The Commodity Futures Trading Commission (CFTC) reports that it recently rewarded an insider whistleblower with more than $8 million for providing “significant information and assistance that led the CFTC and other agencies to bring multiple enforcement actions.” In fact, the whistleblower “helped the CFTC establish that one or more derivatives market participants deceived clients about… Read More >>
T+1: No Victory Until Affirmations Reach 100%
As many teams in North America canceled their weekly T+1 transition meetings, Securities and Exchange Commission Chair Gary Gensler has called on the U.K. to trigger its own implementation. Top of the list of lessons to learn from North America’s transition, Gensler said, is setting a date. “Until you do that, it is a lot… Read More >>
GBST & Wipro Take On Legacy IT via Partnership
GBST and global outsourcer Wipro Ltd. have signed a partnership to help firms move off legacy investment IT and ops platforms and possibly toward artificial intelligence (A.I.) technologies, officials say. The deal unites GBST’s scalable wealth management administration platform with Wipro’s IT, business processing, and back-office outsourcing services. The arrangement will consolidate administrative services “through… Read More >>
Tokenized Securities Offer Many Ops Benefits
(The digital overhaul for securities trading and operations is moving quickly to the next chapter facilitated by blockchains, cryptocurrencies, tokenization, and more. To help those working in traditional securities operations, FTF News reached out to Thomas Sullivan, managing director-head of business development for digital assets at Societe Generale. Sullivan agreed to provide explanations on the… Read More >>
LTX Uses GPT for List Trading Function
LTX, a corporate bond trading platform from Broadridge Financial Solutions, has a GenAI-based list trading function that will allow end-users to leverage Generative Pre-training Transformer (GPT) technology to “generate and execute multi-asset class, multi-directional trade lists” via RFQ+, officials say. “In response to clients’ positive engagement with our GenAI-powered app BondGPT and their request for… Read More >>
M&G Investments Picks Clearwater Analytics
London-based M&G Investments, an international asset manager and part of M&G plc has tapped Clearwater Analytics for its software-as-a-service (SaaS) investment accounting solution for investment accounting and reporting, officials say. The Clearwater Analytics offerings encompass investment management, accounting, reporting, and analytics solutions. “The Clearwater platform will automate investment management and regulatory reporting and support the… Read More >>
Chatbots Are On FINRA’s Compliance Radar
(Applications and systems that use artificial intelligence (A.I.) technologies such as chatbots are on the radar of the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization for U.S. broker-dealers. The regulator has issued guidances, updates, and alerts about the subject noting the “benefits for investors include enhanced access to customized products and services, lower costs,… Read More >>
Yext Acquires Hearsay Systems for $125M
Yext, Inc., a digital presence company, is acquiring Hearsay Systems, a compliance provider for digital communications, for $125 million and will add Hearsay’s offerings to its own, officials say. Yext will also augment the combined offerings with artificial intelligence (A.I.) technologies, officials add. Yext applies A.I. and machine learning technologies to customer engagement, automated workflows… Read More >>
FTF Reveals the Winners of the 2024 FTF Awards
Financial Technologies Forum (FTF) proudly announces the 2024 FTF News Technology Innovation Awards competition winners. The awards effort shines the spotlight on the winners of the FTF Awards competition — now in its 13th year — for their accomplishments in 2023 and on individuals who have made great contributions to their profession and those who… Read More >>
IPC & VoxSmart Partner to Improve Transcriptions
IPC Systems, a trading communication and multi-cloud connectivity provider, is collaborating with VoxSmart, a communications surveillance company, to improve multilingual transcription technology for financial services firms, officials say. The collaboration will involve artificial intelligence (AI) technology and “real-life conversations had by capital markets professionals,” officials say. The partnership is intended to yield “a 50-fold increase… Read More >>
