Neuberger Berman to Use Velocity for EMIR Reconciliation Neuberger Berman, a New York-based, private, employee-owned investment management firm, will be using a platform from cloud-based reconciliation software vendor Fund Recs for trade reconciliation via the European Market Infrastructure Regulation (EMIR) guidelines. The firm, which oversees $418 billion in client assets, will use the Fund… Read More >>
BNY Mellon & Baton Bring DLT to Collateral & Other News
BNY Mellon & Baton Systems Form Partnership Distributed ledger technology (DLT) is at the heart of a new post-trade, collateral management collaboration between BNY Mellon and Baton Systems. The joint offering links Baton’s central clearing counterparty (CCP) network with BNY Mellon’s Enterprise Continuous Portfolio Optimization (ECPO) service in an effort to help mutual clients improve… Read More >>
SWIFT & GLEIF Build MIC-to-LEI Bridge & Other News
GLEIF Launches Open Source MIC-to-LEI Mapping SWIFT, the global financial messaging services and systems cooperative, and the Global Legal Entity Identifier Foundation (GLEIF) are cooperating to offer financial services firms a new, free way to gather, aggregate, and reconcile counterparty information via a new interoperability across parallel identity platforms, officials say. GLEIF reports that it… Read More >>
Murex’s MX.3 Links to ICE Data & Other News
Murex Integrates Offerings from ICE Data Services Murex, a trading, risk management, and processing solutions vendor, reports that it has created a more efficient way for its MX.3 platform to access fixed income and derivatives data offerings from ICE Data Services, part of the Intercontinental Exchange (ICE). The MX.3 platform supports trading, treasury, risk and post-trade operations…. Read More >>
UMR May End DerivOps As We Know It
If your firm has not yet met the September 1 deadline for Phase 6 of the ongoing saga of the Uncleared Margin Rules (UMR), you are probably not reading this blog posting. You will be up to your ears in a gargantuan effort to meet the deadline or to find a legal way to sidestep… Read More >>
Two Ex-JPMorgan Traders Convicted for Market Manipulation
A federal jury in the Northern District of Illinois recently found two former precious metals traders at JPMorgan Chase & Co., guilty of fraud, attempted price manipulation, and spoofing via a precious metals futures contracts scheme that occurred over an eight-year period and encompassed “thousands of unlawful trading sequences,” authorities say. The two, now-convicted, ex-traders… Read More >>
U.K. Bank to Create 350 U.S. Jobs & Other News
Bank of London Expands in North Carolina The Bank of London, a global clearing, agency, and transaction bank, reports that it will “expand its United States footprint by opening its U.S. Global Platform and Services headquarters in Charlotte, North Carolina,” in a move that will create 350 jobs in multiple disciplines by 2026. “New positions… Read More >>
What Does a Post-UMR World Look Like?
(FTF News recently spoke with Chris Walsh, the CEO of Acadia, about the world of derivatives trading after the Uncleared Margin Rules (UMR) reforms take hold — the UMR Phase 6 deadline is September 1, 2022. An industry veteran, Walsh held key roles at NYSE Technologies, NYFIX, and Thomson Financial before Acadia, which was once… Read More >>
Schroders Embraces Blockchain & Other News Briefs
Schroders Takes Minority Stake in Forteus Invesment management giant Schroders is investing in Forteus, an asset manager with a focus on blockchain technology and digital assets. Schroders officials say that they will develop next-generation investment solutions via the new arrangement. Forteus is the asset management arm of the Numeus Group, a diversified digital asset… Read More >>
JPMorgan Pays $850K to Resolve FX Swaps Case
JPMorgan has reached a $850,000 settlement with the CFTC in a case involving charges that three of the investment bank’s units failed to comply with their reporting obligations as swap dealers. The CFTC order also requires JPMorgan and its swap-dealing entities to cease and desist from further violations of the Commodity Exchange Act (CEA) and… Read More >>
