SIX, an exchanges and financial data company, reports that it has acquired a majority stake in FactEntry, a fixed income data and solutions vendor, as a way for SIX to strengthen its cross-asset data offerings for the front-, middle-, and back-office. The majority stake acquisition closed on March 27, 2024, and financial terms and deal… Read More >>
BondWave Bolsters Liquidity Access to ICE Bonds & Other News
BondWave Builds New Links to ICE Bonds Fixed income solutions vendor BondWave reports that has much more tightly integrated its Effi Markets with the transaction platforms of ICE Bonds, part of the Intercontinental Exchange, so that Effi users can have better access to liquidity pools and execution protocols. “BondWave and ICE Bonds have enjoyed a… Read More >>
ICE Expands Fixed Income Services & More News
ICE Best Execution Platform Gets a Makeover Officials at Intercontinental Exchange, Inc. (ICE) report that the exchanges and technology company is doubling its coverage of fixed income instruments via improvements to the ICE Best Execution Service platform. The enhancements encompass pre-trade analysis, and front-, middle- and back-office services, and will help the ICE platform manage… Read More >>
Gensler Pushes for Bond Trading Ops Overhaul
SEC Chair Gary Gensler is calling for a revamp of operations for U.S. fixed income markets — representing $53 trillion in securities — and is calling for price transparency, faster bond reporting, and more transparent post-trade processes, arguing that a new openness would improve counterparty risk management, bolster evaluations of trade execution quality, and increase… Read More >>
FinTech Still Drives Ops: Q&A with Confluence
(Confluence Technologies, a solutions provider for investment management firms, is no stranger the strong currents of change that ripple through the financial technology industry. Just last month, Confluence, backed by Clearlake Capital and TA Associates, acquired Compliance Solutions Strategies (CSS), a cloud-based regtech solutions vendor, and Investment Metrics, a provider of investment data, performance, analytics,… Read More >>
FICC & SEC Settle Backtesting Case for $8M
The United States Securities and Exchange Commission reports that Fixed Income Clearing Corp. (FICC), a clearing agency that is a wholly owned subsidiary of the Depository Trust & Clearing Corp. (DTCC), will pay an $8 million penalty in a settlement of the commission’s charges that it “failed to have adequate risk management policies” within its… Read More >>
Corporate Actions Ops Are Stuck in Manual: Survey
But Firms Want Real-Time Corporate Actions Data A new report based on survey results reveals that slightly more than “three-quarters of respondents (78 percent) still process part of their corporate actions manually, with 40 percent processing more than half of their corporate actions in this way,” according to research sponsored by data and infrastructure services… Read More >>
DTCC Fights Fragmented Clearing for Treasuries
Fragmented clearing for the U.S. Treasury market is on the minds of those at the DTCC, the industry’s major post-trade services and infrastructure provider, and they have released a white paper that they hope will spark a discussion about this contentious issue. There is even a suggestion that there might be a need for a… Read More >>
Broadridge Partnership Yields Corporate Bond Trading Platform
Post-trade systems and services provider Broadridge Financial Solutions reports that it’s partnering with Jim Toffey, founder of Tradeweb and now CEO of LiquidX, and has added artificial intelligence technologies to a Broadridge fixed income post-trade processing offering to create a corporate bond trading platform, dubbed LTX. The new platform has already been used to execute… Read More >>
CastleOak Securities Hires MD from Deutsche Bank
Boutique investment banking firm CastleOak Securities has hired Rick Carr as a senior managing director and co-head of sales and trading, officials say. In his new role, Carr will report to David R. Jones, president and CEO of CastleOak, and he will be focused on “building the firm’s fixed income business and team nationally, with… Read More >>
