The Canada Life Asset Management (CLAM) group has picked Northern Trust to provide asset servicing solutions because of the provider’s focus on operating model efficiency and on data quality, according to the firm. The new arrangement will see Northern Trust providing middle office outsourcing, global custody, securities lending, fund administration, and depositary services which should… Read More >>
BNY Mellon Debuts Pershing X Wove Suite & Bundled Offering
The Bank of New York Mellon is moving to bring greater cohesion to key Pershing offerings, which at the same time will open pathways to the custodian bank’s more enterprise-wide offerings. BNY Mellon’s enhancements to the Pershing X Wove platform are in line with the provider’s goal to be the “most connected advisory platform in… Read More >>
FTF FOCUS: Digital Assets Reshape Custody
Digital assets are rapidly becoming a part of the landscape for global securities markets and are disrupting established operations such as custody and prime brokerage services. In this issue of FTF Focus, we offer an in-depth view into the cutting-edge of custody, tracking how digital assets are redefining the sector. The report also covers another… Read More >>
BNP Paribas & Clearwater Partnership Yields Combined Services
Custodian BNP Paribas Securities Services and service provider Clearwater Analytics have formed a partnership that is targeting asset owners by combining custody services with investment accounting support from Clearwater, officials say. The gain for potential clients of both is that BNPPSS and Clearwater have coupled their offerings to ensure a preconfigured set-up for all the… Read More >>
Are We Heading Toward the Age of DLT?
I think it’s fair to say that distributed ledger technology (DLT), a.k.a. the blockchain, is making real inroads into the complex universe of post-trade securities operations. I am referring to the infrastructure-building/plumbing aspects of DLT, which emerged before its role in the wild embrace of crypto- and digital asset transactions, tokenization, etc. The DLT-based systems… Read More >>
SEC Moves Comment Deadlines on Key Rules & Other News
Public Gets More Time to Respond to SEC Proposals Bowing to industry requests for more time, the Securities and Exchange Commission (SEC) is extending the public comment period for three new rules in the proposal stage. Industry participants were given more time to comment upon the proposed rule “to enhance and standardize climate-related disclosures… Read More >>
State Street Fast Tracks Digital Asset Custody Services: Q&A
(Earlier this month, State Street Digital, part of State Street Corp., signed a licensing agreement with an institutional digital asset custody and trading infrastructure vendor, Copper.co, based in London. State Street Digital is using Copper to fast track the construction of its custody services for active cryptocurrencies and other digital assets. Those services, which are… Read More >>
Firms Suffer via Ops Expenses Blind Spot: Report
Lackluster investment in post-trade processes has caused an information blackout that prevents financial services firms from getting an enterprise-wide view of the money that has been spent on brokerage, custodian, exchange, and clearing services, and this weakness is taking a toll on profits, according to a new report from Meritsoft, a post-trade process automation services… Read More >>
State Street Buys BBH Investor Services for $3.5B
State Street Corp. is acquiring the custody, accounting, fund administration, global markets, and technology services of private bank Brown Brothers Harriman & Co. — known as BBH’s Investor Services business — for $3.5 billion in cash in a major bid to become the top provider in the investment servicing industry. The firms report that they… Read More >>
BNY Mellon Readies Platform for Digital Asset Custody
Digital Assets Platform Due Later This Year New school crypto-currency and other digital assets have gotten the blessings of the establishment with the news that BNY Mellon is creating a digital assets unit slated to create a secure infrastructure to facilitate the transfer, safekeeping, and issuance of digital assets. The new Digital Assets unit “will… Read More >>
