Polish clearinghouse KDPW_CCP has cleared the first over-the-counter (OTC) trades denominated in Polish zloty (PLN) between Citi Handlowy and mBank, officials say. The launch of KDPW_CCP’s OTC derivatives and repo clearing service was mandated by the European Market Infrastructure Regulation (EMIR), according to which all OTC trades of certain derivatives must be cleared by an… Read More >>
Q&A: ‘Custom Integration Can Be Resource-Intensive’
Kevin Carter, the chief technology officer (CTO) for the New York-based Dialectic Capital Management, gave a presentation on vendor management at FTF’s SecOps USA 2015 conference in New York this week. His session, “Multiple systems, One Enterprise: Integrating Many Vendors into Your Operations Team,” focused on the challenges of managing multiple vendors in increasingly complex… Read More >>
Medium-Sized Firms Get Stress Tests Too: Regulators
In case they have forgotten, medium-sized securities firms with total consolidated assets between $10 billion and $50 billion have been reminded by regulators about the disclosure requirements for the annual stress tests that they are required to conduct. “These medium-sized companies are required to conduct annual, company-run stress tests implementing a provision of the Dodd-Frank Wall… Read More >>
TORA Releases Real-Time Stock Borrow Solution
Tora, a provider of trading technology services, reports the release of a stock borrow management solution integrated with prime broker eLocate platforms. The eLocate feature also is integrated with Tora’s allocation engine, which can distribute borrow across different accounts with different prime brokerages, according to a Tora spokesperson. The solution enables clients to transform an… Read More >>
Markit to Acquire Information Mosaic
Financial data and technology vendor Markit is acquiring the corporate actions and post-trade securities processing provider Information Mosaic in a bid to position itself as “a leading provider of end-to-end corporate actions services,” say Markit officials. Financial terms were not disclosed by either vendor. “The transaction is expected to close in the third quarter of… Read More >>
Wall Street and Silicon Valley Fight for Talent
You might want to add Paul Revere of Wall Street to Jamie Dimon’s other titles, but it’s not the British invasion that the chairman, president and CEO of JPMorgan Chase recently warned about. “Silicon Valley is coming,” he declared in his April 8 annual letter to shareholders. “There are hundreds of startups with a lot… Read More >>
S&P Capital IQ Names Head of CUSIP Global Services
CUSIP Global Services (CGS), which produces identifying instruments and entities for the capital markets, has announced that Scott Preiss, currently CGS’s vice president and chief operating officer (COO), will replace Jim Taylor as head of the organization when he steps down on July 1. CGS is owned by S&P Capital IQ, which is itself owned… Read More >>
ICAP SVP to Focus on New Fixed Income Products
Interdealer broker ICAP has appointed Ted Bragg to be its senior vice president of fixed income product initiatives in the ICAP US Securities group effectively immediately, officials say. In his new role, Bragg will be based in New York and will be responsible for “creating and developing new hybrid fixed income products for ICAP’s US-based… Read More >>
Superintendent Lawsky to Leave NYDFS
Benjamin M. Lawsky, the New York State Department of Financial Services’ initial superintendent of financial services, will depart the agency in late June, after four years in the post, officials confirm. The agency was created by the New York State Senate in 2011, through the merger of two predecessor agencies, the New York State banking… Read More >>
DTCC Targets Internal Account Transfers for Alt Investments
The DTCC, a post-trade services and systems utility provider, reports the launch of its alternative investment products (AIP) service, a new capability within its wealth management services (WMS) business to streamline the processing of internal account transfers for alternative investments. With the AIP service, “market participants can now fully automate account transfers for non-traded real… Read More >>
