Two of the key players behind Droit Financial Technologies — Satya Pemmaraju, Ph.D., founding partner and CEO, and Brock Arnason, founding partner, head of product and strategic alliances — spoke recently with FFT News about the start of the company and how its wares can be applied to a post-trade reporting/compliance infrastructure. Q: Can you… Read More >>
KYC Joint Venture Hires from Goldman Sachs
Markit | Genpact KYC Services, the joint venture from Markit Ltd., a provider of financial information services, and Genpact Ltd, a specialist in designing and running business operations, has reported the appointment of former Goldman Sachs executive, Jon May, as CEO. May, who will join Markit | Genpact KYC Services in January 2015 and be… Read More >>
Fines, Regs Push Firms Toward Legal Entity Data
Post-crisis regulatory reforms are putting immense pressure on financial services firms to overhaul their ability to manage client and legal entity data, an area most firms had been content to ignore until recently, according to a new white paper. Conducted by market research firm Aite Group and commissioned by the DTCC, the paper outlines the… Read More >>
Global LEI Group Opens for Business
The board of the Global Legal Entity Identifier Foundation (GLEIF), established by the Financial Stability Board (FSB), has held its first meeting, marking a first step in the creation of a global LEI system, officials say. The FSB, created by G7 and G20 finance ministers and central bank governors, is meant to coordinate the work… Read More >>
Digital Magazine Summer/Fall 2013 Edition —The New Rules of Operational Data Management
Summer/Fall 2013 FTF News took on the “New Rules of Operational Data Management.” We focused on the data chores for collateral and margining for swaps, the products and services that exploit the legal entity identifier (LEI) standard, the information demands of reconciliation/exception management, the hedge fund reporting chores of Form PF, and the prospect of… Read More >>
FinTech Predictions and Battles Ahead in 2014
While overshadowed by the holidays, the season of predictions is upon us and there will be many financial technology prognostications for 2014. Overall, there are already signs that, yes, Virginia, we may have reasons to be jolly next year. If nothing else, we’ll be very busy. For starters, investment in risk management technologies, services and… Read More >>
A Halloween Treat: Interim CICIs Become Permanent
Unfortunately, I do not have a Halloween tale about an operations nightmare that would scare the bejesus out of you. Instead, there appears to be a bit of good news on the global legal entity identifier (LEI) front, which is a welcome change from the recent horrors of government shutdowns, record fines and markets fearing… Read More >>
The Promise of Corporate Actions Contradictions
At one point during FTF’s CAPCon New York conference yesterday, a panelist noted that many of the issues being raised have not substantially changed over the past 20 years. While I concede the point, my perception is that corporate actions processing has become a mix of extreme contradictions that are harbingers of real changes to… Read More >>
It’s a Long Road to Nirvana
The buy side is a long way from an operational efficiency Nirvana when it comes to over-the-counter derivatives and operational data management. A recent survey finds that 82% of 135 North American executives polled are relying on error-prone workarounds for cleared and executed OTC trading. Another survey says firms are still battling data silos and… 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 >>
