The so-called “claw back” provision of the Dodd-Frank Act – which would allow securities firms to take back executive compensation resulting from fraudulent or otherwise inaccurate financial statements – is one of the few parts of the massive 2010 law that still hasn’t been turned into an actual rule yet. That might change soon however,… Read More >>
Calypso Hires for Professional Services
Treasury and capital markets solution vendor Calypso has appointed Medhi Miri as its new senior vice president of professional services, officials say. In his new role, Miri will oversee “the strategic direction of product implementation for Calypso’s clients, as well as process improvement and new service offerings,” according to a company statement. “Banks, regardless of… Read More >>
Linear Investments Deploys Market Surveillance System
Ancoa, a London-based provider of contextual surveillance and analytics for exchanges, regulators, buy- and sell-side firms, reports that Linear Investments, a UK investment manager, has deployed Ancoa’s market surveillance and analytics capabilities for its execution and trading platforms, officials say. “With market surveillance being a top priority in the regulators’ mind, and the new Market… Read More >>
DTCC to Use Risk Focus Product
Risk Focus, a New York City-based provider of trading, risk and cloud-enabling solutions for capital markets, reports that the post-trade systems provider DTCC will employ the Risk Focus Validate Trade engine internally, aiming to enhance its pre-user acceptance testing for the Global Trade Repository service of the DTCC. These steps are in advance of the… Read More >>
Buy Side Wants More Light in Dark Pools: Report
There’s widespread dissatisfaction with the level of transparency at dark pools among asset managers and hedge funds, according to a new report by market research firm, the Tabb Group. Roughly 72 percent of the head traders at 92 asset managers and hedge funds polled by Tabb researchers said they were “dissatisfied with transparency levels in… Read More >>
SunGard Launches Utility for OTC Clearing
Financial technology and services giant SunGard has launched its Post-Trade Derivatives Utility with Barclays as its anchor customer and is targeting futures commission merchants (FCMs) that need alternative services support, officials say. SunGard’s utility offers support for derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation, data management… Read More >>
MarginSphere 2 Targets OTC Margin Flow Surge
Margining automation vendor AcadiaSoft is targeting MarginSphere 2, the first major upgrade to its flagship platform, at easing the burden of compliance with new margining regulations coming down the pipeline for non-centrally cleared derivatives, officials say. First released in 2009, MarginSphere is an electronic margining platform for over-the-counter (OTC) derivatives that automates the margining process…. Read More >>
MarketAxxess Picks COO for European Business
MarketAxess, which operates an electronic trading platform and provides market data and post-trade services, has hired Scott Eaton to be the new chief operating officer (COO) of MarketAxxess Europe and Trax, its market data subsidiary. In his new role Eaton will oversee business operations for Europe, and he will be focused on “further growing the… Read More >>
Gresham Computing’s New CEO from SAS Institute
Reconciliation vendor Gresham Computing has appointed Ian Manocha as its new CEO, officials say. Manocha will be based in London and tasked with executing “on the firm’s ambitious and strategic global growth rates,” according to a company statement. Chris Errington, who previously held the CEO post at Gresham, is stepping down in light of Manocha’s… Read More >>
CFTC’s OIA Director Moves to Deputy Director DCR Post
The CFTC reports that Sarah E. Josephson, director of the CFTC’s Office of International Affairs (OIA), “has decided to leave her position as director of OIA to return to her previously held position,” which was deputy director in the CFTC’s Division of Clearing and Risk (DCR). Josephson has been at the CFTC for eight years,… Read More >>
