It’s been a dynamic year when straight through processing (STP) and the push for T+2 settlement cycles made big comebacks while disturbing layoffs and ongoing fines and penalties appeared to be on the rise. We at FTF News have compiled the following list of the top Ops stories, trends, new currents and online video coverage… Read More >>
Two Guidances and a Farewell to 2014
Much needs to be tied up at the end of the year but unfortunately time speeds up. So before this interesting year wraps, I’d like to shine the spotlight on two guidances — a brand new one from the CFTC and an older one from the New York state government that got little coverage the… Read More >>
RBC to Pay $35M Penalty for Wash-Trading Scheme
A U.S. federal court on Thursday penalized the Royal Bank of Canada (RBC) $35 million for engaging in more than 1,000 illegal wash sales, fictitious sales and noncompetitive transactions over a three-year period, officials say. The order entered by the court arose from a complaint filed by the CFTC in 2012, charging RBC with several… Read More >>
SEC Names Deputy Directors for Trading Division
The SEC has filled two deputy director posts in the Division of Trading and Markets: Gary Barnett and Gary Goldsholle, officials say. Barnett and Goldsholle succeed former deputy directors James Burns and John Ramsay, who left the agency earlier this year. Barnett will be responsible for the office of broker-dealer finances, and the office of… Read More >>
CFTC Loses DSIO Director to SEC
CFTC officials report that Gary Barnett, director of the regulator’s division of swap dealer and intermediary oversight (DSIO), will depart the agency in January to take a senior position at the SEC. Tom Smith, currently deputy director for DSIO’s capital, margin and segregation branch (CMS), will become the DSIO interim director. Barnett joined the CFTC… Read More >>
Advent Upgrades Products via Partners, User Input
Investment management systems and services vendor Advent Software has updated key offerings of its product suite, providing integration with other vendors’ offerings and incorporating ideas and even software from its user community, reports Robert Roley, vice president, solutions for Advent. The integration with other third-party vendors helps Advent provide more complete solutions that are implemented… Read More >>
Euronext Taps Cinnober for Trade Validation & Confirmation
Cinnober Financial Technology reports the signing of an order with Euronext, the European exchange group, for a trade validation and confirmation solution that will run on its Tradexpress trading platform and be adapted to Euronext’s specific requirements. The planned service is expected to launch with equity derivatives in the spring of 2015, according to a… Read More >>
Eurex Licenses GMEX’s CMF for Trading & Clearing
Global Markets Exchange Group, a wholly owned subsidiary of Global Markets Exchange Group International (GMEX), and Eurex, an international derivatives exchange market, report reaching a license agreement, under which Eurex will license GMEX’s Euro-denominated constant maturity future (CMF) for trading, via Eurex’s multilateral trade registration (MTR) service, and clearing on Eurex Clearing. In addition, “GMEX… Read More >>
Elizabeth Warren Attacks Dodd-Frank Section Repeal
U.S. Sen. Elizabeth Warren launched an attack on a provision in the omnibus, $1.1 trillion spending bill of Congress that would prevent Section 716 of the Dodd-Frank Act from ending federal government bailouts for financial services firms engaged in risky swap derivatives. Despite Warren’s call for the House of Representatives to pull the repeal, the… Read More >>
Q&A: Settling Margin Calls Without ‘A Single Human Touch’
Broadridge Financial Solutions is bolstering its CollateralPro solution via a new partnership with AcadiaSoft, a provider of the MarginSphere margin call confirmation technology for collateral management. Jerry Friedhoff, managing director of securities financing and collateral management at Broadridge, took time out of his schedule to answer FTF News’ questions about the agreement that integrates MarginSphere… Read More >>
