A new survey from SS&C Technologies finds that artificial intelligence, particularly in its more advanced iterations, has captured the imagination of executive and senior IT and operations managers at financial services firms. However, firms need to do much more groundwork, such as building “the foundations — governance, trust, skills, readiness and more” before embracing advances… Read More >>
Flexibility Is Key to Optimal Client Reporting: FactSet
(P. McKay Marschalk Jr., CFA, vice president, director, reporting and distribution product management at FactSet, took time out of his busy schedule to answer questions about current data demands, outsourcing vs. internal control, third-party databases and questionnaires, and FactSet’s embrace of a generative A.I. commentary solution. The through-line for all of these concerns is maintaining… Read More >>
Joint Whistleblowers Share $6M from the SEC
Two whistleblowers were likely celebrating during the Spring holidays as they were awarded approximately $6 million by the Securities and Exchange Commission (SEC). They provided new information “that led to the opening of an examination and provided a roadmap for an enforcement action that resulted in the covered action,” according to the SEC. The financial… Read More >>
‘Lynq’ Settlement Network for Digital Assets Launches
A real-time, yield-bearing settlement network, dubbed Lynq, has launched with the backing of Arca Labs, Tassat Group, and tZERO Group. It is supported by a tokenized treasury fund and custodied via a special-purpose broker-dealer. “This announcement comes after more than a year of market engagement, platform development, and the creation of the Arca Institutional U.S…. Read More >>
Paul Atkins Will Drive a New Era for the SEC
Earlier this month, the U.S. Senate confirmed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC) by a 52-to-44 vote that enables Atkins to finish the remainder of former SEC Chair Gary Gensler’s term, which expires June 5, 2026. (Atkins was officially sworn in on April 21 and can stay onboard… Read More >>
Providers Try New Ways to Ease Collateral Management
The new tariff wars are spurring new operational challenges across global markets, a situation made more difficult by less-than-optimal collateral management operations at many firms. As firms navigate fluctuating markets and regulations, post-trade infrastructure provider the Depository Trust & Clearing Corp. (DTCC), and established providers SmartStream and Finastra are exploring new ways to optimize collateral… Read More >>
Affin Group Taps Bloomberg to Streamline Ops
Officials say the Affin Group, a Malaysian banking and financial services company headquartered in Kuala Lumpur, has selected Bloomberg’s Sell-Side Order and Risk Management suite of solutions to improve workflows, strategic decision-making, and its regulatory reporting framework. The Affin Group will implement Bloomberg TOMS, a sell-side order management system (OMS), to help the company “realize operational… Read More >>
Wall Street Bonuses Show ‘Significant Bump’ for 2024
Wall Street bonuses for 2024 are estimated to hit $244,700, an increase of almost one-third — 31.5 percent — over bonuses for 2023, marking the first “significant bump” since 2021, according to the annual review compiled by New York State Comptroller Thomas P. DiNapoli. However, this bonus bounce may not be repeated next year as… Read More >>
Nasdaq Wants ‘Smart Reforms’ to Strengthen Public Companies
Private markets are becoming more appealing as public companies face greater burdens and an unpredictable regulatory environment. So say Nasdaq officials who want to change this situation by strengthening capital markets and recommending key public policy proposals to make that happen. The policy recommendations are featured in a paper, “Advancing the U.S. Public Markets: Unlocking… Read More >>
Q&A: Tariff Battles Could Lead to Ops Layoffs
(Last week, Johnson Associates, a provider of compensation consulting services, presented a review of the financial services industry in 2024 and initial thoughts on compensation and related developments for 2025. Some of the key matters covered included the layoffs of 2024, the convergence of public and private markets, technologies impacting headcount, and the surprises so… Read More >>
