Financial cloud solutions provider Beeks Financial Cloud Group is partnering with trading and clearing provider Securities & Trading Technology (STT) to offer a managed service that incorporates clearing, settlement, trade execution, risk management, and surveillance, officials say. The timing was the driving factor for the collaboration between STT and Berks Group as they want to… Read More >>
SEC’s Recordkeeping Crackdown Is Just the Start
(Editor’s note: As many firms have found out, the Securities and Exchange Commission (SEC) was serious when it announced a crackdown on the recordkeeping culture of the U.S. securities industry. Nearly 30 of the industry’s top financial services firms have been accused of violating recordkeeping rules. In fact, during the SEC’s 2023 fiscal year, 25… Read More >>
iCapital Buys Mirador to Better Serve Alts Space
iCapital, a platform provider for alternative investment markets, is hoping to expand its data management and reporting capabilities for the wealth management, family office, endowment, and foundation segment markets via its recently announced acquisition of Mirador, officials say. Mirador offers investment data aggregation, financial reporting services, middle office support, and IT solutions and products to… Read More >>
Swift Explores CBDC Links to FX, Tokens & Liquidity
The global Swift financial messaging cooperative has completed a collaborative “sandbox experiment” testing the interoperability of an interlinking solution for central bank digital currencies (CBDCs) intended to “simplify and speed up trade flows, unlock growth in tokenized securities markets, and enable efficient FX settlement,” officials say. CBDCs are the digital currencies likely to be issued… Read More >>
Corporate Actions Pilot Takes Aim at Manual Processes
(Editor’s Note: In early March, DTCC officials conducted a two-phased pilot program to bring more automation to corporate actions (CA) processing. The effort addresses decades-long asset services challenges around the sourcing of corporate actions announcements via streamlining interactions across the agent and issuer community through standards and automation. The ultimate goal is to eliminate manual… Read More >>
FundGuard Raises $100M to Ramp Up Platform & Staff
FundGuard, an investment accounting platform provider founded in 2018, has just raised $100 million via Series C funding — generally for late-stage startups — because the company is the first of its kind in 25 years to advance securities operations, company officials say. FundGard will be using the cash infusion to hasten the development of… Read More >>
Clearstream Taps Intix to Bolster Data Management
Deutsche Börse Group’s post-trade services company Clearstream is working with data solutions provider Intix in an effort to meet regulatory and customer demands for better access and management of financial messaging data, officials say. Intix is a transaction data management platform that helps financial services firms “monitor, comply, manage risk, and detect fraud in every… Read More >>
Time to Step Up Your T+1 Game?
Another T+1 readiness survey has highlighted a persistent lack of preparedness among buy-side firms as the summer deadline for the T+1 transition for the U.S., Canada, and Mexico approaches. Despite the Depository Trust and Clearing Corp.’s (DTCC) assurances, recent reports from vendors and banks depict concerning levels of unpreparedness among investment managers. This lack of… Read More >>
Broadridge Embraces SaaS for Futures & Options Platform
Broadridge Financial Solutions has just launched a Software-as-a-Service (SaaS) platform, dubbed Broadridge Futures and Options (F&O), to “transform order and execution management capabilities for sell-side institutions,” according to the post-trade systems and services provider. The new F&O platform, which expands Broadridge’s support for derivatives trading, has been “tailored for futures commission merchants (FCMs) and agency… Read More >>
Survey Finds a Digital Divide for Securities Firms
The securities industry is facing a growing digital divide as securities firms taking a leadership role are outpacing firms that are not, particularly when it comes to developing a strategy for attracting staff with advanced digital skills and talent. This is according to the “2024 Digital Transformation and Next-Gen Tech Study” conducted by Broadridge Financial… Read More >>
