(Editor’s note: Jeffrey Zoller, chairman of The International Securities Association for Institutional Trade Communication (ISITC), an industry trade group focused on standards, speaks to FTF News about some of the difficult choices coming for financial services firms. ISITC’s 22nd Annual Industry Forum & Vendor Show is underway in Boston this week. In addition to his… Read More >>
AcadiaSoft Unveils Central Margining Hub for Derivatives
Norwell, Mass.-based AcadiaSoft, Inc. reports that it has begun industry testing of its Collateral Hub, which it characterizes as the “first ever Central Margining service for non-cleared OTC [over-the-counter] derivatives.” Twenty-eight major banks are participating in the test of the electronic-margin-management system, AcadiaSoft says, noting that its “new service will facilitate industry compliance with impending… Read More >>
Steering Committee Sets Date for T+2 Changeover
U.S. markets now have a September 2017 date to work toward for the move from the current settlement cycle of trade date plus three days (T+3) to a two-day cycle (T+2) because of a recommendation from the T+2 Industry Steering Committee (T+2 ISC), which is guiding the transition. At the same time, officials at the… Read More >>
MiFID II Delay Causes Joy and Frustration
As expected, the European Commission has approved a one-year extension for compliance with the revised Markets in Financial Instruments Directive (MiFID II), and while some firms are relieved others are frustrated by the “hurry up and wait” dynamic. The delay is intended to give more time to industry participants grappling with “the exceptional technical implementation… Read More >>
CFTC Designates NFA as SDR Data Recipient
CFTC Designates NFA as SDR Data Recipient The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator. “As… Read More >>
Integration Software from JPMorgan to Bolster Markit Clear
Financial data, systems and services vendor Markit will be using integration software acquired from JPMorgan to help pave the way for the straight through processing (STP) of loan transactions and to bring greater settlement efficiency to the syndicated loan market, officials say. Markit officials are not disclosing the financial terms of the acquisition, but they… Read More >>
Digital Asset Lands A-List Backers and $50M in Funding
Digital Asset Holdings, LLC, a New York City-based developer of distributed-ledger technology for the financial services industry, reports that it has “raised more than $50 million in funding” from several prominent financial industry players. The company’s new investors are: ABN AMRO, Accenture, ASX Ltd., BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse… Read More >>
DTCC Wants to Guide Blockchain’s Future in Ops
The DTCC is embracing with qualifications Blockchain distributed ledger technology and is signaling that settlement may be “an ideal long-term target” if the new technology can mature and scale under the tutelage of the post-trade infrastructure utility provider, which says it “is uniquely positioned to help implement this technology and increase its adoption.” DTCC officials… Read More >>
Markit to Acquire Loan/SERV and Meld It to Markit Clear
Financial information services and systems vendor Markit is acquiring the position reconciliation technology assets of DTCC Loan/SERV (Loan/SERV), a subsidiary of post-trade infrastructure provider DTCC, in an effort to integrate Loan/SERV’s service into the Markit Clear loan inventory platform, say Markit officials. The financial terms of the acquisition were not disclosed and Markit will not… Read More >>
T+2 Systems Will Get Built in 2016: DTCC
(Editor’s note: The push for a shortened settlement cycle got major boosts last year when SEC Chair Mary Jo White gave a provisional nod to the two-day settlement cycle (T+2), and when the U.S. T+2 Industry Steering Committee (T+2 ISC) submitted its Implementation Playbook to the SEC and released it publicly. The T+2 ISC is… Read More >>
