The pandemic-induced lockdown has challenged all of us to alter our plans and create new ways of doing business. For FTF, we are evolving and inventing new ways to serve and grow our network of securities professionals that we have developed over the past 14 years. The good news is that we are trying something… Read More >>
Morgan Stanley Buys Eaton Vance & E*TRADE
Amid a lot of conflicting news stories, Morgan Stanley recently announced that it wants to acquire the wealth and investment management firm, Eaton Vance Corp., and that it closed its acquisition of online, discount brokerage E*TRADE Financial Corp. — signs that Morgan Stanley and other Wall Street giants are trending toward safer waters than the… Read More >>
Electra Targets Manual Woes in Client Fee Billing
Electra Billing 6.0 Launches Electra Information Systems, a provider of reconciliation and other post-trade processes for the buy side, has launched Electra Billing 6.0, a system for audit and workflow control, designed for client-fee billing. Electra Billing 6.0 is intended to “reduce risk by increasing the accuracy and efficiency of approval workflows throughout vital… Read More >>
EBS’s EMS to Link to IHS Markit’s thinkFolio
EBSI Connectivity Slated for Q4 EBS, a provider of electronic trading platforms and IT for foreign exchange markets, will be offering connectivity between the EBS Institutional (EBSI) execution management system (EMS) and thinkFolio, a multi-asset investment management platform from vendor IHS Markit, vendor officials say. The new service is slated to be available during the… Read More >>
Citi, JPMorgan & State Street Invest $11M in Capitolis
Capitolis to Speed Up Product Development Citi, JPMorgan, and State Street have invested a total of $11 million in fintech startup Capitolis, whose proprietary technology platform helps trading firms streamline their trading-position strategies. A spokesperson for Capitolis confirms media reports that the funding from the trio is $11 million in total. The spokesperson declines to… Read More >>
Supervisory Failures Alleged in Wells Fargo Annuity Switches
The Financial Industry Regulatory Authority reports that Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, two units of the San Francisco-based, multinational financial services company, will pay more than $2 million on charges of “supervisory violations related to variable annuity switches.” The Wells Fargo units will pay an additional $1.4 million… Read More >>
Gresham Taps Duco for Top European Sales Post
Vincent Him Joins Gresham London-based reconciliation vendor Gresham Technologies has tapped competitor SmartStream Technologies to fill a senior European sales position, underscoring its international growth efforts, officials say. Gresham has hired Vincent Him to be sales director for Europe, and he has nearly 25 years of experience across the post-trade reconciliations industry. In addition to… Read More >>
Ops Spends Too Much Time On Exceptions: Q&A
(Todd Sloan, business development, senior vice president, Electra Information Systems, took time out of his schedule to give FTF News a progress report on Electra Information Systems. The provider of reconciliation and other post-trade solutions, Electra is the winner of the 2020 FTF News Technology Innovation award for “Best Reconciliation Solution” for the fifth consecutive… Read More >>
RJO Expands MENA Presence via Acquisition
RJO Acquires Lombard Forte Securities R.J. O’Brien & Associates, a Chicago-based futures brokerage and clearing firm, is expanding its presence in the Middle East via its acquisition of Lombard Forte Securities Ltd. (LFS), a Dubai-based interdealer broker (IDB). RJO, which acquired LFS through its affiliate RJO MENA [Middle East & North Africa] in Dubai, is… Read More >>
Gresham Buys Inforalgo to Bolster Regulatory Reporting
Gresham to Integrate Inforalgo with Clareti Reconciliations vendor Gresham Technologies has acquired pre- and post-trade data management specialist Inforalgo Information Technology Ltd. in an effort to to expand Gresham’s regulatory reporting capabilities, officials say. Inforalgo reports that it offers cloud-based, straight through processing (STP) solutions and automation technologies that help financial institutions with complex real-time connectivity… Read More >>
