Symphony to Enhance DTCC Exception Manager Service The New York City-based Depository Trust & Clearing Corp. (DTCC), a post-trade market infrastructure provider for the financial services industry, reports that it has signed an agreement with Symphony, a cloud-based messaging and collaboration platform. The agreement “significantly expands communication and collaboration capabilities within the DTCC Exception Manager… Read More >>
Multiple Systems & Processes Complicate Data Consolidation: Q&A
(Matthew Bergerman, the director of product management at DTCC Data Services, oversees the development of data solutions for the equity, fixed income and reference data markets. An industry veteran with more than 20 years of experience in the financial information industry, Bergerman joined the DTCC in 2015 after leading market data and reference data efforts… Read More >>
SuMi Trust USA to Use DTCC’s GC Direct
First Japanese Custodian Bank Signs Up for Alert Service Sumitomo Mitsui Trust Bank is the first Japanese global custodian firm to use the Alert Global Custodian Direct (GC Direct) service to provide standing settlement instruction (SSI) data to its clients, report officials of the DTCC, a major post-trade services and systems provider. The agreement enables… Read More >>
Finastra to Sell CMC Business Unit to Teranet
Teranet’s CM Solutions Will Acquire the Shares of CMS London-based financial software vendor Finastra, formed in 2017 by the combination of Misys and D+H, reports that it has entered into a definitive agreement to sell its Canadian-based Collateral Management Corp. (CMS) business to Teranet. Teranet’s affiliated entity CM Solutions Inc. will acquire the issued and… Read More >>
DTCC Bolsters Support for SFTR Reporting via Partnerships
Financial services firms are gearing up for the reporting requirements of the Securities Financing Transaction Regulation (SFTR), and the DTCC is partnering with EquiLend, Trax, IHS Markit and Pirum to improve its global trade reporting capabilities before the SFTR rules take effect by the end of next year. Even though SFTR originated with the European… Read More >>
FTF News Unveils Winners of 2018 FTF Awards
Providers of established and cutting-edge technologies such as blockchain ledgers and artificial intelligence are getting the spotlight in the winners’ circle of the annual FTF News Technology Innovation Awards for 2018, the eighth time that Financial Technologies Forum (FTF) has recognized achievements in the securities operations industry. Other than the Editor’s Choice award, qualified industry… Read More >>
DTCC Releases Timetable for Settlement Optimization Plan
First Part of the Launch Slated for Q3 2019 Post-trade infrastructure systems provider the DTCC has released a timetable for the first phase of settlement optimization, which intends to remove “an entire market day of settlement exposure without eliminating a calendar day from the standard trade settlement process,” DTCC officials say. The initial piece is… Read More >>
Global Framework Would Fix Fragmented OTC Repositories: DTCC
A new report from the DTCC calls for a new global reporting framework to complete the Great Recession mandate of the Group of 20 (G20) to establish repositories of over-the-counter (OTC) derivatives trades, intended to help regulators sift out potential risks. The DTCC is also pointing to the possibilities of distributed ledger technology (DLT) and… Read More >>
Digital Asset Launches Developer Program for Smart Contracts
Digital Asset, a pioneer of distributed ledger technology (DLT) for financial services, is launching a developer program for writing smart contracts via the Digital Asset Modeling Language, an attempt to bring DAML to “a wider audience” that will pave the way for more applications to run via the vendor’s flagship platform. “DAML is the enterprise… Read More >>
DTCC Pushes for Tougher Cybersecurity Response
In a way, the DTCC is thinking the unthinkable as it advocates for a better coordinated, cross-industry defense against a major cyber-attack that could cripple financial markets. “Ultimately, the industry cannot rely on the low feasibility of cyber-attacks with systemic consequences,” according to a new white paper report from the post-trade infrastructure services and solutions… Read More >>
