London-based data vendor Exchange Data International (EDI) is launching what its founder calls “a complete replacement service” for the corporate actions data services from NYSE and other major exchanges that will be priced at less than half of the redistribution costs charged by exchanges companies. “EDI has a policy of not kowtowing to egregious exchange… Read More >>
FTF Awards Q&A: Time to Get on the Ops Utility Bus?
(Editor’s note: FTF News recently got time with Gerard Bermingham, executive director of business development at IHS Markit/Information Mosaic and Ellen Schubert, CEO of IHS Markit KY3P, a subsidiary of IHS Markit. The discussion covered industry trends and milestones that helped IHS Market win the Best Corporate Actions Processing Solution and Best Operational Risk Management… Read More >>
Loomis, Sayles Deploys Trader-to-Ops Corporate Actions
Investment manager Loomis, Sayles & Co. has begun implementing vendor T-Scape’s corporate action application iActs and is creating a more direct line between the front office and operations to improve processing. The implementation, following a pilot test, will give approximately 70 portfolio managers, portfolio specialists and traders “direct access to iActs, enabling them to view… Read More >>
Glitch Halts ETP Trading for NYSE Arca
ETP Transactions Impacted by NYSE Arca Halt Exchange-traded product transactions via NYSE Arca were halted for 15 minutes on the morning of Monday, Dec. 19, because of a complication caused by a software upgrade, according to New York Stock Exchange officials. “We identified an issue on NYSE Arca Equities (our electronic market for ETPs [including… Read More >>
New SmartStream RDU CEO to Push Ops Utility
SmartStream has found a true believer in the industry utility concept and has made industry veteran Peter Moss the next CEO of the SmartStream Reference Data Utility (RDU). The RDU is a managed service that delivers reference data for regulatory reporting, trade processing and risk management operations in a supposedly more cost-effective utility approach, officials… Read More >>
CFTC Gives Compliance Officers More Time to File Annual Reports
Chief compliance officers at futures commission merchants (FCMs), swap dealers, and major swap participants may have more time to file annual reports because of amendments that the CFTC is proposing for a key regulation. CFTC officials announced on August 9 that it will be publishing in the Federal Register proposed amendments to CFTC regulation 3.3… Read More >>
SWIFT Survey Finds Jump in Corporate Actions Projects
A joint survey of 117 organizations conducted by financial messaging cooperative SWIFT and specialist consultancy CityIQ finds that the investment in automation tools for corporate actions processing has grown since the last survey in 2012 because firms have to cope with increases in volume and client demands, and need to cut costs while improving the… Read More >>
Tighter Budgets Make Trading Ops Utility Model More Attractive
Cost-cutting and the crush of regulatory compliance are making a utility model for processing and sharing the costs of trade operations, including core post-trade systems, more likely, according to a new study from by Broadridge Financial Solutions. The utility model, which would incorporate reference data, reconciliations, trade expense management, corporate actions, and tax and regulatory… Read More >>
Symbiont Unveils Blockchain-Based ‘Smart Securities’
Symbiont, a new startup that aims to streamline financial markets by marrying them with Blockchain technology, unveiled its flagship Smart Securities platform on Tuesday. The company will be competing with a number of other start-ups offering Blockchain-based platforms for trading, clearing and settling securities, but Symbiont’s executives say their long history working with Bitcoin will… Read More >>
SWIFT Recertifies SmartStream’s Corporate Actions Software
SmartStream, a London-based financial transaction management software specialist, reports that its TLM corporate actions processing software has again received certified application status from the SWIFT cooperative for financial messaging and related systems. Certified application status, which is subject to yearly renewal, ensures that the application is “fully compliant with SWIFT corporate actions messaging standards,” SmartStream… Read More >>
