Post-trade controls, monitoring, and data collection are essential to mitigate the risk involved in the automation of exchange-traded futures, options, and centrally cleared derivatives. With the help of updated best practices, these controls can work well in conjunction with pre-trade controls to prevent credit events or unintended transactions. So says the Futures Industry Association (FIA)… Read More >>
Wedbush Forms Cross-Border Alliance to South Korea
Wedbush Financial Services (WFS), a financial services holding company and parent company of Wedbush Securities Inc., has signed a strategic alliance with Hana Securities (Hana), the securities firm of Hana Financial Group, the holding company for Korean institution Hana Bank, officials say. The alliance will yield a new investment channel for Wedbush Securities clients, says… Read More >>
FINRA Warns of Post-CrowdStrike Secondary Attacks
Financial Industry Regulatory Authority (FINRA) officials have issued a warning that the global disruption caused by the CrowdStrike Outage could be followed by secondary attacks. “In connection to the widespread disruption, member firms should be aware they may experience secondary attacks from cyber criminals seeking to leverage this incident to carry out social engineering and… Read More >>
Apex Fintech Launches Platform for Building Investment Infrastructures
Apex Fintech Solutions is launching an investment infrastructure platform, dubbed Apex Ascend, that has been designed to help clients improve their capability to “operate efficiently and better navigate risk on a global scale,” officials say. The cloud-native platform offers built-in tools and data to help firms create, integrate, scale, and operate globally and offers key… Read More >>
Achieve T+1 Harmony with U.S. Before E.U.: Task Force
The investment management industry believes that the U.K. being out of sync with the T+1 settlement of the U.S. is a bigger problem than with the European Union, and the U.K. needs to get its “skates on” with implementation. That’s according to Andrew Douglas, chair of the U.K. Accelerated Settlement Task Force (AST), which advocates… Read More >>
Did FX Workarounds Help Firms Get to T+1?
The foreign exchange (FX) industry has been tight-lipped since North America transitioned to a shorter settlement cycle a little over a month ago. However, more light is being shed on the operational workarounds buy-side firms deployed to meet the deadline. Though concerns about FX liquidity and pricing prior to the transition have not necessarily materialized,… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
T+1: No Victory Until Affirmations Reach 100%
As many teams in North America canceled their weekly T+1 transition meetings, Securities and Exchange Commission Chair Gary Gensler has called on the U.K. to trigger its own implementation. Top of the list of lessons to learn from North America’s transition, Gensler said, is setting a date. “Until you do that, it is a lot… Read More >>
BNY Mellon Debuts Pershing X Wove Suite & Bundled Offering
The Bank of New York Mellon is moving to bring greater cohesion to key Pershing offerings, which at the same time will open pathways to the custodian bank’s more enterprise-wide offerings. BNY Mellon’s enhancements to the Pershing X Wove platform are in line with the provider’s goal to be the “most connected advisory platform in… Read More >>
SS&C Grows Fund Administration Business in India
SS&C Technologies officials report that they have opened an office in the Indian special economic zone Gujarat International Finance Tec-City (GIFT City), which adds to the post-trade systems and services provider’s presence in India. The International Financial Services Centers Authority (IFSCA), which is the regulatory body for special economic zones, has licensed SS&C GlobeOp “to… Read More >>
