Today’s top headlines are about deadly shooting wars — in Israel, in Ukraine, and in far too many other places on the map. What will happen next is not known. But for financial services firms, the question of the day (and perhaps of the decade) is this: How do you secure the financial services industry,… Read More >>
T+1 Will Initially Mean More Settlement Fails: Q&A
(FTF News recently got time with Robert Walley, principal, financial services at consultancy Deloitte, to discuss the securities industry’s move to a shorter settlement cycle of trading day plus another day, a.k.a. T+1, which is underway in North America. Walley leads Deloitte’s capital markets and global financial markets industry sectors. He helps clients with transformations… Read More >>
Financial Crime Fighting’s Price Tag Hits $206B
Financial crimes cost banks and other financial services institutions big bucks. This means that complying with the rules and processes meant to deter those financial crimes costs big bucks too. Makes sense, right? Now, thanks to our friends at LexisNexis and Forrester Research, we have a snapshot of the actual numbers. According to the report “True Cost… Read More >>
Consultancy Issues Alert About QR Code Phishing
“What happened?” North Carolina-based Fairview asks about the “uptick” in phishing reported by its clients. Of course, it’s a rhetorical question. But there’s nothing rhetorical about the impact of an answer on the financial services industry. Fairview Investment Services is a consultancy, based in Raleigh, that offers support for investment advisers and other financial institutions… Read More >>
Broadridge Explores Advancing Ops via Artificial Intelligence
Broadridge Financial Services is exploring how artificial intelligence technologies combined with the provider’s logical data model BRx can be applied to capital markets, including front-to-back-office applications across asset classes. The proof-of-concept (POC) effort has only been underway for the past three weeks, says Hugh Daly, general manager, data and enterprise solutions, at Broadridge. Daly told FTF News about the… Read More >>
SWIFT Warms to Tokenized Assets After Industry Tests
SWIFT is warming up to the concept of being able to transfer tokenized assets from its infrastructure to multiple public and private blockchains. This follows the positive results that the global financial messaging cooperative experienced after conducting a series of experiments that tested the SWIFT infrastructure via the transfer of tokenized assets, according to an… Read More >>
CME & DTCC Ready Cross-Margining Offering & Other News
SEC & CFTC Approve Joint Effort for Treasuries & Futures The SEC and CFTC have approved a new cross-margining arrangement between CME Group and the DTCC that will “permit eligible clearing members of CME and the Government Securities Division (GSD) of DTCC’s Fixed Income Clearing Corp. (FICC) to cross-margin an expanded suite of products,”… Read More >>
FBI, FINRA Alert Firms About Email Cyberattacks
A recent alert from the U.S. Federal Bureau of Investigation (FBI) warns financial services firms using Barracuda Email Security Gateway (ESG) Appliances, even those with “up-to-date security patches,” that they “remain at risk for continued computer network compromise from threat actors exploiting a zero-day vulnerability.” The FBI’s alert also referred to “suspected PRC Cyber Actors,”… 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 >>
SS&C Buys MFA Business from Iress & Other News
Acquisition to Help SS&C’s Transfer Agent Business Iress, a trading software and services provider, is selling its managed funds administration (MFA) business to SS&C Technologies, which will use the acquisition to strengthen its position as a transfer agent in Australia, officials say. Iress is based in Melbourne, Australia. “The MFA business [from Iress] is… Read More >>
