Electra Information Systems, a maker of reconciliation and other post-trade solutions, is launching a unified application programming interface (API) service for new and existing customers to help them ease into complex API strategies facilitating data access among applications and systems. The Electra unified API is intended as a single connection to help IT staffs at… Read More >>
Northern Trust to Help Launch Crypto Custody Service
Standard Chartered’s VC Unit Partners with Northern Trust Standard Chartered via SC Ventures and custodian Northern Trust are launching an “institutional-grade” custody solution for cryptocurrencies to help financial services firms invest in cryptocurrency-based assets, officials say. The custodian support is in response to the growing demand for cryptocurrency-based assets that will need support for transaction… Read More >>
Key Regulators Issue USD LIBOR Warning
Authorities: Steer Clear of USD LIBOR Key industry regulators are warning financial services firms not to use U.S. dollar (USD) LIBOR as a reference rate after Dec. 31, 2021 to avoid “consumer protection, litigation, and reputation risks.” The Nov. 30 statement, which underscores the need for firms to move away from the London Inter-bank Offered… Read More >>
Layoffs Are Key to ABN Amro’s Digital Transformation
Dutch banking giant ABN Amro will begin a two-year staff trimming process that will reduce its global workforce by 15 percent — a key part of an $840 million streamlining said to be essential to its digital transformation, according to an announcement on Nov. 30. Media outlets and financial markets analysts have estimated that the… Read More >>
FTF’s SecOps Online Takes Off!
The pandemic-induced lockdown has challenged all of us to alter our plans and create new ways of doing business. For FTF, we are evolving and inventing new ways to serve and grow our network of securities professionals that we have developed over the past 14 years. The good news is that we are trying something… Read More >>
Multiple Shocks Are Driving Up Op Risks: OCC
The banking system is under stress on multiple fronts. Stress from the pandemic. Stress from a defeated presidential candidate and his coterie of enablers, denying the results of the recent election, fomenting rancor and unrest and deepening the country’s ideological divide, all the while insisting that “we are rounding the turn,” even as coronavirus cases… Read More >>
CFTC Offers a Rewards System for Cooperation
The CFTC’s Division of Enforcement (DOE) is spelling out what it means when it says that a firm has been cooperative via an enforcement investigation. The goal is to let the public get a better view into how a firm maximized cooperation and minimized painful penalties. The clarity comes from a new guidance that the… Read More >>
Firms Should Fund Ops Despite Fee Woes: Q&A
(FTF News recently got time to talk with David Campbell, vice president, strategy and business development — message automation for Broadridge Financial Solutions, about the company’s win via the 2020 FTF News Technology Innovation Awards. The systems and services provider to Wall Street firms got the most votes to win the honor of Best RegTech… Read More >>
CRM Systems Are a Necessity Now: Q&A
(Client relationship management (CRM) systems have become a necessity as more financial services firms continue to function with staff and clients working remotely due to the pandemic-induced office closings. So says Jiro Okochi, president of Tier1 Financial Solutions, whose offerings serve firms in the capital markets and banking arenas. The pandemic conditions underscore the need… Read More >>
Why Did the Tokyo Stock Exchange Halt Trading?
In a bid to honor the fading art of the follow-up story, I have been rooting around to find out what has happened to the Tokyo Stock Exchange (TSE) since its systems outage earlier this month. To remind you, the TSE had an unprecedented halt to trading for a full day on Oct. 1, but… Read More >>
