(Editor’s note: As many firms have found out, the Securities and Exchange Commission (SEC) was serious when it announced a crackdown on the recordkeeping culture of the U.S. securities industry. Nearly 30 of the industry’s top financial services firms have been accused of violating recordkeeping rules. In fact, during the SEC’s 2023 fiscal year, 25… Read More >>
iCapital Buys Mirador to Better Serve Alts Space
iCapital, a platform provider for alternative investment markets, is hoping to expand its data management and reporting capabilities for the wealth management, family office, endowment, and foundation segment markets via its recently announced acquisition of Mirador, officials say. Mirador offers investment data aggregation, financial reporting services, middle office support, and IT solutions and products to… Read More >>
U.K. Taskforce Urges ‘Pragmatic,’ Two-Phase T+1 Transition
The Accelerated Settlement Taskforce, initiated by the U.K. government to explore expediting the settlement of financial trades in the U.K., has released its latest report, advocating for the transition to T+1 by December 31, 2027. Speaking to FTF News, Charlie Geffen, chair of the task force, says a very clear theme has emerged: the U.K…. Read More >>
FTF Unveils the 2024 FTF Awards Nominees!
Financial Technologies Forum (FTF) has unveiled the nominations for the 2024 FTF News Technology Innovation Awards competition, and the list of nominees reflects the dynamics of an industry facing digital transitions, a major effort to shorten settlement, and a final push to eliminate manual processes. The winners of the FTF Awards competition are chosen by… Read More >>
SIX Expands Fixed Income Wares via FactEntry Acquisition
SIX, an exchanges and financial data company, reports that it has acquired a majority stake in FactEntry, a fixed income data and solutions vendor, as a way for SIX to strengthen its cross-asset data offerings for the front-, middle-, and back-office. The majority stake acquisition closed on March 27, 2024, and financial terms and deal… Read More >>
Swift Explores CBDC Links to FX, Tokens & Liquidity
The global Swift financial messaging cooperative has completed a collaborative “sandbox experiment” testing the interoperability of an interlinking solution for central bank digital currencies (CBDCs) intended to “simplify and speed up trade flows, unlock growth in tokenized securities markets, and enable efficient FX settlement,” officials say. CBDCs are the digital currencies likely to be issued… Read More >>
T+1 Could Spur Leaks About Sec Lending Intentions
Unease persists in the securities-lending industry as the transition to T+1 continues, driven by concerns over heightened information leakage risks and the necessity for substantial technological upgrades Earlier this month, Bloomberg Intelligence released research indicating that accelerating settlement cycles and the subsequent squeeze of securities borrow/lend processes could leave asset owners footing an eye-watering $24… Read More >>
Corporate Actions Pilot Takes Aim at Manual Processes
(Editor’s Note: In early March, DTCC officials conducted a two-phased pilot program to bring more automation to corporate actions (CA) processing. The effort addresses decades-long asset services challenges around the sourcing of corporate actions announcements via streamlining interactions across the agent and issuer community through standards and automation. The ultimate goal is to eliminate manual… Read More >>
Shrinking Bonuses Pale in Comparison to the A.I. Threat
Many Wall Street participants, including middle- and back-office teams, are getting ready to celebrate a variety of spring holidays with the added bonus of a real bonus for their efforts last year. However, some may find that their bonuses have shrunk compared to last year. What may be more disturbing, though, is that a prominent… Read More >>
BBH Targets Securities Lending Ops Amid T+1
Brown Brothers Harriman & Co. (BBH) is offering a third-party solution intended to help firms avoid securities lending failures while processing transactions in the trading day plus one (T+1) settlement cycle that begins in late May of this year in North America. Hoping to smooth its North American clients’ transition to T+1, BBH is partnering… Read More >>
