Buy-side firms and vendors in the U.S. are exploring extensions of the FIX protocol to post-trade processes. But stretching FIX in this way will stir up battles over standard and proprietary protocols and whether post-trade processing should be done locally among firms or through a centralized matching system. The outcome of these battles may determine… Read More >>
Marianne Brown to continue as head of Omgeo as the DTCC buys out Thomson Reuters
Marianne Brown will stay on as president of Omgeo as the DTCC buys out Thomson Reuters Marianne Brown will continue to serve as president and CEO for Omgeo as the DTCC begins its acquisition of the other half of the post-trade services provider from market data and news giant Thomson Reuters, ending a 50-50 partnership… Read More >>
NYSE to Administer LIBOR as Ageon Goes Global with Markit EDM
NYSE Euronext Hopes to Redeem LIBOR A subsidiary of NYSE Euronext — the NYSE Euronext Rate Administration — will be the new administrator for the London Interbank Offered Rate or LIBOR and exchange officials are hoping they can redeem the reputation of the interest rate benchmark, tarnished by scandal.LIBOR reference rates are used for short-term… Read More >>
Omgeo Replaces its CCO as Markit Acquires DTCC Unit and Staff
Omgeo Replaces Chief Compliance Officer Post-trade services provider Omgeo has hired industry veteran Jeannie Shanahan to be its new managing director of governance, risk management and compliance replacing Kara L. Hill, who left her post as chief compliance officer to be vice president and deputy general auditor for the DTCC, confirm Omgeo officials. Hill joined… Read More >>
Omgeo Adds LEI Support as Smarsh, Nasdaq and Protegent Advance Social Media Surveillance
Omgeo Adds LEI Support to Alerts Via Avox Post-trade services provider Omgeo now has support for the global Legal Entity Identifier (LEI) initiative via additional entity- and fund-level fields and data as part of its Alerts web-based global database for account and standing settlement instructions (SSI), officials say.The new LEI support comes via Omgeo’s partnership… Read More >>
FTF News Announces Winners of the 2013 Technology Innovation Awards
Topping the list of winners in this year’s FTF News Technology Innovation Awards are Tim Lind, global head of middle office and entity for Thomson Reuters, chosen as the FinTech Innovator of the Year, and Ludwig D’Angelo, executive director, J.P. Morgan Worldwide Securities Services, named as the Ops Business Person of the Year. SmartStream Technologies… Read More >>
OTC Collateral Reforms to Cost the Industry $53B as Capital Dynamics Details New Fund Management Platform
Celent Report: Price Tag for OTC Collateral Management Reform to Hit $53 Billion As derivatives clearing and collateralization reforms get underway, the financial services industry will spend more than $53 billion in infrastructure and technology investments to make their systems more operationally efficient, according to a new report from market research firm Celent.“We expect it… Read More >>
Case Study: PT Schroders Bids Farewell to Manual Confirmations
PT Schroder Investment Management Indonesia (PT Schroders) is using the Omgeo Central Trade Manager (CTM) to mitigate the operational risk caused by manual processes, says Veronica Low, PT Schroders’ head of portfolio services in Asia-Pacific.The CTM deployment facilitates the transmission of international and domestic trade details between the investment manager and broker/dealers. Jakarta-based PT Schroders,… Read More >>
Mary Schapiro Goes Private as Barclays Bolsters its Cash Management Team
Mary Schapiro Crosses the Aisle to Join Promontory Mary Schapiro, the former chairman of the SEC, has crossed the aisle to the private sector and joined consultancy Promontory Financial Group as managing director and chairman of the governance and markets practice, say officials.The Washington, D.C.-based Promontory, which offers strategy, risk management, regulatory, and compliance consulting,… 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 >>
