Asset manager Harbor Capital Advisors implemented Geneva Managed Services from SS&C Technologies last month and will be using application programming interfaces (APIs) to integrate Geneva with the firm’s deployment of the SS&C Eze OMS (order management system), officials say. The Geneva offering helps firms manage asset classes and multi-currency portfolios via a single system. The… Read More >>
Crypto FIGIs Debut in Time for Bitcoin ETFs
Bloomberg and Kaiko, a cryptocurrency data company, report that they have issued Financial Instrument Global Identifiers (FIGIs) for nearly 8,000 crypto assets and that FIGIs have been assigned to the cryptocurrency-related exchange-traded products (ETPs) and exchange-traded funds (ETFs) hitting the financial markets now. Bloomberg and Kaiko began their collaboration with the first series of FIGIs… Read More >>
Private Equity Firm Acquires EquiLend
Private equity firm Welsh, Carson, Anderson & Stowe (WCAS) has acquired a majority stake in EquiLend, a technology, data, and analytics provider for the securities finance industry, officials say. WCAS is “impressed with EquiLend’s highly differentiated suite of technology solutions and its sustained trusted client relationships,” says Ryan Harper, a general partner at the private… Read More >>
Nominations Are Open for the 2024 FTF Awards!
Financial Technologies Forum (FTF) has launched the nomination process for the 2024 FTF News Technology Innovation Awards competition, which recognizes the operational excellence of professionals, financial technology vendors, service providers, and industry bodies that had significant achievements in the 2023 calendar year. The winners of the FTF Awards competition are chosen by their peers in… Read More >>
Europe’s T+1 Lag Could Spur Global Settlement Disarray
The impending switch to T+1 settlement in North America scheduled for May 28, 2024, has raised concerns in Europe, where market participants report a lack of international testing. Although not officially moving to T+1 just yet, Europe launched its T+1 taskforce led by the Association for Financial Markets in Europe (AFME) in March last year. In early conversations… Read More >>
Time to Buy Not Build an OMS?
(Global banks and other sell-side firms face “a technological fork in the road” when it comes to order management systems (OMSes), according to a recent report, “The Future State of Global OMS,” from market research firm Datos Insights. “Sell-side firms … will need to reevaluate the value proposition of their existing OMS architecture and determine… Read More >>
Davy Capital Markets Deploys Torstone Platform
Dublin-based brokerage Davy Capital Markets has gone live with the Torstone Post Trade Platform for middle- and back-office processing to bolster the Davy Group division’s operational efficiency and regulatory compliance, officials say. The Software as a Service (SaaS) platform is from Torstone Technology, a post-trade securities and derivatives processing provider, based in London. “This successful… Read More >>
Ops Woes & Revenues Surge for Securities Lending
A key report finds that securities lending revenues surged last year and so did operational workloads, which makes the case for more automated reconciliation systems that process transactions in real-time, industry expert Roy Zimmerhansl tells FTF News. In 2023, the global securities finance industry set a record with $10.7 billion in revenue for lenders, according to… Read More >>
MSCI Buys Fabric to Build Wealth Management Platform
MSCI will be building a new wealth management platform by integrating its portfolio toolkit with the portfolio design, customization, and analytics offerings of Fabric — which serves wealth managers and advisors — as the result of their recently completed merger, officials say. Known for its investment decision support tools and services, MSCI announced the acquisition… Read More >>
How to Survive the Recordkeeping Crackdown
The Securities and Exchange Commission’s (SEC) December 2021 announcement that J.P. Morgan Securities LLC had been fined $125 million for allegedly violating the agency’s recordkeeping rules amounted to a shot heard up and down Wall Street. The market regulator made clear that it took breaches of recordkeeping regulations seriously, and that the J.P. Morgan penalty… Read More >>
