Broadridge Targets Collateral Management
Broadridge Financial Solutions, a solutions provider for financial firms and corporate issuers, is launching CollateralPro, an enterprise-wide system for bilateral and cleared derivatives, and securities financing transactions, officials say.
CollateralPro, which can be hosted as a managed service or deployed onsite, has optimization module to help clients improve liquidity and profitability via asset allocation, officials say. The new solution can integrated as a holistic solution with Broadridge or with other platforms, officials say.
The new solution targets investment banks, asset managers aEBSnd service providers that need to comply with industry regulations and changes in collateral requirements. It also incorporates best practices via an alliance between Broadridge and Lombard Risk that targets efficiency, cost reductions and risk mitigation.
GFI Group to Use XBRL for EBA Reporting
Wholesale brokerage GFI Group is using Lombard Risk Reporter from vendor Lombard Risk Management to meet the requirements of the Common Reporting (CoRep) standardized reporting framework issued by the European Banking Authority (EBA), officials say. The CoRep will cover GFI’s operations in the United Kingdom and its subsidiary Kyte Group.
Lombard’s Risk Reporter is an end-to-end regulatory reporting solution for the global financial services sector that will provide GFI Group with the XBRL-format reporting mandated by regulators. XBRL-based reporting was recently specified by a European Union directive requiring that all submissions of regulatory returns in Europe are expressed in XBRL code, starting May 30, 2014.
More than 200 firms globally use Risk Reporter, including more than 60 firms for EBA CoRep, according to Lombard Risk Management, a provider of integrated regulatory reporting, compliance and collateral management solutions for the financial services industry.
EBS Debuts Mobile App for Spot FX Market
EBS, which offers spot foreign exchange matching and liquidity services, is launching Watch EBS, a mobile application that provides an overview of the global spot FX market, officials say.
The app features near real-time spot FX rates from the EBS market platform, as well as precious metals rates, non-deliverable forward rates and ICAP forward rates, the company reports. The app also updates content, allowing customers to see highs and lows, dynamic charts and news from FxWire Pro.
Additionally, the app can be personalized to meet customer requirements and allows them to create personal portfolios, define their own news feeds, set alerts and build their own menus, EBS says.
The app is now available for the following environments: Apple iOS (iPhone and iPad); Google Android (phone and tablet); and BlackBerry devices.
“Our customers need to remain close to their trades and mobile devices play an important part in facilitating this,” says Viral Tolat, chief technology officer for EBS in a statement.
Truphone Offers Mobile Recording for Compliance
Truphone, the mobile network and mobile-recording-solutions provider, is offering unlimited voice and short message service (SMS) recording as part of a promotion that it calls a “global drive to help financial institutions comply with mobile voice recording regulations.”
The majority of regulated firms are not compliant, say Truphone officials, citing expense of implementing recording solutions as “the biggest obstacle.”
The new mobile recording offering is designed to help ease the cost of compliance for financial organizations, “as they look to remain compliant in today’s highly regulated market,” the company says in a statement that also cites findings by Ovum, the technology and business analysis firm, that “only 33% of UK banks are compliant with regulations, citing cost as the main reason for not implementing mobile recording solutions.”
Truphone Mobile Recording is a “network-based solution that facilitates global compliance” and enables financial services firms to “store and encrypt all calls and texts, allowing banks to quickly and easily reconstruct a trade if required to by the regulator,” say Truphone officials
‘Smarsh Sites’ Hosting Targets Financial Services
Smarsh, a vendor of hosted archiving solutions for social media, has launched Smarsh Sites, a website hosting and production platform for the financial services industry, officials say.
The Smarsh Sites system is intended to help ease the creation, editing and publishing of website content, based on their design and content preferences, officials say.
The system also offers a unique user interface that enables compliance departments to identify, view and approve all website content in support of compliance initiatives. Smarsh officials say they are leveraging the team at AdvisorSquare, acquired in 2012, to build the new Smarsh Sites platform from the ground up.
Curo Fund Services Develops EDM Plan via InvestTech
InvestTech has completed an enterprise data management (EDM) strategy project for Curo Fund Services, a South African investment administration services provider, officials say.
Curo Fund Services applied InvestTech’s EDM Strategic Framework to target Curo’s long-term business/strategic data requirements, officials say. The strategy will also be used to oversee Curo’s data services and its deployment of a long-term EDM platform.
InvestTech also “assessed and optimized” Curo’s prior investment in a target data architecture, officials say. The key business drivers for Curo are data integration, data quality, process automation, and reporting services. Curo supplies outsourced back-office services to asset managers of domestic and foreign assets.
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