Artificial intelligence (A.I.) has the potential to automate tasks and boost operational efficacy within post-trade operations impacted by the transition to T+1. Accenture calculates A.I. could deliver a 30 to 40 percent improvement in efficiency within post-trade operations impacted by the move from T+2 to T+1 in May for the U.S., Canada, and Mexico. Meanwhile,… Read More >>
Buy Side Seeks FX T+1 Settlement Workarounds
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC) descended upon a European Commission workshop on T+1 settlement last week to urge regulators to include foreign exchange (FX) in their efforts to reduce settlement times in coordination with central banks, the Bank for International Settlements (BIS), and CLS Bank. One trade association in… Read More >>
ETF Industry Braces for T+1 Ops Headaches
U.S. regulators are leaving it to the $10 trillion exchange-traded fund (ETF) industry to devise solutions for securities operation headaches arising from the North American transition to T+1 settlement scheduled for May 28 of this year. The International Securities Services Association (ISSA) says it has had some “useful discussions” with the U.S. Securities Exchange Commission… Read More >>
Demand for Crypto ETP Custody Is Rising: Q & A
(On Jan. 10, the Securities and Exchange Commission (SEC) approved the listing and trading of several spot bitcoin exchange-traded product (ETP) shares, including exchange-traded funds (ETFs). The Grayscale Bitcoin Trust (GBTC) became the first among many bitcoin-based ETP offerings to hit the market. As more cryptocurrency-based, decentralized finance (defi) instruments are launched, many are wondering… Read More >>
Nominations Are Open for the 2024 FTF Awards!
Financial Technologies Forum (FTF) has launched the nomination process for the 2024 FTF News Technology Innovation Awards competition, which recognizes the operational excellence of professionals, financial technology vendors, service providers, and industry bodies that had significant achievements in the 2023 calendar year. The winners of the FTF Awards competition are chosen by their peers in… Read More >>
Time to Buy Not Build an OMS?
(Global banks and other sell-side firms face “a technological fork in the road” when it comes to order management systems (OMSes), according to a recent report, “The Future State of Global OMS,” from market research firm Datos Insights. “Sell-side firms … will need to reevaluate the value proposition of their existing OMS architecture and determine… Read More >>
Davy Capital Markets Deploys Torstone Platform
Dublin-based brokerage Davy Capital Markets has gone live with the Torstone Post Trade Platform for middle- and back-office processing to bolster the Davy Group division’s operational efficiency and regulatory compliance, officials say. The Software as a Service (SaaS) platform is from Torstone Technology, a post-trade securities and derivatives processing provider, based in London. “This successful… Read More >>
FinTech Brief: BNY Mellon Taps Proxymity for U.K. Proxy Voting
BNY Mellon clients in the U.K. can use the digital proxy voting service, Proxymity Vote Connect Total (VCT), in time for the 2024 voting season, officials say. The joint effort with Proxymity is intended to “improve transparency, accuracy, and speed for our clients,” says Adam Watson, head of commercial product, custody services at BNY Mellon,… Read More >>
Cyber Threats Seen as a Major Risk for 2024
Securities firms are foreseeing cybersecurity risks as one of their top concerns for next year as cybers-attacks remain one of their top five risks as revealed in an annual Systemic Risk Barometer Survey done by DTCC officials. Cybersecurity concerns constitute one of the top five risks identified in every survey since 2013 when the DTCC… Read More >>
Regulators & Policies Decide ESG Plans for Pension Funds
Regulators and policymakers will have greater impacts on the environmental, social, and governance (ESG) investment strategies of pension plans than the pushback against ESG investments, according to two recent reports. The findings about regulators and policymakers are based on the Amundi/CREATE-Research annual global survey of pension investors and their investing concerns. For the… Read More >>
