DTCC, CME Need Regulators to Allow Cross-Margining Expansion Post-trade infrastructure system and services provider DTCC and derivatives exchanges company CME Group report that they would like to improve their cross-margining arrangement so that clearing members of CME and the Government Securities Division of DTCC’s Fixed Income Clearing Corp. (FICC) can trade and clear U.S. Treasury… Read More >>
Can APIs Ease Prime Brokerage Friction?
(Prerak Sanghvi and his New York City-based employer Clear Street, which describes itself as “an independent, non-bank prime broker” are on a mission. They want to help the capital markets industry move beyond mainframe-based, legacy infrastructures and onto Clear Street’s cloud-native clearing and custody system. Getting there will require application programming interfaces (APIs), which are links… Read More >>
Crystal Capital Partners to Deploy SS&C Systems & Other News
Crystal Capital to Bolster Ops via SS&C Systems Crystal Capital Partners, an alternative investment platform provider, reports that it has selected the Geneva and Advent systems from SS&C Technologies to “streamline portfolio management and reporting across more than 500 customized portfolios and support further growth,” officials say. “Our integration with SS&C will help streamline the… Read More >>
Acadia Launches an IM Recalibration Tool & Other News
Acadia Solution Compares ISDA SIMM Versions Acadia, a maker of risk mitigation services for derivatives trading, has launched a web-based offering, dubbed IM Recalibration Analytics (IMRA), that is intended to help firms assess the impact of the new ISDA Standard Initial Margin Model (ISDA SIMM), a methodology that helps securities firms calculate initial margin for… Read More >>
Nasdaq Buys Adenza for $10.5 Billion
Nasdaq, known for its exchanges, will be securing its goal of becoming mostly a solutions provider with its just announced definitive $10.5 billion agreement to acquire Adenza — which is a combination of Calypso and AxiomSL — from private equity firm Thoma Bravo. Once authorities approve the $10.5 billion price tag, which consists of cash… Read More >>
DLT-Based Ops Will Need Guardrails: Report
As more securities operations use distributed ledger technology (DLT), policymakers, regulators, and market participants need to identify regulation, supervision, and risk management practices that “support appropriate stability and protections for all industry stakeholders,” according to a new report, “The Impact of Distributed Ledger Technology in Global Capital Markets.” The report is the result of a… Read More >>
NFA Adopts Rule Governing Digital Asset Commodities
The National Futures Association (NFA), a self-regulatory organization, is focusing its regulatory authority on digital asset commodity activities by adopting rules that set “anti-fraud, just and equitable principles of trade, and supervision requirements” for members and associates of the NFA. The scope of the newly adopted NFA Compliance Rule 2-51 “is currently limited to Bitcoin… Read More >>
Voting Begins in the FTF Awards Competition!
We are pleased to announce that voting has begun for the nominees of the FTF News Technology Innovation Awards 2023, a competition overseen by Financial Technologies Forum (FTF) and the news service. Industry participants pick the winners. Voting began on March 20 when we officially unveiled the nominees and will end on April 28. We… Read More >>
CFTC Picks a New IT Infrastructure Contractor
The Commodity Futures Trading Commission (CFTC) reports that it has transitioned core IT infrastructure and operations support services to GovCIO, an IT and digital solutions provider to the federal government, replacing General Dynamics IT (GDIT), which had been serving the regulator since 2015. The CFTC’s $139 million, 10-year contract with GovCIO is not an outsourcing… Read More >>
Nominations Are Open for the 2023 FTF Awards!
We are thrilled to launch the nomination process for the 2023 FTF News Technology Innovation Awards — an industry-wide competition now in its 13th year — presented by Financial Technologies Forum (FTF) and the FTF News service. In addition to our classic securities operations and related categories, we have four new categories that reflect industry… Read More >>
