(State Street Alpha is a front-to-back office asset servicing platform that the global custodian bank is offering to investment managers, hedge funds, asset owners, and insurers. The front- and middle-office components of Alpha are from the Charles River Investment Management Solution (IMS) platform, a result of State Street Corp.’s $2.6 billion acquisition of Charles River… Read More >>
Roley Leaves SS&C Advent for Post at TPG
Robert Roley has left systems and services vendor SS&C Technologies to take a position at private equity firm TPG, and SS&C has named two co-heads to replace him at the SS&C Advent division. “After 18+ years as a technology operator with Advent Software and SS&C, I joined TPG Capital’s software and enterprise technology team to… Read More >>
Blockchain Successor to CHESS to Launch in 2022
Pandemic Delays Launch of New ASX System The Australian Stock Exchange (ASX) has set its new go-live date of April 2022 for the blockchain-based system that will replace its incumbent clearing and settlement, the Clearing House Electronic Subregister System (CHESS), officials say. The new launch date is 12 months beyond the original launch date, which… Read More >>
IPC Collaborates with Digital Reasoning & OpenFin
IPC, a trading communication and networking solutions vendor, is working with two cutting-edge technology providers — Digital Reasoning and OpenFin — in an effort to help financial services firms take steps to update legacy IT infrastructures and improve their productivity. The latest collaboration is with Digital Reasoning, an artificial intelligence (A.I.) solutions provider. The new… Read More >>
Goldman Sachs Joins Swaps Settlement Service
Settlement Service Run by CLS & IHS Markit Investment banking giant Goldman Sachs has joined a cross-currency swaps settlement service developed by financial data and systems vendor IHS Markit and a firm specializing in settlement CLS, officials report. With its latest member, the payment-versus-payment (PvP) settlement service has eight settlement members “live on the service,… Read More >>
Task Force Takes On Global Post-Trade Woes
The Bank of England is setting up a task force to implement the recommendations of a special panel that focused last year on the $20 billion spent annually on a “patchwork of manual or outdated technological processes” that support post-trade operations at firms across the globe. The Post‑Trade Technology Market Practitioner Panel of the U.K.’s… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
ISITC’s Workaround for SWIFT & Negative Trading Prices
The Derivatives Working Group of ISITC, a securities industry standards group, is helping to spotlight a problem that has gotten lost in the shuffle of a pandemic and sudden recession. Essentially, how do users of the SWIFT financial messaging network process negative trading prices on commodity futures? “The effort was spurred by recent market event… Read More >>
DTCC Tests DLT’s Usage for Post-Trade Ops
Post-trade infrastructure provider the Depository Trust & Clearing Corp. has launched two experiments — dubbed Project Ion and Project Whitney — that are collaborative industry efforts to investigate how distributed ledger technology (DLT) might strengthen post-trade processes such as the elimination of manual processes in the private markets, and new securities settlement via public markets,… Read More >>
Northern Trust’s Client Portal Gets a Cloud Makeover
Online Report Center Will Become a Cloud Service Northern Trust is relaunching a client-facing portal, the Online Report Center, as a cloud-based service with a redesigned user interface, officials say. The revamped service “is currently in its beta phase with a select group of clients. The full release for all clients will be available later… Read More >>
