Financial messaging and networking cooperative SWIFT is providing a 10 percent rebate on 2014 messaging fees because of “strong traffic growth” for its services, officials say. The cooperative expects to return $35.4 million or approximately €30 million to its users in March. “We have seen strong traffic growth this year as a result of our… Read More >>
FTF Panel: U.S. Markets Should Move to T+0
A panelist at FTF’s ReCon New York event on Thursday is calling for the U.S. securities industry to move to a T+0 settlement cycle rather than the incremental move to T+2, citing the truism that nothing good happens between trade date and settlement. That’s a phrase heard often from operations managers, and it was heard… Read More >>
SS&C: Streamline FIX & SWIFT Messaging
(Editor’s Note: Before SWIFT’s SIBOS conference and exhibition in Boston got underway, FTF News reached out to key vendors working in the post-trade operations space to gather their expectations for the financial messaging cooperative. Bob Shaw, director, electronic trade communications, SS&C Technologies, has responded to our questions. SIBOS was held at the Boston Convention &… Read More >>
SWIFT App for ISO 20022 Gaining Ground
A year after its launch, the ISO 20022 Adoption mApp is proving to be effective in helping the SWIFT financial messaging cooperative push a harmonization agenda for the standard, says Stephen Lindsay, the head of standards for SWIFT. Lindsay presented his findings at the Standards Forum of the SIBOS conference and exhibition in Boston last… Read More >>
Blurred Lines: OTC Reforms for Voice Trading
(Editor’s note: This is the online version of the story appearing in the Fall 2014 edition of FTF News magazine, which will be available on the website later this month. The print edition of the magazine debuted at the SIBOS 2014 conference and exhibition in Boston last week. The event, put on by financial messaging… Read More >>
SWIFT Extends Alliance Lite2 to Business Apps
Financial messaging and services cooperative SWIFT has extended its cloud-based connectivity solution Alliance Lite2 to business applications, according to a statement released at the SIBOS 2014 Boston conference and exhibition. The conference, put on by SWIFT, is underway at the Boston Convention & Exhibition Center from Sept. 29 to Oct. 2. In a related move,… Read More >>
SIBOS News Bullets
As the SIBOS 2014 Boston conference and exhibition winds down, several key vendors serving securities markets have released product news. The event, put on by financial messaging and services cooperative SWIFT, is underway at the Boston Convention & Exhibition Center from Sept. 29 to Oct. 2. Officials at SunGard Financial Systems report that IntelliMatch Operational… Read More >>
XSP: Firms Are Migrating to ISO 20022
Q: What SWIFT-related product trends have you seen among your clients for this year? A: We are seeing a continued migration toward 20022, with more firms moving beyond the proof-of-concept phase and beginning to highlight one or two pilot projects. Having tools that can facilitate this process has helped firms greatly. DTCC transformation and the… Read More >>
Survey: Regulatory Overhaul Boosts Role of COO
The status of chief operating officers (COOs) appears to be on the rise as financial services firms take on dramatically new business models driven by global regulatory and market structure changes, according to a survey, sponsored by Broadridge Financial Solutions and conducted by The Economist Intelligence Unit. Broadridge, which provides investor communication services, solutions and… Read More >>
DTCC, Euroclear Launch Collateral Services Venture
The DTCC and Euroclear, both providers of post-trade market infrastructure services, have unveiled a joint venture that will “develop and streamline margin settlement processes and enhance access to securities collateral worldwide,” according to a spokesperson. The new company will target industry participants that have to comply with clearing and margining regulatory mandates, officials say. The… Read More >>
