SWIFT is warming up to the concept of being able to transfer tokenized assets from its infrastructure to multiple public and private blockchains. This follows the positive results that the global financial messaging cooperative experienced after conducting a series of experiments that tested the SWIFT infrastructure via the transfer of tokenized assets, according to an… Read More >>
CME & DTCC Ready Cross-Margining Offering & Other News
SEC & CFTC Approve Joint Effort for Treasuries & Futures The SEC and CFTC have approved a new cross-margining arrangement between CME Group and the DTCC that will “permit eligible clearing members of CME and the Government Securities Division (GSD) of DTCC’s Fixed Income Clearing Corp. (FICC) to cross-margin an expanded suite of products,”… Read More >>
FBI, FINRA Alert Firms About Email Cyberattacks
A recent alert from the U.S. Federal Bureau of Investigation (FBI) warns financial services firms using Barracuda Email Security Gateway (ESG) Appliances, even those with “up-to-date security patches,” that they “remain at risk for continued computer network compromise from threat actors exploiting a zero-day vulnerability.” The FBI’s alert also referred to “suspected PRC Cyber Actors,”… Read More >>
ISDA Docs Expert Launches Online Course & Other News
Course Targets Firms that Use ISDA Master Agreements Edyta Knizewska, a derivatives documentation expert, reports that she is offering an online course about “understanding and negotiating ISDA Master Agreements.” The master agreements “govern over-the-counter derivatives transactions,” and Knizewska, a legal consultant, negotiator and derivatives lawyer wants to offer her experience through her ISDA Lab course…. Read More >>
T+1 Will Overhaul Securities Lending: Report
A new report from Citi — “Securities Services Evolution 2023” — argues that the move to shorter, T+1 settlement will leave no one in securities operations untouched. However, the report strongly argues that securities lending is in for a rollercoaster ride as securities firms move to T+1. Firms and other market participants will need to… Read More >>
Market Data Budgets to Rise by 10%: Report
Asset managers, wealth management firms, banks, and broker-dealers across the world are likely to boost their market data budgets by 10 percent or more next year in “priority areas including equities, fixed income, and alternative data, and by at least 5 percent across other asset classes,” according to a study from market research firm Coalition… Read More >>
SimCorp & EDI Team Up on Corporate Actions & Other News
Duo to offer ISO 15022 Corporate Actions Data Exchange Data International (EDI), a financial and economic data provider, and SimCorp, an investment management solutions provider, have agreed to combine efforts to offer corporate actions data to their clients, officials say. “The integration of EDI’s Worldwide Corporate Actions Service within SimCorp’s integrated front-to-back investment management platform… Read More >>
Common Cloud Controls Will Expand Capabilities: FINOS
(The Fintech Open Source Foundation (FINOS) and financial services giant Citi recently announced that they launched 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)” effort is… Read More >>
Goldman Sachs Reportedly Hiring for Ops & Other News
Fed Concerns May Be Spurring Hiring Spree Goldman Sachs Group has reportedly been on a hiring spree for back-office operations and its compliance department positions as a result of supervisory issues raised by Federal Reserve officials, according to multiple media reports, including those from Bloomberg and Reuters. The Bloomberg report noted that the firm intends… Read More >>
Instinet Fined $3.8M for Alleged CAT Reporting Failures
Instinet has paid a $3.8 million fine to the Financial Industry Regulatory Authority (FINRA) and settled allegations that the institutional broker failed to fulfill its reporting obligation “timely and accurately” to the Consolidated Audit Trail (CAT) system from June 2020 to the present, according to the self-regulatory organization (SRO). The ambitious, big data, securities transaction… Read More >>
