When regulators recently extended the deadline for the margin requirements on uncleared swaps from Dec. 1, 2015 to Sept. 1, 2016, they gave firms some breathing room, but also sent the clear message that the rules aren’t going away. Firms active in the swaps markets are breathing a sigh of relief, but that shift should… Read More >>
Why Corporate Actions is Still an Ops Burden
Last week, in an FTF News story about a new white paper from financial messaging cooperative SWIFT, I focused on the toll that regulatory compliance is taking on financial services firms. I wasn’t able to delve into the corporate actions section of the SWIFT paper but I can do that now. As I noted, the… Read More >>
DTCC’s Client Data Hub Live at Five Top Banks
Barclays, Credit Suisse, Goldman Sachs, JPMorganChase and State Street are using the Clarient Entity Hub, a client onboarding and data management solution made by Clarient Global, a new DTCC company, officials say. The service helps firms “store, maintain and distribute data and documentation to relevant counterparties, service providers and regulators in order to comply with… Read More >>
Eze Software Upgrades Tradar PMS
Investment technology vendor Eze Software Group has completed a series of upgrades to portfolio accounting and reporting system Tradar PMS, improving asset class coverage across instruments and regions, officials say. The new functionalities are part of Eze Software’s “drive to streamline investment managers’ workflows and increase operational efficiency through tighter integration between Eze Software applications,”… Read More >>
Regulatory Compliance Tops List of Ops Burdens
A white paper from financial messaging and systems cooperative SWIFT finds that regulatory concerns tower over other operational challenges for the buy side in 2015. Research commissioned by SWIFT also shows that buy-side firms are grappling with automation and financial crime compliance initiatives. The findings came as a result of survey and are offered via… Read More >>
Liquidnet Bolsters Execution Services Group
Institutional trading network Liquidnet has hired Chris Jackson as the European head of Liquidnet’s Execution and Quantitative Services (EQS) Group, officials say. In his new role, Jackson will be responsible for “setting the strategic direction of the European Trading Desk and Algorithmic Services Group, as well as heading up the senior sales effort for Liquidnet’s… Read More >>
Barney Frank: Dodd-Frank’s Future Depends on 2016 Election
The future of the Dodd-Frank Act depends on the outcome of 2016 presidential election, says former U.S. Congressman Barney Frank, co-author of the massive financial services reform legislation. Frank says the law will be repealed if the Republicans win the White House, Senate and House of Representatives next year. During an appearance on a radio… Read More >>
Q&A: ‘Banks have always engaged in loophole mining’
On March 10, the Museum of American Finance released Genealogy of American Finance, published by Columbia Business School Publishing. Written and researched by financial historians Dr. Robert E. Wright and Dr. Richard Sylla, the book explores the history of how the 50 largest American financial institutions came to be, tracing out a complex family tree… Read More >>
Fed Wants LEIs for Certain Reporting Forms
The Federal Reserve Board on Monday, March 16, proposed that banking organizations be required to include their existing Legal Entity Identifiers (LEIs) on certain regulatory reporting forms, officials say. The LEI standard is a 20-character alphanumeric code that is universal and uniquely corresponds to a single legal entity. The LEI reference code enables easier identification… Read More >>
ISITC Survey Indicates Technology Spending Up
Industry trade and standards group ISITC has just released the results of its annual membership survey and has found that a high percentage of respondents, 88 percent, say that firms will benefit from increased spending on technology in 2015. Operational challenges with alternative and non-traditional investments and regulatory change may be on the spending list… Read More >>
