SWIFT is strongly urging that the industry adopt Unique Transaction Identifiers (UTIs) as a way to bring more transparency to post-trade processing. The new UTI support would come via the SWIFT Securities View capability, which has had a successful pilot test, dubbed the “SWIFT Securities Tracking Pilot,” according to officials of the financial messaging, systems,… Read More >>
Nasdaq Overhauls Its Corporate Structure & Other News
Nasdaq Sets Up Three New Divisions Nasdaq has announced that it is reorganizing its business units into three divisions that better reflect “the foundational shifts” of the global financial system and will help the exchanges company better serve client needs. The three new business divisions are Market Platforms, Capital Access Platforms, and Anti-Financial Crime, officials… Read More >>
Broadridge Links NYFIX to Coinbase Prime & Other News
Broadridge & Coinbase Target Buy-Side Firms Broadridge Financial Solutions is partnering with crypto exchange Coinbase to provide an integrated solution that enables NYFIX clients to route order flow to Coinbase Prime via the FIX protocol for electronic trading, officials say. The partnership will also allow “buy-side traders to source crypto liquidity from Coinbase and trade… Read More >>
TMX Group Adopts Fixed Income Analytics & Other News
TMX Group & Overbond Form Partnership TMX Group, an operator of exchanges and global markets such as the Toronto Stock Exchange, reports that it’s integrating CDS FIPS settlement-layer Canadian bond data with fixed income AI analytics and trade automation solutions from vendor Overbond. The integration should make bond liquidity scoring and best executable pricing more… Read More >>
Prime Trading Taps Iress to Cut Data Latency
Proprietary trading firm Prime Trading has implemented solutions from Iress — formerly QuantHouse — to access key data feeds and transaction support services via application programming interface (API) links that boost data quality, cut data latency, and bring down costs, officials say. “Previously, during peak moments of high market volatility, Prime Trading experienced data latency… Read More >>
Crypto’s Winter Eases Some Related Crime Levels: Report
Cryptocurrency markets have been having a tough time. Bitcoin, the best known coin in the crypto piggy bank, traded at an all-time high of over $65,000 per coin November 2021, according to data compiled by Statista. But that was then. Earlier this month, Celsius Network, a crypto “bank,” filed for bankruptcy after its customers lost an… Read More >>
Davy Capital Markets Taps Torstone & Other News
Davy Capital Markets to Revamp Post-Trade Ops Dublin-based wealth manager Davy Capital Markets reports that it has become a Torstone Technology customer and will use the Torstone Platform to evolve its post-trade processing operations. “We have built and maintained our own post-trade platform for many years, and this has served us very well, as it… Read More >>
FCA Fines Citi Brokerage $15M for Surveillance Woes
A U.K. regulator, the Financial Conduct Authority (FCA), has imposed a fine of $14.8 million (£12,553,800) upon Citigroup’s international broker-dealer subsidiary for breaches of the Market Abuse Regulation (MAR), a law that requires firms to monitor orders and trades to detect potential market manipulation. The FCA charged the London-based Citigroup Global Markets Ltd. (CGML) with… Read More >>
Form PF Gets an Overhaul via the SEC & CFTC
Form PF is experiencing growing pains after its first decade. Those firms that are required to use Form PF to report confidential information on private funds will be providing many more details if key amendments are ultimately adopted by both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) The new… Read More >>
Buy-Side Demand for Analytics Is Surging: Q&A
(FTF News recently reached out to Abhik Pal, a senior director and global head of research practice at CRISIL Global Research and Risk Solutions, about the buy side’s needs for data analytics. Pal is one of the co-authors of a new report, “Unlocking Value in Data and Analytics,” that urges sell-side firms to adopt a… Read More >>
