(Editor’s note: Designed for simplifying client data gathering and document management, the Clarient Entity Hub utility service of Clarient Global went live in the spring with the support of Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street. The hub targets the client onboarding and client lifecycle operations such as know your… Read More >>
Could Poor Op Risk Management Spur Another Financial Crisis?
Poor operational risk management related to the origination and securitization of mortgages played a large but often overlooked role in the Great Recession. Now, eight years on, industry observers are split over whether the financial services industry has learned its lessons on the pitfalls of neglecting Op Risk. Linda Allen, a finance professor at Baruch… Read More >>
DTCC Takes Aim at the Roadblocks to Data Transparency
Increasing the transparency of the global financial system was one of the major goals of the G20 framework that followed the Great Recession and led to major financial services reform legislation like the U.S’s Dodd-Frank Wall Street and Reform Act. Even though there are many bright spots in this area — some industry observers see… Read More >>
DTCC Elects Deutsche Bank’s Turley to Board
The DTCC, a post-trade market infrastructure provider for the financial services industry, reports that Jim Turley, co-head of group technology and operations for Deutsche Bank, has been elected to its board of directors, officials say. The board “provides direction and oversight for DTCC in the interests of its diverse stakeholders, while promoting safety and stability… Read More >>
T+2 Committee Wants ‘Clear Action’ via the SEC
The goal of shortening the U.S. settlement cycle to T+2 (trade day plus two days) by 2017 should be achievable, representatives of a securities industry T+2 initiative say. But regulators will have to step up to the plate and make the rules changes essential to getting the initiative off the ground. Specifically, that means SEC… Read More >>
AcadiaSoft Forms Margining Hub for Non-Cleared Derivatives
Margining platform vendor AcadiaSoft has successfully linked its own system with that of several other providers in the margining automation space, creating the first industry-wide margining utility for non-cleared derivative instruments. AcadiaSoft linked its MarginSphere 2 electronic messaging service for over-the-counter (OTC) derivatives with TriOptima’s triResolve OTC trade reconciliation service and the DTCC-Euroclear’s Margin Transit… Read More >>
Promotion in SEC’s Office of Market Supervision
The SEC has promoted John C. Roeser to the post of associate director and deputy head of the office of market supervision in its division of trading and markets, officials say. Roeser, who assumed the new post immediately, has been an assistant director in the office of market supervision since 2005 and played a key… Read More >>
DTCC Urges Trade Data Harmonization
Post-trade services and systems provider DTCC, which operates the Global Trade Repository, a derivatives trade reporting service for brokers, buy-side firms and corporates in nine jurisdictions across 33 countries, has made recommendations regarding global data harmonization to the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) harmonization working… Read More >>
Key Groups Push U.S. to Embrace T+2 by Q3 2017
Key industry organizations have issued an official timetable for a shorter, two-day process (T+2) for trade settlement in U.S. markets with the goal of implementation by the end of the third quarter of 2017. The suggested timeline via a whitepaper from the T+2 Industry Steering Committee (T+2 ISC) is intended to put the U.S. in sync with… 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 >>
