Officials at custodian bank Northern Trust report that the firm has been awarded two U.S. patents for inventions based upon distributed ledger technology (DLT) that are intended to provide “the efficient, secure and transparent management of lifecycle events within private equity fund administration,” officials say. The patents are a key aspect of the firm’s push… Read More >>
GMEX and DAG Create JV Bridge to Disruptive IT
GMEX Group (GMEX) and the Digital Asset Group (DAG) are forming a joint venture (JV) intended to create a bridge between disruptive technologies such as blockchain/distributed ledgers and artificial intelligence (AI) and the practices of regulated banking, finance and trading exchanges. DAG and GMEX via their joint venture will develop “high impact blockchain and crypto… Read More >>
Pushing for Post-Trade Reforms Across Europe
This is the season for pollen, Spring holidays and roadmaps from key industry players. Often the new roadmaps mean that some may no longer be on the journey. However, in this case, the Association for Financial Markets in Europe (AFME), a trade group for Europe’s wholesale financial markets, is pushing for a roadmap that will… Read More >>
JPMorgan Explores New Blockchain for Debt Issuance
JPMorgan Tests Involve National Bank of Canada JPMorgan tested “a new blockchain platform” for debt issuance with the National Bank of Canada and other large financial services firms, officials announced on April 20. JPMorgan is “is seeking to streamline origination, settlement, interest rate payments and other processes,” according to an official statement. For the test,… Read More >>
Ex-CFTC Commissioner Calls for Crypto Exchange Regulation
Former CFTC Commissioner Bart Chilton says that he is excited by the emergence of digital currencies – he’s even backed one – but he strongly favors regulation to avoid a crypto catastrophe. Chilton spoke earlier this week at FTF’s derivatives processing conference, DerivOps North America, held in Chicago. In a speech at the conference and… Read More >>
ACA Compliance Group to Acquire Cordium
Acquisition to Expand ACA’s Services in Europe ACA Compliance Group reports that it will acquire Cordium, a provider of governance, risk and compliance (GRC) services. ACA, a provider of risk management and technology solutions that focus on regulatory compliance, performance, financial crime, and cybersecurity, expects the transaction to close this summer, subject to regulatory approvals…. Read More >>
Change Management Can Help Uproot Manual Systems
(Cheryl Nash, president of Fiserv Investment Services, gave the closing keynote address last month at the ISITC 24th Annual Securities Operations Summit, and her talk focused on the inevitability of change. Nash has been serving in her current post for more than six years, and her expertise includes the development of “multiple strategy portfolios, known… Read More >>
Major Ops Industry Players Put Blockchain to the Test
The raging romance between financial services firms and blockchain technologies is heading toward a new phase where projects, tests and proof-of-concept efforts are beginning to yield results that will help industry players revamp or even replace key securities operations. Over the last few weeks, the signs have been encouraging: Deutsche Börse Group and HQLAX have… Read More >>
Vanguard Applies Blockchain to Index Data Sharing Woes
Giant money manager Vanguard is using blockchain/distributed ledger technology (DLT) to minimize the risk and data mismatches that can sometimes complicate index data sharing processes. Vanguard is not working alone but via partnerships with the Center for Research in Security Prices (CRSP), a provider of historical databases, and vendor Symbiont, maker of smart contracts based… Read More >>
Gemini Founders Want SRO for Crypto Markets
The founders of a cutting-edge digital asset exchange company, Gemini Trust Company, LLC, are arguing for a self-regulatory organization (SRO) that would govern transactions based upon emerging cryptocurrencies, and the effort has gotten the attention of the CFTC. Cameron Winklevoss, co-founder and president at Gemini, and his twin brother Tyler launched Gemini “a licensed digital… Read More >>
