A few weeks back I focused on the fines and penalties that firms paid to government authorities for violating anti-money laundering (AML) restrictions, know your customer (KYC) requirements, and economic sanctions. This time, however, I am focusing upon the money that the securities industry spends to be AML compliant, which as it turns out, is… Read More >>
Key Swaps Rules Get SEC Spotlight
Amid the stampede to emerging and disruptive technologies, a few more Earthly matters must be resolved within the realm of securities operations. One of those matters is the final resolution of the SEC’s proposed rules and amendments that govern capital, margining, and segregation requirements for securities-based swaps. These guidelines are important to “security-based swap dealers… Read More >>
The Fed Wants Faster Interbank Settlements
The usually aloof and austere Federal Reserve Board is hinting that it may want to enter the 21st Century. A little out of the blue, the Fed has announced that it wants public input about the creation of a real-time interbank settlement system for faster payments that could affect a wide variety of financial transactions…. Read More >>
Is the U.S. Treasury Market Ready for Change?
The U.S. Treasury market could see “rapid and dramatic change” that could result in a clearing monopoly being replaced by “a more competitive European model,” according to a new report from market research firm Greenwich Associates. The report, dubbed “Invisible Frontiers: How Clearing Shapes U.S. Treasury Market Structure,” argues that “the market structure for U.S…. Read More >>
Ops Staffs Still Reeling from Great Recession: Q&A
(David Pearson is the head of post-trade strategy at Fidessa, a vendor providing electronic trading, investment and information solutions. In his post, he oversees the creation and spread of new business ideas across the global Fidessa buy- and sell-side community. He is also engaged in the restructuring of business flows across financial markets, from pre-trade… Read More >>
Firms Fined $26B Over the Past Decade: Fenergo
Have you ever wondered how much financial services firms have paid over the past decade in fines when they have been in violation of anti-money laundering (AML), know your customer (KYC) and sanctions regulations? Fenergo, mostly known for its client management solutions, decided to find answers to that question using “various sources, including regulatory and… Read More >>
Performance Teams Face Manual & IT Barriers: Q&A
(FTF News recently got time with Justin Wheatley, group chief executive for StatPro, which won the Best Performance Measurement System honor of the FTF News Technology Innovation Awards for 2018. Wheatley’s career got its start in 1989 when he was a salesman with Micropal, an independent information provider covering mutual funds. By 1994, Wheatley founded… 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 >>
Helping Those Whose 9/11 Grief is Forever
It’s been 17 years since the terrorist attacks on Sept. 11, 2001 and most everyone has stories, moments, images and emotional links that defy the passage of time. For many people who lost family, friends and co-workers on 9/11 the ties to trauma, grief and pain are very present and real. We should do what… Read More >>
‘Writing is Harder than Trading’: Ex-MD Embraces Fiction
(As we head into the Labor Day weekend, it’s a time to reflect upon accomplishments and what needs to happen next. It’s also a time for people to evaluate where they are in their career and even if they want to stay in that career. For Wall Street veteran Michael Sears, a former managing director… Read More >>
