Front-office financial technology vendors are moving quickly to expand their reach into the middle and back office while traditional portfolio accounting systems providers are moving upstream into the middle office in attempts to provide a fuller suite of asset management operational services, according to a new report from market research firm Celent, a division of… Read More >>
Bloomberg STP and Traiana to Tackle FX Options
Bloomberg STP Solutions, the post-trade arm of the market data and news giant, reports that it is joining forces with Traiana, a vendor of pre- and post-trade solutions, to automate many of the now-manual processes that form the workflow of foreign exchange (FX) options. Essentially, the solution to come will link Traiana’s Harmony messaging network… Read More >>
Bloomberg Terminals Suffer Global Outage
Bloomberg terminals experienced a mass outage this morning, leaving traders in the dark for roughly four hours and causing the U.K. to cancel a multi-billion government debt buyback, according to media reports. The outage began shortly after European markets opened, and service was restored about four hours later. Bloomberg officials say they were able to determine… Read More >>
SimCorp Hires from Bloomberg for HR Head
FinTech vendor SimCorp has appointed Victoria Turk as head of human resources for SimCorp North America, officials say. In her new role, Turk will spearhead “all aspects of HR processes for SimCorp,” according to a company statement, including partnering with the business, mobility, organizational design, sourcing, recruitment, performance management, compensation and benefits. “Victoria brings a… Read More >>
Bloomberg Helps Retrace the Path of a Swap Transaction
In the wake of the Great Recession, securities firms in the financial services industry have for years found themselves in a neck-and-neck race with regulatory reforms, struggling to make the changes necessary for compliance even as new measures continue to come online. While this scenario has been a nightmare for most firms, it’s been a… Read More >>
SEFs Exchange Fire at SEFCON V
The claws came out at Wednesday’s SEFCON V conference as panelists representing swap execution facilities (SEFs) run by Bloomberg and UBS exchanged a series of playful jabs at one another, underscoring the rough-and-tumble reality of intense competition in a market that’s just getting off the ground. Responding to a question about the merits of the… Read More >>
FTF Panel: U.S. Markets Should Move to T+0
A panelist at FTF’s ReCon New York event on Thursday is calling for the U.S. securities industry to move to a T+0 settlement cycle rather than the incremental move to T+2, citing the truism that nothing good happens between trade date and settlement. That’s a phrase heard often from operations managers, and it was heard… Read More >>
ITRS’s Geneos Compatible with B-PIPE
Financial technology provider ITRS Group has made Geneos, its IT performance management solution, compatible with B-PIPE, Bloomberg’s real-time market data feed, according to a company statement. Geneos provides an interface that will allow for advanced monitoring of the data sent through B-PIPE, a normalized and consolidated real-time market data feed for the enterprise. B-PIPE provides… Read More >>
Watchdogs: Wayward Firms to Face More Record Fines
After a year of record-breaking fines that has left financial services firms reeling and their investors anxious about what the future may hold, regulators and prosecutors alike say wayward firms can expect more of the same – and worse – going forward. “The next time one of these institutions engages in misconduct, I think they… Read More >>
Bloomberg Acquires RTS
Bloomberg has acquired RTS Realtime Systems, a provider of low-latency connectivity and trading support services, bringing RTS’s infrastructure, software and personnel into the fold, according to a company statement. RTS provides market connectivity and trading tools for equities, futures, options, FX and fixed income trading, according to the statement. “RTS’s strength in market connectivity is… Read More >>
