A former pillar of Wall Street, once celebrated for his financial acumen, died in prison six months ago. Meanwhile, restitution to victims of his epic fraud continues on. Savvy FTF News readers will know that Bernard L. Madoff’s fall is a cautionary tale, still eminently relevant. In June 2009, the infamous Ponzi schemer, and the… Read More >>
Nasdaq Bolsters Its Crime-Fighting Line-Up
Nasdaq Inc. is acquiring Verafin, based in Canada, and its set of related “anti-financial crime management products.” These related products use “data analytics, machine learning, and visualization and investigation tools.” The Nasdaq platform itself is widely known as the first electronic exchange, and the goal of this acquisition, according to a statement, is to deploy… Read More >>
Nasdaq & Caspian Take On Automated AML Investigations
Nasdaq Sytem Targets Gap in AML Inquiries Nasdaq just launched a “cloud-deployed” anti-money laundering (AML) system, the Nasdaq Automated Investigator for AML, that is intended to help financial services firms use IT to detect evidence of money laundering. The new system has been designed in partnership with Caspian, a company based in Newcastle upon Tyne,… Read More >>
Members Exchange Wins SEC’s & BlackRock’s Approval
A securities exchange start-up, the Members Exchange (MEMX), is on a roll via new strategic financing led by asset manager BlackRock, following a key approval by the SEC. While the launch of its first transaction venue was delayed by the COVID-19 pandemic, MEMX officials want their venue to get underway during the third quarter of… Read More >>
SEC & Exchanges Clash Over Market Data Order
U.S. equities exchanges are pushing back on the SEC’s sweeping order directing them and the Financial Industry Regulatory Authority (FINRA) to improve the governance structure for public, consolidated equity market data and the distribution of trade and quote data from trading venues. The order is intended to change the balance of power among trading venues… Read More >>
Nasdaq Data Now Available via Cloud Service
Exchanges operator Nasdaq recently hit a COVID-19 speed bump as it was preparing to launch its Nasdaq Cloud Data Service (NCDS), which uses application programming interfaces (APIs) to provide access to real-time exchange data, indexes, and fund data. Before a full launch, Nasdaq had to find out if the implementation of the new offering would… Read More >>
Traiana Aims Post-Trade Service at Equity Swaps
Traiana Targets Ops Efficiency & Settlement Risk A service to automate key post-trade stages of equity swaps processing has been launched by Traiana, an infrastructure solutions provider for trading and risk management. The vendor wants to automate “manual, labor intensive and inefficient” post-trade affirmation, officials say. The new Equity Swaps Lifecycle Management offering “normalizes data… Read More >>
Goldman Sachs Acquires United Capital for $750 Million
Goldman Sachs Jolts Wealth Management Strategy Goldman Sachs Group is acquiring United Capital Financial Partners, Inc. for $750 million in cash as a way to broaden the reach of the Wall Street giant’s intellectual capital and investment capabilities, officials say. The transaction is expected to close during the third quarter of this year, subject to… Read More >>
GLEIF & ANNA Launch ISIN-to-LEI Mapping Effort
ANNA & GLEIF Join Forces for Regulatory Reporting An initiative is underway that will link International Securities Identification Numbers (ISINs) to Legal Entity Identifiers (LEIs) for global financial services transactions. The Association of National Numbering Agencies (ANNA) and the Global Legal Entity Identifier Foundation (GLEIF) have announced that April 4, 2019 marks the start of… Read More >>
Deutsche Bank Slates Single-Dealer Platform for U.S.
Deutsche Bank Securities Inc. will be using the market technology infrastructure offerings of Nasdaq to build its forthcoming, U.S.-based single-dealer platform, which Nasdaq will host, officials say. The single-dealer platform (SDP) usually consists of software applied by an investment bank to capital markets “to deliver trading and associated services via the web,” according to Wikipedia…. Read More >>
