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 >>
E.U.’s T+1 Leader Faces Quirks & Fragmentation
The European Union’s transition to T+1 settlement hasn’t been keeping Giovanni Sabatini up at night yet. However, potential technical complexities that could derail the process are top of mind for the man tasked with shepherding all 27 E.U. member states across the finish line by October 11, 2027. Sabatini was recently elected to lead of the Industry… Read More >>
LDA Technologies Device Targets Data & Record-Keeping Woes
LDA Technologies, a developer of advanced ultra-low latency integrated circuits and network solutions for capital markets, has launched NeoTap X, a high-performance hardware solution that can be applied to trade monitoring, compliance reporting, advanced analytics, and optimizing network performance, officials say. The timestamping and tap aggregation features of NeoTap X are intended to help firms… Read More >>
Revamped & Rebranded ‘Vistra Fund Solutions’ Launches
Vistra, a provider of business services for funds, has launched Vistra Fund Solutions, a global offering derived from Vistra’s acquisition of the fund administration and transfer agent business of Phoenix American Financial Services, Inc. last year, officials say. “We have reorganized our service delivery to embed a client-centric service culture that is underpinned by a… 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 >>
SS&C to Open an Office in Saudi Arabia
SS&C Technologies is opening an office in Riyadh, the capital of Saudi Arabia, that will be headed by Issa Jadon, director, strategic accounts, who will help the post-trade systems and services provider develop its working relationship with the Capital Markets Authority and the Saudi Arabian Monetary Agency, officials say. The move into the financial hub… 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 >>
Archax Acquires Globacap Private Markets
Archax, a digital and traditional asset exchange, broker, and custodian, is extending its reach into U.S. markets with the acquisition of Globacap Private Markets Inc., a broker-dealer and alternative trading system (ATS) that will be renamed Archax Markets U.S., officials say. “The acquisition of Globacap PMI in the U.S. builds on the strong partnership we… Read More >>
SEC Crypto Task Force Schedules More Roundtables
Following its first roundtable on March 21, the Crypto Task Force of the Securities and Exchange Commission (SEC) has slated four more roundtables as part of its ongoing series focused on crypto asset regulation. The task force dates and subjects for each roundtable are as follows: April 11, 2025: “Between a Block and a Hard… Read More >>
Groups Clash Over U.K.’s Approach to T+1 Adherence
Industry groups in the U.K. are clashing over whether the U.K.’s industry-led, principles-based approach to shorter T+1 settlement will be sufficient to facilitate an orderly transition by October 11, 2027. The U.K.’s Accelerated Settlement Taskforce published its final implementation plan, including the T+1 Code of Conduct, on Feb. 6, 2025. The plan outlines the scope,… Read More >>
