The voluntary carbon credit (VCC) trading markets are still in their early days and face many operational challenges such as a reliance on too many manual steps, data collection difficulties, a high rate of bilateral transactions, and disparate technology choices when it comes to the trading and settlement of VCCs. However, over the past week,… Read More >>
Crypto Assets May Get ISINs & Other News
ANNA & DTIF Sign an MOU Two key standards bodies are paving the way for a “phased introduction” of new International Securities Identification Numbering (ISIN) tags for crypto assets — an effort that is intended to bring more transparency to securities and crypto markets. The ISINs to come would create a “mapping between financial assets… Read More >>
Exchanges & FINRA Told to Revamp NMS & Other News
SEC: Current NMS Has Too Many Conflicts of Interest Citing conflicts of interest in the current national market system (NMS), the SEC is ordering equity exchanges such as the Nasdaq Stock Market and New York Stock Exchange, and FINRA, the self-regulatory organization (SRO) for U.S. broker-dealers, to revamp and improve the governance of market data… Read More >>
Nasdaq Buys Adenza for $10.5 Billion
Nasdaq, known for its exchanges, will be securing its goal of becoming mostly a solutions provider with its just announced definitive $10.5 billion agreement to acquire Adenza — which is a combination of Calypso and AxiomSL — from private equity firm Thoma Bravo. Once authorities approve the $10.5 billion price tag, which consists of cash… Read More >>
Pershing X to Use Snowflake’s Data Cloud & Other News
Pershing X is Expanding Its Services The Pershing X technology provider and business unit of BNY Mellon reports that it hopes to bring new analytics and data management to clients via a collaboration with Snowflake, a data cloud provider. Pershing X is “expanding its stand-alone data service offerings to wealth management firms” via the Snowflake… Read More >>
UBS Australia Deploys Syn~Ops Suite & Other News
FNZ Scores Sixth Win in Australia UBS Australia and vendor FNZ report that the bank has deployed the Syn~Ops post-trade securities processing product suite across multiple asset classes in markets around the globe — the sixth Australian firm to migrate to Syn~Ops. The FNZ’s Syn~ product suite offers “real-time trade and settlements processing capabilities at… Read More >>
Nasdaq Launches a Digital Assets Business & Other News
Nasdaq Establishes a Custody Solution for Digital Assets Nasdaq reports the launch of a new business that it says will “power the digital asset ecosystem.” The new business “underpins Nasdaq’s ambition to advance and help facilitate broader institutional participation in digital assets by providing trusted and institutional-grade solutions, focused on enhanced custody, liquidity and integrity,”… Read More >>
SocGen to Revamp Derivatives Clearing & Other News
Société Générale to Deploy FIS Solution Société Générale and systems and services provider FIS report that the French banking giant will be using the FIS Cleared Derivatives Suite for a “strategic transformation of its derivatives clearing back-office.” “As part of the agreement, the investment bank and financial services group will transition their existing derivatives… Read More >>
GSAM Buys a Robo-Advisor & Other News
GSAM to Use NextCapital for Defined Contribution Foray Goldman Sachs Asset Management (GSAM) is acquiring Chicago-based robo-advisor NextCapital Group to hasten the development of Goldman Sachs’ offerings for the defined contribution market via personalized managed accounts and digital advice, officials say. The transaction is slated to close during the second half of this year, depending… Read More >>
DTCC Launches Repo Markets Service & Other News
DTCC Treasury Kinetics Takes On Repo Market Transparency Post-trade infrastructure and systems provider DTCC is launching a service for accessing U.S. treasury transaction data, called DTCC Treasury Kinetics, which is intended to increase transparency into the repurchase agreement (repo) market, officials say. The DTCC Treasury Kinetics was crafted to deliver “comprehensive views of the repo markets… Read More >>
