EBS Clients Get STP via TRTN Foreign exchange (FX) trading platform EBS is now part of a post-trade network offering, the Thomson Reuters Trade Notification (TRTN), in an effort to offer EBS clients straight through processing (STP) support, officials say. EBS is joining more than 2,500 other publishers on TRTN, which Thomson Reuters officials say… Read More >>
Omgeo Alert Settlement Utility Hits Milestone
Omgeo Alert, an online global database of account information and standing settlement instructions (SSIs), has hit a milestone with more than six million settlement instructions — a major step forward in its push to become the dominant SSI utility, say officials of the post-trade market infrastructure services provider the DTCC, which owns Omgeo. SSIs hold… Read More >>
ICAP Division Dives into Blockchain
The Post Trade Risk and Information (PTRI) division of interdealer broker ICAP reports that a recent proof of technology test for a blockchain-based distributed ledger for smart contracts is just the beginning for the firm’s exploration of the cutting-edge technology, say ICAP officials. The test conducted on February 26 involved 16 ICAP staff members, ICAP… Read More >>
BAE Profiles ‘World’s Most Dangerous Cybercriminals’
Six Types of Cybercriminal to Avoid BAE Systems, the London-based, multinational security company, recently released profiles of “six prominent types of cybercriminals” and detailed how they could hurt companies around the globe, officials say. Threat intelligence experts at BAE Systems have compiled a list, “The Unusual Suspects,” that has been created from “research that uncovers… Read More >>
Hong Kong Clarifies Rules for OTC Derivatives Trading
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) proposals on introducing mandatory clearing and expanding mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime is only the next stage of the territory’s staggered approach to implementing new derivatives rules. The actions were expected and sell- and… Read More >>
Digital Asset Lands A-List Backers and $50M in Funding
Digital Asset Holdings, LLC, a New York City-based developer of distributed-ledger technology for the financial services industry, reports that it has “raised more than $50 million in funding” from several prominent financial industry players. The company’s new investors are: ABN AMRO, Accenture, ASX Ltd., BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse… Read More >>
CLS, TriOptima Team Up for FX Compression Service
CLS Group (CLS), a specialist settlement bank for the global foreign exchange (FX) market, and TriOptima, a vendor focusing on over-the-counter (OTC) derivatives post-trade services, are behind the launch of the triReduce CLS Forward FX Compression Service that combines the CLS infrastructure with TriOptima’s compression offering, officials say. Compression is the practice of canceling out… Read More >>
UBS to Pay $19.5M Penalty for Structured Note Omissions
UBS will be paying $19.5 million to the SEC to settle charges that it “made false or misleading statements and omissions” when offering materials to U.S. investors who were sold structured notes tied to a proprietary foreign exchange trading strategy, say SEC officials. The SEC is not alleging that UBS officials intended to defraud investors… Read More >>
Northern Trust’s CompleteFX Covers Post-Trade Ops
Custodian and asset service provider Northern Trust is confirming that its new offering CompleteFX, an outsourced service for processing and executing foreign exchange (FX) products for investment managers, offers support for settlement and other post-trade operations. The CompleteFX platform offers “accurate trade settlement,” which allows clients to “take advantage of our compression functionality to minimize… Read More >>
EBS BrokerTec to Incorporate MyTreasury
EBS BrokerTec, a provider of electronic foreign exchange and fixed income trading platforms, is adding the money market fund platform MyTreasury to its product portfolio as part of the company’s multi-product expansion strategy. EBS BrokerTec and MyTreasury are owned by interdealer broker ICAP. In addition, EBS BrokerTec will be including an FX offering with MyTreasury, which… Read More >>
