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 >>
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 >>
Industry Solves Half of the Tri-Party Repo Risk Problem
Bank of New York Mellon recently completed its leg of an industry initiative to reduce risk in the tri-party repo markets, following the disastrous role those markets played in causing the 2008 financial crisis. After successfully implementing a series of reforms laid out by the Federal Reserve-led Task Force for U.S. Tri-Party Repo Infrastructure Reform,… Read More >>
