Citing systemic risk mitigation, securities industry trade group SIFMA is throwing its support behind a move to shorten the settlement cycle for U.S equities, corporate bonds and municipal bonds. But there will be stones in the road to tighter settlement times. Currently, the U.S. settles transactions from trade date plus three days (T+3); SIFMA and… Read More >>
Citi Cuts Staff as Jill Considine Joins LCH.Clearnet
Citi Cuts Staff as Profits Rise Multiple news organizations are reporting that Citigroup is cutting 200 to 300 positions from equity and fixed income trading groups even as the bank reported favorable net income results for the first quarter of this year. For Q1 2014, the bank’s net income was up four percent to $3.9… Read More >>
Compliance Science Hires a CTO as DTCC Fills Out Board
Compliance Science Hires from Albridge for CTO Post George McKevitt has joined Compliance Science (CSI), the provider of governance, risk management and compliance solutions, as chief technology officer. From 2006 to 2013, he served as chief information officer at Albridge Solutions, an affiliate of BNY Mellon’s Pershing company that provides data aggregation, portfolio accounting and… Read More >>
Special Report: FIX Moves Into Post-Trade Processing
Buy- and sell-side firms are reassessing their post-trade infrastructures and looking for cost-effective ways to streamline operations. Firms are finding a new ally in their post-trade quest: the venerable FIX protocol, which is extending nicely from the front office into middle office functions. Technology vendors and service providers are moving fast to meet a growing… Read More >>
CFTC Delays Swap Package Execution as SIX Financial Launches FATCA Service
Bowing to industry concerns, the CFTC has delayed a requirement that swap packages be transacted via swap execution facilities (SEFs), and has clarified that the mandatory SEF-based trading of interest rate swaps and index credit default swaps will begin on Feb. 15. Swap packages were granted a reprieve from the SEF mandate via a no-action… Read More >>
Ready for a 1,000% Spike in Margin Calls?
A new white paper from the DTCC predicts that margin calls on derivatives could increase by as much as 1,000%. The paper cites regulatory changes that will spur fragmented clearing and a jump in margin calls. With so much that can go wrong, the new clearing regime for derivatives is quickly becoming a major operational… Read More >>
SunGard Financial Systems Hires Marianne Brown as ISITC Has a New Chair
SunGard Financial Systems Hires Marianne Brown as COO SunGard has cleared up the mystery over the next move for Marianne Brown, who is stepping down from her post as president and CEO of Omgeo. Brown will become the next chief operating officer (COO) of SunGard’s Financial Systems business on Feb. 24, officials say. Brown, who… Read More >>
Q&A: Paula Arthus to Take the Reins at Omgeo
Paula Sausville Arthus took time out of her busy schedule to give FTF News a preview of what she would like to achieve when she takes the reins from Marianne Brown (please see accompanying Q&A), who will leave her position as president and CEO of post-trade services vendor Omgeo on Feb. 21.An industry veteran, Arthus… Read More >>
Q&A: Marianne Brown Bids Farewell to Omgeo
FTF News had a quick chat with Marianne Brown, who will step down from her position as president and CEO of post-trade services vendor Omgeo on Feb. 21. Brown will be succeeded by Paula Sausville Arthus (please see accompanying Q&A) who has more than 25 years of experience in financial services, according to the DTCC,… Read More >>
Marianne Brown to Leave Omgeo
Marianne Brown will leave her position as president and CEO of post-trade services vendor Omgeo after serving for seven years and will be replaced by Paula Sausville Arthus, say officials at the trade processing utility DTCC, which owns Omgeo.On Feb. 21, Arthus will succeed Brown, who is departing to “pursue other business opportunities,” DTCC officials… Read More >>
