Earlier this year, Bloomberg Intelligence (BI) estimated that the U.S. transition to T+1 settlement could cost the securities industry more than $31 billion a year, with the move reflecting “profound implications” for both the U.S. and global markets. For now, though, the full impact is still emerging, says Gerard Walsh, who leads Northern Trust‘s global… Read More >>
Events Exchange Kalshi Klear Wins DCO Approval
Kalshi Klear LLC, a regulated exchange and prediction market, is a new derivatives clearing organization (DCO) via an order of registration from the Commodity Futures Trading Commission (CFTC). CFTC officials say Kalshi has demonstrated its ability to comply with the Commodity Exchange Act (CEA) and CFTC regulations that apply to DCOs. Kalshi’s affiliate, KalshiEx LLC,… Read More >>
Get Ready for More Form N-PORT Reporting!
An overhaul is coming for Form N-PORT via amendments recently passed by the Securities and Exchange Commission (SEC). “Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess a fund’s risks,” the SEC explains. “The Form N-PORT amendments will require … generally registered open-end funds, registered closed-end funds,… Read More >>
SmartStream Adds Faster APIs to TLM Collateral Management
Officials at post-trade technology provider SmartStream say that their Transaction Lifecycle Management (TLM) Collateral Management solution, version 7.0, bolsters straight through processing via new workflow automation support for margin, interest, and substitution calls. The changes are intended to help financial services firms that face rising costs, regulatory pressures, increased risk profiles, and that need “better… Read More >>
Barnett Waddingham Stays With GBST’s Upgraded ‘Composer’
Financial technology provider GBST reports that its Composer platform will continue to support the Self-Invested Personal Pension (SIPP) administration program of professional services consultancy Barnett Waddingham via the renewal of their agreement. The London-based Barnett Waddingham is an independent professional services consultancy serving risk, pensions, investment, and insurance markets. “GBST has provided SIPP technology to… Read More >>
NT Hedge Fund Services Embraces Energy Trading
Northern Trust Hedge Fund Services (NTHFS) has added support for spots, forwards, futures, and physical contracts in energy and physical commodities to its Omnium platform in response to the growing number of asset managers who are trading in global energy markets, officials say. Officials say Omnium is a middle-office and accounting platform that supports an… Read More >>
India’s T+1 Journey Has Lessons for North America
Nearly a year-and-a-half before the U.S., Canada, Mexico, Argentina, and Jamaica transitioned to a shorter settlement cycle for equities, corporate bonds, and municipal securities, India quietly implemented its T+1 settlement cycle intending to enhance liquidity and operational efficiency for India’s growing domestic markets. India also appears to have made a cost-effective transition — which may… Read More >>
State Street & Taurus to Build Digital Custody Services
State Street Corp. is bolstering its digital asset solutions business via an agreement with Taurus SA, a digital asset infrastructure provider, in response to institutional interest in digital assets that’s “at an all-time high,” according to the Boston-based custodian bank. The collaboration will add tokenization and digital custody services support to the custodian’s currently available… Read More >>
ProCap Readies Custody for 3 Digital Asset Securities
With the addition of Uniswap (UNI) and Arbitrum (ARB) to its custodial platform, Prometheum Ember Capital will offer custodian support for three digital asset securities, as the firm previously announced custody services for Ethereum’s ether (ETH) token. Prometheum Capital officials say the firm intends to fully launch its custodial services to institutional investors later this… Read More >>
ASX Sued Over Remarks About CHESS Replacement Effort
The Australian Securities and Investments Commission (ASIC), the securities industry regulator for Australia, is taking exchange operator the Australian Securities Exchange (ASX) to court over allegations that ASX officials made “misleading statements related to its Clearing House Electronic Subregister System (CHESS) replacement project.” The case was filed in the Federal Court of Australia on Aug…. Read More >>
