Financial Technologies Forum (FTF) has just announced the winners in its awards competition for post-trade securities operations, which turned out to include a nod to the emerging technology of blockchain/distributed ledger technology (DLT). Approved industry participants and a not a panel of judges selected the winners for the 2017 FTF News Technology Innovation Awards, reports… Read More >>
BrokerTec Europe Acquires Italian CLOB Platform
BrokerTec Takes Majority Stake in e-MID Officials at BrokerTec Europe, NEX Group’s global electronic fixed income trading platform, say the firm is acquiring a majority stake in e-MID SIM SpA (e-MID), acquiring the Italian electronic central limit order book (CLOB) platform for interbank deposits and overnight indexed swaps (OIS). The acquisition, which was just approved… Read More >>
Can a Blockchain Manage Credit Derivatives?
(Post-trade infrastructure systems provider DTCC recently announced that it will be replacing the legacy technology of its Trade Information Warehouse (TIW) with blockchain/distributed ledger technology (DLT). This will be done via the technology and support from IBM, Axoni and R3. The TIW service automates the record-keeping, lifecycle events, and payment management for more than $11… Read More >>
MiFID II Unbundling May Hit Brokers Globally: Survey
When MiFID II, the updated Markets in Financial Instruments Directive, comes into effect in less than a year, on January 3, 2018, it will require asset managers who do business in the European Union to unbundle — that is, to separate — their trading commissions from charges for investment research. “While the majority of asset… Read More >>
IHS Markit Gets Into the FRTB Game
IHS Markit, a data, analytics and solutions vendor, has released a data aggregation and analytics engine, dubbed Markit FRTB Studio, intended to help firms meet capital requirements specified by the forthcoming fundamental review of trading book (FRTB) process, courtesy of the Basel Committee on Banking Supervision (BCBS). Most industry observers see the FRTB requirements as… Read More >>
JPMorgan Services Fannie Mae’s MBS Holdings
JPMorgan Provides Trade Processing, Settlement and Recs Services Investment banking giant JPMorgan is supporting Fannie Mae’s mortgage-backed securities (MBS) holdings via the firm’s custody and fund services platform, bank officials say. JPMorgan officials say the bank has “successfully transitioned” for safe-keeping and settlement services for collateral backing Fannie Mae-issued MBS held in their Collateral Trust… Read More >>
Blockchain Project Tests Post-Trade Ops for Swaps
Barclays, Citi, Credit Suisse and JPMorgan with the help of Axoni and other vendors have been successfully testing since June post-trade processes based on blockchain/distributed ledger technologies and smart contracts that support over-the-counter (OTC) equity swaps. “Industry collaboration is key in driving blockchain innovation and Barclays is keen to remain at the forefront of this,”… Read More >>
Cordium Hires to Bolster Cybersecurity, Broker-Dealer Services
Cordium Taps PWC and FINRA Cordium, a provider of governance, risk and compliance services, has appointed Michael Corcione managing director of its cybersecurity and data protection consulting services. Corcione joins from PricewaterhouseCoopers, where he was a director in the cybersecurity, privacy, and financial crimes unit, with a focus on asset management and alternative investment firms…. Read More >>
ICE Clear Credit Hits $1B Mark for Single CDS
The Intercontinental Exchange (ICE), owner of the New York Stock Exchange, other exchanges and clearinghouses, announced that ICE Clear Credit has surpassed $100 billion year to date in gross notional cleared for client accounts for single name credit default swaps (CDS), officials say. This marks a 200 percent increase over 2015. The ICE Clear Credit… Read More >>
Markit to Merge with IHS to Create $13B Behemoth
IHS, a provider of information and analytics to corporate America, and Markit, a market data and trading solutions vendor based in the U.K., have signed a definitive agreement that will combine the two in an all-share merger of equals to create an $13 billion provider of market data, analytics and solutions, say officials from both… Read More >>
