The deep recession of 2007-08 and the wave of regulatory reforms that followed have spurred a transitional period for the niche realm of securities lending operations as firms struggle to balance the competing demands of operational efficiency and organizational oversight, according to a new report from market research firm Finadium. The report, “A New Look… Read More >>
SHSC Poised to Take Off: Celent
The long-term success of the Shanghai-Hong Kong Stock Connect (SHSC), depends on knocking down the remaining barriers to entry, including “features of the program that restrict trading strategies, introduce risk and create operational complexity,” according to a white paper published by market research firm Celent and commissioned by the DTCC. SHSC is the link between the… Read More >>
ETFs Picking Up Steam: Report
With liquidity drying up in the cash market, fixed income exchange-traded funds (ETF) have emerged “as an alternative product that allows investors to navigate an increasingly difficult market environment,” according to a new report by market research firm TABB Group. As evidence, TABB cites the fact that assets under management in corporate bond ETFs have… Read More >>
Citi’s McKenna to Serve as Head of Standards for GLEIF
The Global Legal Entity Identifier Foundation (GLEIF) has appointed Karla McKenna as its new head of standards, effective immediately, officials say. McKenna, a well-known specialist in financial standards, will be responsible for “facilitating the development and implementation of GLEIF standards and leveraging international standards from organizations such as the International Organization for Standardization (ISO) to… Read More >>
HSBC to Cut Up to 13,000 Ops Jobs
HSBC will be cutting up to 13,000 operations positions as part of its massive effort to cut 50,000 employees in a major overhaul of its businesses, which bank officials detailed this week in a presentation for investors and analysts. About half, or 25,000 positions will be eliminated because of business decisions by the bank and… Read More >>
Calypso Hires for Professional Services
Treasury and capital markets solution vendor Calypso has appointed Medhi Miri as its new senior vice president of professional services, officials say. In his new role, Miri will oversee “the strategic direction of product implementation for Calypso’s clients, as well as process improvement and new service offerings,” according to a company statement. “Banks, regardless of… Read More >>
Nasdaq Launches Data Centers in Ontario
Nasdaq’s Directors Desk corporate governance offering will be expanding its presence in the Canadian market, with the opening of two new data centers in Ontario, officials say. Nasdaq expects the move will enable it “to more effectively service clients,” according to a company statement. Just like Nasdaq’s servers in the U.S. and Sweden, the Canadian… Read More >>
Deutsche Bank to Replace Co-CEOs
The Deutsche Bank supervisory board has appointed John Cryan, 54, a board member who formerly was president for Europe at Temasek, the Singaporean investment company (2012 to 2014), and chief financial officer of UBS (2008 to 2011), to the position of co-chief executive officer, effective July 1. The appointment, made at what the bank called… Read More >>
Marco Polo New World Launches FX Matching Service
Manhattan-based Marco Polo New World, which specializes in emerging and frontier markets, reports that it has spent the past year upgrading its infrastructure to create a “foundation on which to extend the breadth of its service offerings.” The first result of the infrastructure upgrade is MPFX, a “matching engine and user interface [that] allows clients… Read More >>
Fidessa Rolls Out Analytics for Derivatives
FinTech vendor Fidessa has just launched a new order analytics service for derivatives transactions, officials say. Fidessa’s Order Analytics aims to provide “greater precision to the control and measurement of derivatives [algorithms],” a company statement says. The service is fully integrated with Fidessa’s global futures and options trading platform, which will enable users to monitor… Read More >>
