Many firms could be heading for “an operational disaster” caused by rising transactional volumes, soon-to-be-overwhelmed manual reconciliation processes, and a reliance on legacy systems, and outdated technology, according to a new report “The Tipping Point for Asset Management Operations: The rising costs of operational complacency” from provider AutoRek. The report, based on securities industry surveys,… Read More >>
STP Investment Services Unveils ‘STP LaunchAdvisor’
Investment operations solutions provider STP Investment Services has just unveiled STP LaunchAdvisor, a bundle of services — fund administration, investor services, regulatory filings, and core policies — targeting exempt reporting advisers and private fund managers. “The offering integrates fund administration and compliance into a single, cost-effective solution, eliminating the need for multiple service providers and… Read More >>
BNY Invests in EquiLend & Will Use ‘1Source’
The Bank of New York Mellon Corp. has made an undisclosed minority investment in EquiLend, a technology, data, and analytics solutions provider for the securities finance industry, and BNY along with eight other financial institutions making strategic investments will advise EquiLend on further innovation and efficiency in securities finance transactions. BNY will also be among… Read More >>
SEC Roundtables Take On Crypto & A.I.
The SEC is hosting key industry roundtables this month – one will be a series of roundtables on the regulation of cryptocurrencies, and the other will be a one-day event on the governance of artificial intelligence (A.I.). The SEC’s newly formed Crypto Task Force “will host a series of roundtables to discuss key areas of… Read More >>
Can Tokenization Save Asset Managers $135 Billion?
Tokenization is “the process of transforming asset ownership into digital tokens on a blockchain,” and it could also be one of the fastest ways for the asset management industry to save $135 billion by trimming the costs associated with traditional fund accounting, transfer agencies, compliance monitoring, and regulatory reporting. This is according to the recently… Read More >>
U.K. Fires Starting Gun on T+1 Settlement
The U.K. Accelerated Settlement Taskforce (AST) has officially kicked off the transition to a T+1 settlement cycle, with backing from the U.K. government, the Bank of England, and the U.K. regulator, the Financial Conduct Authority (FCA). The switch is set for October 11, 2027, marking a major operational shift for UK financial services firms. AST… Read More >>
‘EDI Bot’ for CA Data Debuts via Symphony
Exchange Data International (EDI) is offering near real-time, global corporate action updates via its EDI Bot, available via the Symphony Messaging service, officials say. The new bot is intended to simplify “the retrieval of crucial data, allowing users to access and manage corporate actions” within Symphony, according to the announcement. The EDI Bot’s key features… Read More >>
MBI Launches Crypto Links to Tokyo & European Hubs
A provider of ultra-low latency, wireless connectivity for crypto trading, McKay Brothers International (MBI), has launched what it is calling “the lowest latency connectivity” for crypto-trading hubs in Tokyo, London, and Dublin to meet growing demand for low-latency crypto transactions. “The new service achieves sub-132ms latency (round trip) between Tokyo and London. McKay’s Tokyo-London-Dublin service… Read More >>
What Is Your Firm’s Crypto Assets Exposure?
(Bloomberg recently launched a service — Digital Asset Exposure Analytics — that provides views into direct and indirect digital asset exposure for spot currencies, futures, options, and equity tickers for companies engaged in crypto activities and funds holding these assets. The new service is intended to help firms such as asset managers, discern whether crypto… Read More >>
State Street and SS&C Revamp IFDS in Europe
State Street Corp. and SS&C Technologies plan to restructure the European components of their record-keeping solutions and business process outsourcing joint venture, dubbed International Financial Data Services (IFDS), but will keep their IFDS Canada effort intact for North American markets, officials say. IFDS Canada, Ireland, and Luxembourg are 50/50 joint ventures between State Street and… Read More >>
