GoCentral Uses A.I. & BPR SS&C Technologies has launched a fund administration platform, dubbed GoCentral, that uses artificial intelligence (A.I.) to facilitate a unified platform for accessing information and systems, officials say. In addition to A.I., the web platform leverages business process re-engineering (BPR) “in an exception management-based approach to optimize front, middle and… Read More >>
CFTC Mulls SOFR Start Date for Interdealer Brokers
MRAC Subcommittee Urges July 26 Start Date A key CFTC subcommittee is recommending that interdealer brokers replace the trading of U.S. Dollar linear interest rate swaps (IRS) based upon the London Inter-Bank Offered Rate (LIBOR) with the trading of IRS based upon the Secured Overnight Financing Rate (SOFR) starting July 26, 2021, and to continue… Read More >>
SS&C Cuts Global Staff by 2.2 Percent
SS&C Cites Cost Containment for Layoffs SS&C Technologies Holdings, Inc., a provider of post-trade software-based services and systems, has laid off 2.2 percent of its global work force, according to a presentation of financial results for the first quarter of 2021, and full year, which ended March 31, 2021. “Earlier this month, we announced… Read More >>
OCC Lowers Equity Derivatives Clearing Fee
High Volumes Facilitated OCC’s Reduced Fees The Options Clearing Corp. (OCC), which describes itself as “the world’s largest equity derivatives clearing organization,” is cutting its clearing fee from four-and-a-half cents ($0.045) per equity derivatives contract to two cents ($0.02) per contract effective June 1, 2021, subject to regulatory review, officials say. “The two-cent clearing fee… Read More >>
Facial Recognition App Offered via NICE Actimize Marketplace
Facepoint Available via NICE Actimize’s Marketplace Hoboken, N.J.-based NICE Actimize, a NICE business, reports that Facepoint, which offers a biometric risk screening engine, has joined the X-Sight Marketplace NICE Actimize’s X-Sight Marketplace includes “more than 60 technology partners,” according to a statement, which calls the marketplace the “first financial crime and compliance ecosystem that connects… Read More >>
SS&C Advent Updates Key Offerings
While clients of the SS&C Advent line of solutions are implementing the latest product updates, SS&C Technologies reports that it is seeing an acceleration of long-term customer trends such as the embrace of cloud computing and outsourcing as a result of the pandemic-induced lockdown, market volatility, and economic challenges. The offerings just updated — Advent… Read More >>
Finastra & CloudMargin Launch Collateral Management Service
Finastra’s FusionFabric.cloud Links to CloudMargin Financial services systems vendor Finastra is partnering with CloudMargin, a collateral and margin control solutions provider, to offer an integrated collateral and margin management solution via a Software-as-a-Service (SaaS) model. The “Collateral Management as a Service,” will be hosted by CloudMargin and available through Finastra’s FusionFabric.cloud platform, officials say. The… Read More >>
ISDA’s CDM Pilot Clears Interest Rate Derivatives
Pilot Also Uses the Digital Asset Modeling Language ISDA’s Common Domain Model (CDM) was part of a proof-of-concept implementation that clears interest rate derivatives with the help of an open-source smart contract language, the Digital Asset Modeling Language (DAML) from vendor Digital Asset, officials say. “Using the CDM for clearing and deploying it on a… Read More >>
Gresham Taps Duco for Top European Sales Post
Vincent Him Joins Gresham London-based reconciliation vendor Gresham Technologies has tapped competitor SmartStream Technologies to fill a senior European sales position, underscoring its international growth efforts, officials say. Gresham has hired Vincent Him to be sales director for Europe, and he has nearly 25 years of experience across the post-trade reconciliations industry. In addition to… Read More >>