Post-trade services provider DTCC has taken another step toward its goal of establishing an industry-wide repository for over-the-counter (OTC) derivatives via the launch of its Global Trade Repository (GTR) in Canada, which will target buy-side firms when they begin reporting next year. The Ontario Securities Commission, the Autorité des Marchés Financiers in Québec and the… Read More >>
CFTC Orders Rule Reviews for DCMs
The CFTC’s Division of Market Oversight (DMO) has issued three separate rule enforcement reviews impacting major Designated Contract Markets (DCM) serving as trading venues, officials say. The DMO’s rule enforcement reviews will impact the Chicago Board of Trade (CBOT) and Chicago Mercantile Exchange’s (CME) audit trail program, the New York Mercantile Exchange (NYMEX) and Commodity… Read More >>
SEC Hits HSBC Private Bank with $12.5M Penalty
HSBC Private Bank (Suisse) is admitting wrongdoing and will pay $12.5 million to settle charges from the SEC that the Swiss-based private banking arm violated federal securities laws by not registering with the regulator before providing cross-border brokerage and investment advisory services to U.S. clients, SEC officials say. HSBC Private Bank has agreed to pay… Read More >>
Q&A: Post-Trade Integration Key to SEF Success
James Cawley was a co-founder of Javelin Capital Markets, the parent company of the pioneering Javelin SEF (swap execution facility). As regulators and the industry laid the groundwork for SEFs, Cawley took on a very public role in helping shape the rules and regulations of over-the-counter derivatives trading reform. Most recently, he led a key… Read More >>
FINRA Survey Finds Big Support for ‘Cop on the Beat’
The Financial Industry Regulatory Authority (FINRA) has unveiled a survey of 1,000 investing adults, finding that fully 92 percent of investors queried agreed to some degree that “it is important to have a regulatory ‘cop on the beat’ to protect investors and police the markets.” Specifically, 62 percent of survey respondents strongly agreed with that… Read More >>
Genpact, Lombard Risk Target Collateral Management Woes
Genpact, a specialist in business processes, operations and technology, and Lombard Risk Management, a collateral management services vendor, are joining forces to help firms optimize increasingly expensive collateral management operations, officials say. A new collaboration between the two will integrate Genpact’s Collateral Agreement and Reference Data Services (CARDS) and Lombard Risk’s COLLINE collateral, clearing, inventory… Read More >>
Q&A: Does Reg SCI Have Enough Bite?
Spencer Mindlin, an analyst with market research firm Aite Group, spoke to FTF News about the SEC’s vote to make the technology infrastructure of the U.S. securities markets more accountable via the Regulation Systems Compliance and Integrity (Regulation SCI). At Aite, Mindlin covers capital markets technology and has more than 15 years of experience in… Read More >>
SEC Tackles Exchange Infrastructure Breakdowns
Earlier this week, the SEC voted to take on the technology infrastructure of the U.S. securities markets with Regulation Systems Compliance and Integrity (Regulation SCI), acknowledging that most trading now is electronic, highly interconnected and potentially devastating if infrastructure performance problems become widespread, say industry observers. Regulation SCI is a set of rules and regulations… Read More >>
Wynyard Hires from British Intelligence Agency
Cyber-security vendor Wynyard Group has hired Andrew France OBE, the former deputy director of cyber-defense operations at British intelligence agency Government Communications Headquarters (GCHQ) as its new strategic advisor of intelligence, officials say. France spent the last years of his GCHQ career developing a national cyber-defense strategy for the U.K., and his hiring reflects a… Read More >>
Deutsche Bank Rolls Out AxiomSL to the Americas
German institution Deutsche Bank has expanded its relationship with financial technology provider AxiomSL (Axiom Software Laboratories), deploying the vendor’s regulatory reporting and capital calculations platform in its American branches after a previous rollout in Asian branches in 2012. Gordon Elliot, AxiomSL’s chief operating officer, says the platform Deutsche deployed consists of the vendor’s ControllerView and… Read More >>
