Barclays Capital Inc., a member of FINRA, the broker-dealer industry’s self-regulatory authority since 2007, has agreed to a censure and a $2.5 million fine for allegedly failing to report, or inaccurately reporting, over-the-counter (OTC) options positions to the Large Options Positions Reporting (LOPR) system. That alleged reporting hiccup happened approximately 4.3 million times from January… Read More >>
Will Europe Move to T+1?
The move to a shorter settlement cycle for European equities has many more moving parts than the transition in the U.S. and Canada, which are moving fast from the current trading day plus two (T+2) settlement cycle to the shorter, one-day, T+1 time frame for equity markets. In addition, Europe does yet face pressure from… Read More >>
Time to Rethink A.I.?
You don’t need artificial intelligence (A.I.) to predict what the economy is up to, or the perils of global climate change, or even what the local weather will be like next weekend. But that does appear to be where we are headed. Don’t just take it from FTF News. Ask Jamie Dimon, the chief executive… Read More >>
Derivatives Firms Take Ransomware More Seriously: Q&A
(Editor’s note: In late January, ION Cleared Derivatives, part of the ION Group, reported “a cybersecurity event,” which was a ransomware attack that set off a crisis for the global processing of cleared derivative instruments. The attack got the attention of the CFTC and the Futures Industry Association (FIA) as company officials worked to resolve… Read More >>
SWIFT Optimistic After Applying Blockchain to Corporate Actions
Six major financial services firms and the SWIFT financial messaging cooperative report that late last month they pilot-tested a blockchain-based solution that streamlines the communication of “significant corporate events to investors” by getting rid of multiple data problems. In an announcement and a report, SWIFT provided details about this latest collaborative experiment with six securities… Read More >>
Pershing X to Use Snowflake’s Data Cloud & Other News
Pershing X is Expanding Its Services The Pershing X technology provider and business unit of BNY Mellon reports that it hopes to bring new analytics and data management to clients via a collaboration with Snowflake, a data cloud provider. Pershing X is “expanding its stand-alone data service offerings to wealth management firms” via the Snowflake… Read More >>
UBS Completes Repo Trade via Blockchain & Other News
Banks Use Broadridge DLR Platform UBS and an unnamed Asian bank have “executed the first cross-border intraday repo transaction on Broadridge’s blockchain-enabled Distributed Ledger Repo (DLR) platform,” according to operations, systems, and services provider Broadridge Financial Solutions. The intraday trade “marks the launch of the next phase in the rollout of Broadridge’s DLR platform …… Read More >>
The SEC Wants Electronic Filing for All Forms
Late last month, the SEC put forward amendments intended to “modernize its information collection and analysis methods by, among other things, proposing that a number of filings be submitted to the Commission electronically on EDGAR [the Electronic Data Gathering, Analysis, and Retrieval] system using structured data where appropriate,” according to the regulator’s announcement. Many in… Read More >>
LTX Moves Trading Platform to AWS & Other News
LTX Seeks to Leverage AWS Migration An electronic trading platform for corporate bonds LTX has migrated its platform to Amazon Web Services (AWS) with the intention of helping buy-side investors and dealers leverage the scale of AWS cloud services, officials say. The migration is also intended to help clients better optimize data science processes that… Read More >>
BNY Mellon Jolts Its Climate Strategy & Other News
BNY Mellon Taps Arjuna Capital Officials at the Bank of New York Mellon Corp. (BNY Mellon) say they are hoping to accelerate their climate strategy efforts via a collaboration with a sustainable investment management firm Arjuna Capital, which helps investors and institutions invest their assets according to environmental, social, and governance (ESG) concerns. “BNY Mellon… Read More >>
