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Deutsche Bank Securities Fined $6M for ‘Blue Sheet’ Woes

July 7, 2016 by Louis Chunovic

The Financial Industry Regulatory Authority (FINRA) reports that Deutsche Bank Securities Inc., a subsidiary of Deutsche Bank, has been fined $6 million for “failing to provide complete and accurate trade data in an automated format in a timely manner when requested by FINRA and the Securities and Exchange Commission (SEC).” “Blue sheets” is the informal… Read More >>

Filed Under: Derivatives Operations, Securities Operations, Ops Automation, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance Tagged With: blue sheets, CFTC, Deutsche Bank Securities, FCM, fines, FINRA, futures commission merchant, SEC, trade reporting

FIX to Get Extensions for MiFID II Compliance

June 14, 2016 by Eugene Grygo

The FIX protocol is being modified to provide mappings to the ISO 20022 data standard required for trade reporting to European authorities, and a forthcoming FIX version will support Market Model Typology (MMT) 3.0, intended to facilitate MiFID II compliance, according to the FIX Trading Community standards body. MiFID II transaction reporting extends the reporting… Read More >>

Filed Under: Securities Operations, Industry News, Middle-Office, FinTech Trends, Back-Office, Standards, Regulation & Compliance, Regulatory Reporting Tagged With: Approved Reporting Mechanisms (ARMs), Deutsche Borse, ESMA, FIX, FIX Trading Community, ISO 20022, Market Model Typology (MMT) 3.0, middle office, MiFID II, RTS 1, RTS 2, Standards, trade reporting

LSEG & Boat to Launch Combined Reporting Services

June 8, 2016 by Eugene Grygo

TRADEcho to Hit Early Next Year The London Stock Exchange Group (LSEG) and Boat Services Ltd. will be offering TRADEcho, a combination of the two vendors’ existing and complimentary trade reporting services, officials say. TRADEcho is slated to be available by the first quarter of 2017 and will offer a single trade reporting venue and… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Securities Operations, Industry News, Middle-Office, Operational Risk, Risk Management, Settlement, FinTech Trends, Back-Office, Standards, Regulation & Compliance Tagged With: Boat Services, CCP, collateral management, Comprehensive Capital Analysis and Review (CCAR), counterparty risk, Dodd-Frank, EMIR, Federal Reserve Board, ISO 20022, LCH, London Stock Exchange Group, LSEG, MiFID II, risk management, stress tests, SWIFT, T+1, trade reporting, TRADEcho

Acadian Asset Management to Overhaul IT Architecture

May 17, 2016 by Eugene Grygo

Boston-based Acadian Asset Management will deploy a managed services enterprise data management (EDM) offering from financial information services and systems vendor Markit as the keystone for an IT architecture overhaul, say officials at the firm. Acadian will be using Markit EDM as “a foundational element of its IT architecture transformation across the front, middle and… Read More >>

Filed Under: Derivatives Operations, Collateral & Margin Management, Derivatives Processing, Securities Operations, Data Management, Industry News, Risk Management, FinTech Trends, Back-Office, Regulation & Compliance, Derivatives Tagged With: acadian asset management, Australian Securities and Investments Commission (ASIC), Baringa Partners, Catena Technologies, collateral management, commodity risk management, Enterprise Data Management, Markit, Markit EDM, OpenLink, OTC derivatives, PM Capital, trade reporting, treasury risk management

Sapient’s RegRecon Targets Key Recs Woes

May 13, 2016 by Eugene Grygo

Consultancy Sapient Global Markets says it’s taking on the reconciliation issues of low-match rates and inaccurate regulatory reporting via the launch of the RegRecon middleware that the vendor says will facilitate automated trade matching and reconciliation, break management, and a workflow for resolution. “The regulators require institutions to establish processes for identifying and resolving data… Read More >>

Filed Under: Securities Operations, Middle-Office, Operational Risk, Ops Automation, Reconciliation & Exceptions, Risk Management, FinTech Trends, Back-Office, Regulation & Compliance Tagged With: Arun Karur, automation, key performance indicator, KPI, manual systems, reconciliation, regulatory reporting, Sapient GLobal Markets, trade matching, trade reporting, Universal Trade Identifiers, UTIs

JPMorgan Penalized $225K for Reporting Errors

March 31, 2016 by Eugene Grygo

Officials at JPMorgan Ventures Energy Corp. (JPMVE) and JPMorgan Chase, N.A. (JPMCB) have an idea of how much errors in large trader reports (LTRs) will cost them as the CFTC recently issued an order settling charges and imposing a $225,000 civil monetary penalty. For the Large Trader Reporting program, the CFTC operates “a comprehensive system… Read More >>

Filed Under: Derivatives Operations, Operational Risk, AML/Fraud/Financial Crime, Regulation & Compliance, Derivatives, Regulatory Compliance Tagged With: CFTC, commodities, counterparty risk, FCMs, fines, JPMorgan Chase, JPMorgan Ventures Energy, swaps, trade reporting

Sapient Debuts Portal to Compliance Platform

January 13, 2016 by Eugene Grygo

With the official debut of the CMRS Portal, an outsourced, “low-touch” web link, consultancy Sapient Global Markets is targeting smaller securities firms that have a fairly low volume of derivatives trades to report to regulators and other organizations. The CMRS Portal will allow firms to use the services of the established Sapient CMRS (Compliance Management… Read More >>

Filed Under: Derivatives Operations, Governance, Regulation & Compliance, Derivatives, Regulatory Compliance, Regulatory Reporting Tagged With: automation, CME, CMRS Portal, compliance, derivatives, Dodd-Frank, EMIR, ICE Trade Vault, MiFIDII, REGIS-TR, regulation, Sapient GLobal Markets, trade reporting, UnaVista

Texas Hedge Fund to Use Broadridge Platform

January 12, 2016 by Eugene Grygo

Hedge Fund Signs Up for Broadridge’s Service The Austin, Texas-based Prophet Capital Asset Management, a $2.3 billion structured credit hedge fund, is using an integrated trading, portfolio management and operating platform from Broadridge Financial Solutions to support a single platform for trading, according to Broadridge. “An established structured credit fund like ours, with a two-decade… Read More >>

Filed Under: Derivatives Operations, Securities Operations, Buy-Side, Industry News, Middle-Office, Ops Automation, Reconciliation & Exceptions, FinTech Trends, Back-Office, Regulation & Compliance, Derivatives, Regulatory Compliance Tagged With: automation, Banque Cantonale Vaudoise, Broadridge Financial Solutions, Dodd-Frank, EMIR, FinfraG Act, fintech, post trade, Prophet Capital Asset Management, reconciliation, trade reporting

SwapClear to Use Markit’s New Netting Service

November 19, 2015 by Eugene Grygo

The SwapClear clearinghouse is using a netting synchronization service for cleared, over-the-counter (OTC) derivatives just launched by financial information services vendor Markit. Markit is introducing the service in a bid to help banks “automatically update their risk systems after netting and compression activity at their clearing houses,” say vendor officials. “Netting exposures within a clearing… Read More >>

Filed Under: Derivatives Operations, Derivatives Processing, Securities Operations, Clearing, Data Management, Operational Risk, Risk Management, Settlement, FinTech Trends, Back-Office, Regulation & Compliance, Derivatives, Regulatory Compliance Tagged With: block trades, clearing, data management, LCH.Clearnet, Markit, MarkitSERV, OTC derivatives, post-trade execution, post-trade operations, regulatory reporting, risk management, SwapClear, trade confirmation, trade reporting

Firms Stung by Costly Trade Reporting

March 27, 2015 by Ryan Boysen

Financial services firms and market participants affected by derivatives trade reporting requirements are finding it difficult – and increasingly costly – to cope with the regulations, according to a new white paper from business and technology services and solutions vendor Sapient Global Markets. In “The Rising Cost of Trade Reporting: Can Firms Afford to Stay… Read More >>

Filed Under: Derivatives Operations, Securities Operations, Industry News, FinTech Trends Tagged With: Dodd-Frank, EMIR, ICE Futures U.S., isda, Sapient GLobal Markets, trade reporting

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