Panelists at Financial Technologies Forum’s Corporate Actions Processing Conference (CAPCon NY) this week describe the switch to ISO 20022-based systems as a harrowing one, involving considerable upheaval throughout the back office, but also one that can increase efficiency, decrease risk and cut costs in the long run. Although the ISO 20022 standard has been around… Read More >>
DTCC Unveils T+2 Steering Committee for U.S.
As FTF News recently reported, many market participants are of the opinion that – following the recent shift to a settlement cycle of trade day plus two days (T+2) in Europe – the same shift is inevitable in the US, which operates on a settlement cycle of trade day plus three days (T+3). Now, with… Read More >>
European Firms Weather T+2 Storm
The sun came up and the world was still standing after European firms made the switch from a settlement cycle of trade day plus three days (T+3) to trade plus two days (T+2) — something that had once seemed impossible to some. For many firms, the transition went off without a hitch. Other firms have… Read More >>
XSP: Firms Are Migrating to ISO 20022
Q: What SWIFT-related product trends have you seen among your clients for this year? A: We are seeing a continued migration toward 20022, with more firms moving beyond the proof-of-concept phase and beginning to highlight one or two pilot projects. Having tools that can facilitate this process has helped firms greatly. DTCC transformation and the… Read More >>
DTCC, Euroclear Launch Collateral Services Venture
The DTCC and Euroclear, both providers of post-trade market infrastructure services, have unveiled a joint venture that will “develop and streamline margin settlement processes and enhance access to securities collateral worldwide,” according to a spokesperson. The new company will target industry participants that have to comply with clearing and margining regulatory mandates, officials say. The… Read More >>
GBST Now Certified for Omgeo CTM
GBST Holdings Ltd. (GBST), a provider of securities transaction and fund administration software for the financial services industry, reports that it and Omgeo, a wholly owned subsidiary of The DTCC, have developed and certified a new iteration of GBST’s Syn~ application that features connectivity with Omgeo’s Central Trade Manager (CTM). The new application provides clients… Read More >>
Getting Ready for SIBOS Fall 2014
The annual SIBOS conference of the SWIFT financial messaging and services cooperative, at the Boston Convention & Exhibition Center from Sept. 29 to Oct. 2, will feature debates, keynote addresses, panel discussions and special interest sessions targeting many issues of concern to financial services firms engaged in post-trade securities operations. There will be chances to… Read More >>
Firms Brace for Grim, New Normal of Cyber-Attacks
The outlook for effective cyber-security strategies appears increasingly grim for financial services firms, especially in the wake of the recent massive breach at JPMorgan that saw cyber-criminals make off with gigabytes of sensitive data. Analysts and information security experts say that attack underscores the “new normal” that firms – even ones like JPMorgan that already… Read More >>
OTC Trade Reporting Begins in Canada
CDS Clearing and Depository Services (CDS) reports that it has received sponsorship from the Ontario Securities Commission (OSC) as part of the endorsement process required to become a pre-local operating unit (pre-LOU) of the global legal entity identifier (LEI) system. Once finalized, CDS will offer Canadian entities LEI-issuance in collaboration with the DTCC’s global markets… Read More >>
Fenergo Expands Operations to APAC
Fenergo, a Dublin, Ireland-headquartered provider of regulatory onboarding, entity data and client lifecycle management solutions for investment banks and capital market firms, has expanded into the Asia Pacific region, appointing Brett Hodge as regional head of sales and creating a local team based in Sydney, Australia. Hodge’s experience includes seven years as manager of Asia… Read More >>
