European securities firms appear to be expanding the clearing repo market beyond a major function of the interdealer market to a “far wider application,” according to a new report based upon a survey of sell-side firms such as global banks, regional banks, non-bank futures commission merchants (FCMs), and non-bank brokers. Acuiti and Euronext officials interviewed… Read More >>
MarketAxess to Join ICE for $5.7 Billion
Officials at the Intercontinental Exchange (ICE) confirm that they are acquiring fixed-income trading platform provider MarketAxess Holdings Inc. for approximately $5.7 billion to offer a single, unified platform across all segments of a fragmented and opaque market with an estimated $145.1 trillion in outstanding debt. The combination of fixed income services from both providers will… Read More >>
BNY Launches Transfer Agency Support for Digital Assets
Custody giant BNY has launched Digital Transfer Agency (TA) capabilities by extending the firm’s TA books and records services to support digitally native funds, and BNY Investment Dreyfus, Baillie Gifford, and BlackRock are among the first issuers of the new fund servicing capabilities, officials say. “The service will initially launch with select clients in the… Read More >>
Fees Still Determine Choice of Derivatives Clearing Broker
Buy-side firms participating in derivatives markets say that fees constitute the top determining factor in their choice of clearing brokers. But firms also value a clearing broker’s capabilities to access markets and products, the quality of transaction execution, and the operational processes they offer, according to “Execution and clearing: What the buy side expects from… Read More >>
Rogue A.I. Models Can Attack
By now, you probably have heard about the rogue artificial intelligence incident where “cyber-capable” OpenAI models acted on their own and created havoc with Hugging Face, a company that describes itself as “The Home of Machine Learning.” OpenAI created ChatGPT. The AI-based hack has sent shock waves across multiple industries, C-suites, and boardrooms, including, I… Read More >>
Why Tokenization Makes ISO 20022 Migration Unavoidable
(Tokenization has a little problem with decimalization that could become a big argument for fully embracing ISO 20022. So says Paul Fullam, the 2026-27 Chair of ISITC, a global industry trade group. Fullam is also a senior business consultant at FIS Global, and a securities operations veteran. “The problem is how far out past the… Read More >>
Allspring Adds Distribution Data Support to SS&C Engagement
Independent asset management firm Allspring Global Investments has added to its long-term agreement with SS&C Technologies by choosing SS&C SalesConnect as its primary sales data management solution for all intermediary distributed products in the U.S., officials say. Allspring has $642 billion in assets under advisement. Allspring is an existing customer of SS&C’s suite of services… Read More >>
DTCC & Major Players Tokenize Assets & Trade Them
Tokenization is hitting its stride in the securities industry as its operations infrastructure provider — the Depository Trust & Clearing Corp. (DTCC) — and major industry players tokenized real-world assets held at the Depository Trust Co. (DTC) and later used them in real trades via the largest tokenization production initiative “in breadth of use cases,… Read More >>
BMLL & SIGMA AI to Offer Real-Time Execution Measurement
BMLL, a provider of Level 3, 2 and 1 data and analytics, has partnered with SIGMA AI, a provider of real-time intelligence for financial markets, to build an intelligence layer that will allow market participants to “contextualize live market flow against deep historical benchmarks,” officials say. “The combination will create a product category that doesn’t… Read More >>
Murex’s A.I. Research Effort Will Focus on Capital Markets
The hype, scope, and achievements of artificial intelligence (A.I.) technologies are stunning for good and bad reasons. It is no secret that A.I.-based anything is getting glib approval everywhere, including the multiple facets of securities operations. The only period that is somewhat comparable is the run-up to the Year 2000, when every Y2K project got… Read More >>
