Derivatives exchanges company CME Group and the Depository Trust & Clearing Corp. (DTCC) have gone live with their enhanced cross-margining arrangement, intended to facilitate capital efficiencies for “clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures.” “With the new arrangement implemented, eligible clearing members of CME Group and… Read More >>
ITI Capital to Deploy Torstone’s ‘Inferno’
ITI Capital, a brokerage and investment house, has begun implementing a post-trade processing platform, Inferno, from Torstone Technology to help it deal with growing pains as its institutional business takes off. The firm has signed a multi-year agreement with the post-trade securities and derivatives processing vendor, which will provide a multi-asset, multi-entity cloud-based system that… Read More >>
DTCC Bolsters Support for SFTR Reporting via Partnerships
Financial services firms are gearing up for the reporting requirements of the Securities Financing Transaction Regulation (SFTR), and the DTCC is partnering with EquiLend, Trax, IHS Markit and Pirum to improve its global trade reporting capabilities before the SFTR rules take effect by the end of next year. Even though SFTR originated with the European… Read More >>
New SmartStream Team to Investigate AI for Ops
SmartStream Creates ‘Innovations Team’ SmartStream Technologies, which characterizes itself as a financial transaction lifecycle management provider, reports that its new “innovations team” is “working with financial institutions to optimise workflows, using Artificial Intelligence (AI), Machine Learning (ML) and blockchain technologies, in the areas of reconciliations, cash management and fees and expense management.” The new… Read More >>
IHS Markit to Sell MarkitServ & Acquire Ipreo
Financial data vendor IHS Markit is moving to divest itself of its MarkitServ derivatives processing business, and to acquire Ipreo, a software solutions and data provider whose complementary offerings will result in more comprehensive offerings, officials say. Officials at IHS Markit say the provider of securities trading information, analytics and solutions, is willing to pay… Read More >>
CME Group to Buy NEX Group for $5.5 Billion
Derivatives exchange operator CME Group Inc. is set to acquire NEX Group plc for an estimated $5.5 billion and, if all goes well, the combined provider of transaction processing across futures, cash and over-the-counter (OTC) instruments will be able to offer many post-trade capabilities beyond clearing services. The CME Group encompasses: CME Clearing; the Chicago… Read More >>
New Collateral Management Strategies Require New Building Blocks
Post-crisis regulation and competitive market conditions have forever changed the collateral management process for securities trading firms. The push to develop new collateral optimization strategies has often uncovered major problems within a firm’s own systems and processes. Most firms have had to move quickly to revamp their internal systems and craft new collateral management operations… Read More >>
FTF Awards Q&A: Are In-House Ops a Luxury?
(FTF News recently got time with SmartStream’s Darryl Twiggs, senior vice president for the Strategic Initiatives division, and Kurt Eldridge, global head of sales, to talk about the two awards that the company took home: Best Outsourcing Provider and Best Derivatives Operations Solution. They also share their thoughts on the future of managed services and… Read More >>
Natixis Tightens Collateral Management via Torstone Module
Natixis Japan Securities Co. will be using the Inferno module from post-trade securities and derivatives processing vendor Torstone Technology to increase the level of automation and optimization of its collateral management processes, cut operational inefficiencies and comply with regulatory requirements in Asia. Natixis, the corporate, investment management and financial services arm of Group BPCE, has… Read More >>
ISDA Worries Firms Will Miss Margining Deadline
New Variation Margining Rules Hit March 1 Starting March 1, financial services firms will be subject to “new rules that will require them to exchange variation margin on their non-cleared derivatives trades,” but many of them may miss that deadline, says Scott O’Malia, CEO of the International Swaps and Derivatives Association (ISDA) in the Jan…. Read More >>
