French banking giant BNP Paribas has added to a solution that it’s using to streamline the allocation of credit for FX transactions between banks — Dynamic Credit from CobaltFX — with the deployment of the CobaltFX Analytics offering, officials say. The newly launched CobaltFX Analytics offering builds on the Dynamic Credit product, which has been… Read More >>
EDGAR Now Supports IFRS, Security-Based Swap Taxonomies
The SEC has upgraded the popular public database of financial information and operations of public companies, the Electronic Data Gathering, Analysis, and Retrieval, or EDGAR, to support more industry-relevant taxonomies. EDGAR Release 24.2, released on July 1, “now supports the 2024 version of the International Financial Reporting Standards (IFRS) taxonomy and now accepts the Security-Based… Read More >>
FICC Debuts Risk Tool for U.S. Treasury Clearing
Industry players in U.S. Treasury transaction markets can now access a free, public-facing Value at Risk (VaR) calculator that will help them comply with SEC rules that will expand clearing requirements for them. The DTCC’s Fixed Income Clearing Corp. (FICC) has launched the new tool, accessible via a web browser, which provides “the ability to… Read More >>
Broadridge Buys CompSci to Add SEC Filing Features
Broadridge Financial Solutions will be expanding its range of services for regulatory filings and disclosure for public companies and funds with the acquisition of provider CompSci Resources, maker of a Web-based, collaborative platform for SEC disclosure preparation, officials say. CompSci’s Transform platform for eXtensible Business Reporting Language (XBRL) tagging and Electronic Data Gathering, Analysis, and… Read More >>
Did FX Workarounds Help Firms Get to T+1?
The foreign exchange (FX) industry has been tight-lipped since North America transitioned to a shorter settlement cycle a little over a month ago. However, more light is being shed on the operational workarounds buy-side firms deployed to meet the deadline. Though concerns about FX liquidity and pricing prior to the transition have not necessarily materialized,… Read More >>
Canada Life Asset Management Taps Northern Trust
The Canada Life Asset Management (CLAM) group has picked Northern Trust to provide asset servicing solutions because of the provider’s focus on operating model efficiency and on data quality, according to the firm. The new arrangement will see Northern Trust providing middle office outsourcing, global custody, securities lending, fund administration, and depositary services which should… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
DTCC & Chainlink Explore Mutual Fund Tokenization
The DTCC and Chainlink have been busy with something they are calling the “Smart NAV pilot,” which was an attempt to apply the digital asset capabilities of both organizations to mutual fund tokenization. (NAV is “net asset value,” or an investment firm’s total assets once all liabilities have been subtracted.) In mid-May, both players went… Read More >>
Marlborough Taps SS&C for Fund Services
Marlborough, a U.K. investment management and fund solutions group, has selected SS&C Technologies to provide fund accounting, middle-office, and transfer agency services. “SS&C has signed a long-term agreement with Investment Fund Services Ltd. (IFS), which is Marlborough’s authorized corporate director (ACD) and authorized fund manager (AFM) business,” according to the announcement. The agreement specifies that… Read More >>
T+1: No Victory Until Affirmations Reach 100%
As many teams in North America canceled their weekly T+1 transition meetings, Securities and Exchange Commission Chair Gary Gensler has called on the U.K. to trigger its own implementation. Top of the list of lessons to learn from North America’s transition, Gensler said, is setting a date. “Until you do that, it is a lot… Read More >>
