DTCC ALERT Also Has an SSI Milestone Post-trade market infrastructure provider DTCC has launched a suite of application programming interfaces (APIs) and hit a milestone with its ALERT online global database for standing settlement instructions (SSIs), officials say. The ALERT API suite offers “an alternate way to request and receive SSI and market availability… Read More >>
Citi & FINOS Push for ‘Common Cloud Controls’
Financial services giant Citi and the Fintech Open Source Foundation (FINOS) are launching an open standard project that will formulate “consistent controls” for cloud computing cybersecurity, resiliency, and compliance that cloud service providers (CSPs) can use as the basis for a common set of services. The “Common Cloud Controls (CCC)” push is intended to bring… Read More >>
Cloud-Native Apps Are Better: Q&A with CompatibL
(Over the past two years, securities firms have begun to embrace the next chapter of cloud computing — cloud-native systems that exploit services and pipelines. This is essential for firms that want to reap the full benefits of the cloud, says Olga Orekhvo, chief operating officer (COO) at CompatibL Technologies. FTF News recently got time… Read More >>
Clearing Is Broken: Q&A with RQD*’s CEO
(Consolidation across the clearing sector has resulted in less competition, fewer options for securities firms, and a broken system, says Michael Sanocki, CEO of RQD* Clearing, a new correspondent clearing provider. Thus RQD’s mission is to reach out to firms that are “sorely underserved” and “ripe for disruption.” RQD, which officially launched last month, offers… Read More >>
Remote Staffing Boosts Cloud’s Appeal: Q&A
(Cloud computing got a major boost during the pandemic when most staff members at financial services firms were compelled to work remotely, says Olga Orekhvo, chief operating officer (COO) at CompatibL Technologies. In fact, many financial services firms have embraced more than one cloud provider, which presents a new set of challenges. Orekhvo joined CompatibL… Read More >>
AWS Outage Halted FINRA Systems on Dec. 7
Key online systems of the Financial Industry Regulatory Authority (FINRA) were unavailable on Tuesday, Dec. 7, because of an outage at cloud computing provider Amazon Web Services (AWS) that lasted about seven hours, according to alerts from the self-regulatory organization and Amazon. AWS has become a major cloud provider for financial services firms, particularly those… Read More >>
COVID-19 Put Cloud’s Value to the Test: Q&A
(Editor’s Note: Financial services firms that were sitting on the fence about cloud computing are changing their minds as they look to the post-pandemic world. So says Julian Trostinsky, vice president, strategy and solutions engineering at Duco Technology, which offers cloud-based, data and post-trade reconciliation systems. Trostinsky has more than two decades of experience helping… Read More >>
Hedge Funds Tested by Remote IT Management: Q&A
(The economic disruptions and lockdowns caused by the COVID-19 pandemic have compelled the staffs of financial services firms, including hedge funds, to work remotely, mostly from home. In particular, this unique set of circumstances has created IT management challenges for hedge funds coping with the pandemic emergency. FTF News recently had the chance to discuss… Read More >>
Deutsche Bank Sends Collateral Management to the Cloud
In what appears to be a first for a Tier 1 bank, Deutsche Bank is moving its management of margin calls with counterparties to a public cloud-based service as part of an effort to cut costs and operational risk while simplifying a key process. The German banking giant will be revamping this “critical piece of… Read More >>
AI & ML Will Jolt Back Offices: Report
While there has been a lot of hype over disruptive technologies and trends, artificial intelligence (AI) and machine learning (ML) could have the biggest impacts upon securities operations, according to a survey of asset managers, conducted by vendor Eagle Investment Systems and the Hegarty Group, a market research firm. The report’s authors acknowledge that while… Read More >>
