Trading and operations systems provider ION has launched connectivity to the recently launched FMX Futures Exchange. The connectivity will allow firms to trade via ION’s execution and post-trade product suite, officials say. ION will support transactions via the new futures exchange through ION’s “cleared derivatives front-, middle-, and back-office platforms.” ION’s offerings for cleared derivatives… Read More >>
OSTTRA Launches PvP Settlement for FX Transactions
Post-trade solutions provider OSTTRA is collaborating with Baton Systems to launch an on-demand payment-versus-payment (PvP) settlement service for foreign exchange (FX) transactions that is intended to mitigate bilateral settlement risk, officials say. The PvP system is also intended to optimize intraday funding, liquidity, and credit risk, officials add. The OSTTRA system will use Baton’s distributed… Read More >>
FinTech Brief: Canadian Pension Plan Reappoints Northern Trust
A major Canadian defined benefit plan, the Healthcare of Ontario Pension Plan (HOOPP) has reappointed Northern Trust as the asset servicing provider for the $103 billion (in Canadian currency) asset owner, which has a value of $76.9 billion in U.S. currency, officials say. Northern Trust, Canada, will provide global custody, foreign exchange (FX), and securities… Read More >>
Canadian Regulators Push for CDOR’s Exit & Other News
Expiration Date Coming for CDOR It’s the beginning of the end for the LIBOR-based, Canadian Dollar Offered Rate (CDOR) as the Canadian Securities Administrators (CSA) are urging market participants to move away from the CDOR benchmark. The CSA is “the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the… Read More >>
JPMorgan Pays $850K to Resolve FX Swaps Case
JPMorgan has reached a $850,000 settlement with the CFTC in a case involving charges that three of the investment bank’s units failed to comply with their reporting obligations as swap dealers. The CFTC order also requires JPMorgan and its swap-dealing entities to cease and desist from further violations of the Commodity Exchange Act (CEA) and… Read More >>
ICE & RIMES Weave ETF Data Into Key Products
Integration Opens Access to Equity & Fixed Income Data Exchanges and technology company Intercontinental Exchange (ICE), owner of NYSE, reports that it has integrated exchange-traded funds (ETF) data managed by RIMES into key offerings such as ICE ETF Hub, ICE Portfolio Analytics, and ICE FI Select offerings, officials say. The enhancement will enable clients to… Read More >>
SEC Updates Filing Fee Disclosure & Payment Methods
SEC Modernizes Fee Payments U.S. financial markets regulator, the SEC is revising “most fee-bearing forms, schedules, and related rules” and requiring companies and funds to “include all required information for filing fee calculation in a structured format,” officials announced. The regulator has “adopted amendments to modernize filing fee disclosure and payment methods” that will… Read More >>
M&G Outsources Middle Office to State Street
M&G Extends Current Arrangement M&G Corporate Services Ltd., a part of M&G plc, has picked State Street to provide outsourced middle office services in an arrangement that extends a 10-year partnership with M&G, officials say. M&G is already getting fund accounting and custody services from State Street. The extension will mean that State Street can… Read More >>
EBS’s EMS to Link to IHS Markit’s thinkFolio
EBSI Connectivity Slated for Q4 EBS, a provider of electronic trading platforms and IT for foreign exchange markets, will be offering connectivity between the EBS Institutional (EBSI) execution management system (EMS) and thinkFolio, a multi-asset investment management platform from vendor IHS Markit, vendor officials say. The new service is slated to be available during the… Read More >>
Goldman Sachs Joins Swaps Settlement Service
Settlement Service Run by CLS & IHS Markit Investment banking giant Goldman Sachs has joined a cross-currency swaps settlement service developed by financial data and systems vendor IHS Markit and a firm specializing in settlement CLS, officials report. With its latest member, the payment-versus-payment (PvP) settlement service has eight settlement members “live on the service,… Read More >>
