GoldenSource, a provider of enterprise data management (EDM) solutions for the securities and investment industry, reports the integration of its EDM platform with Avox Ltd.’s Web-based application programming interfaces (APIs). Avox, which provides Legal Entity Identifier (LEI) standard reference data, recently launched a series of Web-based APIs for LEIs, legal names, addresses, industry classifications and… Read More >>
FTF Panel: U.S. Markets Should Move to T+0
A panelist at FTF’s ReCon New York event on Thursday is calling for the U.S. securities industry to move to a T+0 settlement cycle rather than the incremental move to T+2, citing the truism that nothing good happens between trade date and settlement. That’s a phrase heard often from operations managers, and it was heard… Read More >>
European Firms Weather T+2 Storm
The sun came up and the world was still standing after European firms made the switch from a settlement cycle of trade day plus three days (T+3) to trade plus two days (T+2) — something that had once seemed impossible to some. For many firms, the transition went off without a hitch. Other firms have… Read More >>
GBST Now Certified for Omgeo CTM
GBST Holdings Ltd. (GBST), a provider of securities transaction and fund administration software for the financial services industry, reports that it and Omgeo, a wholly owned subsidiary of The DTCC, have developed and certified a new iteration of GBST’s Syn~ application that features connectivity with Omgeo’s Central Trade Manager (CTM). The new application provides clients… Read More >>
Celent Survey: Asia Pacific Not Ready for T+2
By and large, financial firms in the Asia Pacific region are not yet prepared to follow in Europe’s footsteps as the October 6 mandatory shortening of the settlement cycle from trade plus three days (T+3) to trade plus two days (T+2) goes into effect. That is the gist of a study published by market research… Read More >>
Can the U.S. Catch up to Europe in the T+2 Race?
What if the FIX electronic trading protocol gains ground in Europe as a unifying link for trade affirmations between the front and middle offices as Steve Grob, director of group strategy for the Fidessa Group, the subject of a Q&A for FTF News this week is suggesting? If he’s right, could Europe outpace the U.S…. Read More >>
Could FIX Help Firms Avoid Fines for Slow Settlement?
(Editor’s Note: Using the FIX electronic trading protocol for trade affirmations could ease some of the burdens of shortened settlement cycles, and may prevent fines for European firms facing new requirements for faster settlement, says Steve Grob, director of group strategy for London-based electronic trading platform and services vendor Fidessa Group. Over the past year,… Read More >>
Omgeo & LSE Partner for Tri-Party Solution
Omgeo, a provider of institutional post-trade services, has partnered with the London Stock Exchange Group (LSEG) to connect the LSEG’s UnaVista service with Omgeo’s Central Trade Manager (CTM), a move that will support tri-party matching of synthetic equity swaps among executing brokers, prime brokers and investment managers, according to an Omgeo statement. UnaVista is a… Read More >>
U.S. Stuck in a Rut on T+2
A busy man, Tony Freeman, the London-based executive director of industry relations for post-trade systems and services provider Omgeo, says that the main barriers to shortening the settlement cycle to T+2 are “about behavioral issues” because “people have gotten used to working in a certain way.” Omgeo’s parent company, the DTCC, has been building support… Read More >>
ProtoColl Supports EMIR Reporting
Just in time for new collateral reporting requirements in Europe, post-trade services vendor Omgeo is offering an interface between its automated collateral and margin management solution, ProtoColl, and the DTCC’s Global Trade Repository (GTR) for derivatives. ProtoColl clients can use the new interface to meet the upcoming European Market Infrastructure Regulation (EMIR) requirement for collateral… Read More >>
