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 >>
FundGuard Raises $100M to Ramp Up Platform & Staff
FundGuard, an investment accounting platform provider founded in 2018, has just raised $100 million via Series C funding — generally for late-stage startups — because the company is the first of its kind in 25 years to advance securities operations, company officials say. FundGard will be using the cash infusion to hasten the development of… Read More >>
Clearstream Taps Intix to Bolster Data Management
Deutsche Börse Group’s post-trade services company Clearstream is working with data solutions provider Intix in an effort to meet regulatory and customer demands for better access and management of financial messaging data, officials say. Intix is a transaction data management platform that helps financial services firms “monitor, comply, manage risk, and detect fraud in every… Read More >>
Apex Fintech Solutions Acquires AdvisorArch
Apex Fintech Solutions intends to strengthen its RIA Custody and Execution Platform with digital advice tools that will be added as a result of Apex’s acquisition of AdvisorArch, a portfolio management and rebalancer provider, officials say. Apex will not be disclosing the financial details of the acquisition, which is expected to be final on April… Read More >>
Time to Step Up Your T+1 Game?
Another T+1 readiness survey has highlighted a persistent lack of preparedness among buy-side firms as the summer deadline for the T+1 transition for the U.S., Canada, and Mexico approaches. Despite the Depository Trust and Clearing Corp.’s (DTCC) assurances, recent reports from vendors and banks depict concerning levels of unpreparedness among investment managers. This lack of… Read More >>
Broadridge Embraces SaaS for Futures & Options Platform
Broadridge Financial Solutions has just launched a Software-as-a-Service (SaaS) platform, dubbed Broadridge Futures and Options (F&O), to “transform order and execution management capabilities for sell-side institutions,” according to the post-trade systems and services provider. The new F&O platform, which expands Broadridge’s support for derivatives trading, has been “tailored for futures commission merchants (FCMs) and agency… Read More >>
