The International Securities Association for Institutional Trade Communication (ISITC), the industry trade group focused on standards in transaction processing and related communications, has appointed co-chairs for its recently launched middle-office working group. The group’s newly appointed co-chairs are: Kerry Coleman, operations manager at asset manager GMO; Altaf Hossine, project manager at The Boston Company Asset… Read More >>
Despite SIFMA, T+2 in the U.S. Faces Obstacles
Citing systemic risk mitigation, securities industry trade group SIFMA is throwing its support behind a move to shorten the settlement cycle for U.S equities, corporate bonds and municipal bonds. But there will be stones in the road to tighter settlement times. Currently, the U.S. settles transactions from trade date plus three days (T+3); SIFMA and… Read More >>
SWIFT Acquires Crime Fighters as Newedge Fills Execution Post
SWIFT Acquires Omnicision, Adds Financial Crime Team A new group of financial crime fighters has joined the SWIFT financial messaging and services consortium via the acquisition of Omnicision, the UK-based provider of financial crime prevention services and solutions. The new crime fighters from Omnicision bring specialist skills in such areas as sanctions, anti-money laundering rules… Read More >>
Behind the Scenes at the ISITC Show
So, my dear readers, you may be wondering what happened behind the scenes at the ISITC event earlier this week in Boston. Let me tell you. First, I was looking forward to the keynote speech by Carla Harris, vice chairman, global wealth management, managing director and senior client advisor at Morgan Stanley. I had heard… Read More >>
Breaking News Update: ISITC Eases Ban on Press
An industry trade group that advocates transparency, ISITC initially banned and then let media attend a keynote address by Carla Harris, vice chairman, global wealth management, managing director and senior client advisor at Morgan Stanley, who spoke Monday morning. Her speech, however, was still off the record. Focused on developing industry standards, the International Securities… Read More >>
Q&A: New ISITC Chair Sets Priorities
Jeffrey T. Zoller, ISITC’s new chair, is setting priorities for the industry trade group devoted to standards for transaction processing and related communications. Zoller, a vice president at T. Rowe Price, has been a member of ISITC since 2005 and has served on the ISITC North America board of directors for six years. He has… Read More >>
SunGard Financial Systems Hires Marianne Brown as ISITC Has a New Chair
SunGard Financial Systems Hires Marianne Brown as COO SunGard has cleared up the mystery over the next move for Marianne Brown, who is stepping down from her post as president and CEO of Omgeo. Brown will become the next chief operating officer (COO) of SunGard’s Financial Systems business on Feb. 24, officials say. Brown, who… Read More >>
FSB Reports Progress on OTC Reform as SWIFT Debuts BIC-to-LEI Mapping
FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
Tearing Down the Culture of Secrecy
I had a mini-revelation about the financial services industry and its ongoing melodrama over transparency and data standards during a panel discussion at the19th ISITC Annual Industry Forum and Vendor Show in Boston this week. Essentially, is this industry doomed to never getting transparency right? My train of thought was sparked by economist Allan Mendelowitz,… Read More >>
Forging IT Leadership in the Regulation Decade
A keynote speaker for the19th ISITC Annual Industry Forum and Vendor Show in Boston this week focused on the industry trade group’s raison d’être when he urged those in attendance to take on the “big challenges” such as driving a consensus to make standards reality such as the push for wider usage of ISO 20022-based… Read More >>
