The global pandemic lockdown has given most of us a time-out that allows us to step back and reconsider a variety of situations. My mind went to scenarios for securities operations, and here are some of my musings on what-if scenarios that could pave the way for permanent changes, once we get to a new, safer… 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 >>
NYSE Arca Options Trading Floor to Partially Reopen
A West Coast options trading floor affiliated with the New York Stock Exchange (NYSE) will be partially reopening on Monday, May 4 — a possible harbinger of other open outcry trading floors resuming in-person operations as the economy re-emerges from the pandemic lockdown. The announcement came via an alert to traders on April 28 from… Read More >>
HSBC Halts Layoff of 35,000 Staffers
HSBC is putting the brakes on a layoff of 35,000 staffers that was originally announced in February, in a move to ease hardships during the pandemic. Other firms such as Morgan Stanley either have or are mulling similar halts to staff reductions. “I take the well-being of our people extremely seriously,” says Noel Quinn, group… Read More >>
Morningstar Acquires Sustainalytics for $59M
Morningstar Ups Ownership of ESG Research Firm Morningstar, Inc., an investment research provider, reports an agreement to acquire Sustainalytics, a provider of environmental, social, and governance (ESG) ratings and research. Morningstar also points out that it currently has an approximately 40 percent ownership stake in Sustainalytics, first acquired in 2017, and that, under the terms… Read More >>
Nasdaq Data Now Available via Cloud Service
Exchanges operator Nasdaq recently hit a COVID-19 speed bump as it was preparing to launch its Nasdaq Cloud Data Service (NCDS), which uses application programming interfaces (APIs) to provide access to real-time exchange data, indexes, and fund data. Before a full launch, Nasdaq had to find out if the implementation of the new offering would… Read More >>
Standard Chartered Evaluating Zoom & Google Hangouts
Standard Chartered is acting to review and approve secure web-based videoconferencing and related systems for its staff working remotely because of the pandemic, and the bank is still evaluating the services of Zoom Video Communications, a source familiar with the situation tells FTF News. Standard Chartered’s Zoom concerns came to light on April 14 via… Read More >>
SIMM Is Riding Out the Volatility Storm: ISDA
The global, economic tsunami caused by the COVID-19 pandemic is, among other things, spurring questions about the best way firms can calculate initial margin (IM), given the recent onset of wildly volatile financial markets. As you will recall, IM is essential for firms that engage in derivative transactions that are not centrally cleared. Firms are… Read More >>
FTF Awards Voting Extended to May 15
We will need a longer drum roll for the the nominations for the FTF News Technology Innovation Awards for 2020. We are extending the deadline for voting. In the wake of the current public health concerns and disruptions caused by the COVID-19 pandemic, we realize our clients, readers and extended community have shifted their priorities… Read More >>
UMR Deadlines Postponed Due to COVID-19
The COVID-19 pandemic has caused another major industry postponement: the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) have moved the deadlines ahead by one year for the last two phases of the implementation of the uncleared margin rules (UMR) for non-centrally cleared derivatives. “In light of the significant… Read More >>
