The push for shorter settlement cycles — trading day plus one, or T+1 — could pose major settlement and operational risks for buy-side participants in foreign exchange (FX) markets, according to guidance from the Foreign Exchange Professionals Association (FXPA), based in Washington, D.C. “The introduction of T+1 is not intended to increase FX settlement risk…. Read More >>
FinTech Briefs: HSBC’s Digital Custody Platform Set for 2024 & Other News
HSBC Collaborates with Metaco HSBC officials recently announced that the international bank will launch a digital assets custody service for institutional clients that invest in tokenized securities. “Once live in 2024, HSBC’s new digital assets custody service will complement HSBC Orion, the bank’s platform for issuing digital assets, as well as HSBC’s recently launched offering… Read More >>
FinTech Brief: SimCorp Offers Investment Analytics Platform
SimCorp is launching a cloud-native performance attribution solution that targets the “growing demand” for accurate performance analytics delivered in real-time, officials say. The new service is the first to be offered via SimCorp’s Investment Analytics Platform, the next stage of SimCorp’s performance measurement offerings, officials say. The new platform is “a calculation service … constructed… Read More >>
Regulators Unravel the Mysteries of Beneficial Ownership
First, we turn to Investopedia for a definition of “beneficial ownership.” “A beneficial owner is a person who enjoys the benefits of ownership even though the title to some form of property is in another name,” according to the Investopedia website. “It also means any individual or group of individuals who, either directly or indirectly,… Read More >>
Firms Embrace A.I. to Fight Financial Crime
A recent report finds that artificial intelligence (A.I.) technologies are not taking jobs from anti-money laundering (AML) professionals and that 86 percent of financial services professionals polled intend to increase their spending on A.I.-based technologies. In fact, the report, “Technology Transformation in Financial Crime Compliance,” from solutions provider WorkFusion and market research firm Celent, finds… Read More >>
TD Securities Picks Paxos Settlement & Other News
TD Securities to Settle Commodities via Paxos TD Securities is using a system from Paxos that simultaneously settles cash and commodities trades in an effort to achieve full automation for settlement and to streamline operations for traditional and digital precious metals trades, officials say. TD Securities joins many other firms that are part of Paxos… Read More >>
DTCC’s OTC Service Tracks North American Derivatives Data
DTCC has launched a cloud-based service that offers over-the-counter (OTC) derivatives transaction data — dubbed OTC Direct Connect — in near real-time so that investment firms can evaluate faster the risk factors of quickly moving markets, according to the post-trade infrastructure provider. The new service, which facilitates access to data about OTC derivatives transactions in… Read More >>
CQG Founder Transfers Ownership to Senior Executives
A group of senior executives at trading software provider CQG has acquired the privately held company from owner Tim Mather, who founded the company in 1980, officials say. Mather and Ryan Moroney, the current CEO of CQG, have been “focused on a transition plan when he was ready to step away that would put the… Read More >>
Open Source Helps Wall Street Innovate Faster
(Gabriele Columbro, executive director for the Fintech Open Source Foundation (FINOS), spoke to FTF News about a variety of subjects during the Open Source in Finance Forum (OSFF) sponsored by FINOS and held in New York City last week. Columbro focused on the Common Cloud Controls (CCC) effort to formulate consistent controls for cloud computing… Read More >>
SimCorp Bolsters North American Push via Axioma Merger
A month after it was officially acquired by Deutsche Börse Group, SimCorp, an investment management platform provider, will be merged with Axioma, a maker of factor risk models, portfolio construction tools, and multi-asset class enterprise risk solutions. SimCorp and Axioma are subsidiaries of Deutsche Börse Group, which should ease the merging process. The SimCorp-Axioma integration… Read More >>
