The CFTC has approved for public comment a proposed rulemaking that could ease swaps reporting requirements for some counterparties, officials say. The proposed rule would reduce reporting and record-keeping requirements for “trade option counterparties that are neither swap dealers nor major swap participants (Non-SD/MSPs), including commercial end-users that transact in trade options in connection with… Read More >>
Ex-CIBC COO Becomes GRI President & CEO
The Toronto-based Global Risk Institute in Financial Services (GRI) has a new president and CEO Richard Nesbitt as of today, an appointment that follows Dr. Michel Maila’s decision to retire from those positions after three years’ service, officials say. Until September of last year, Nesbitt was chief operating officer at Canadian bank CIBC until he… Read More >>
Bernanke Named Pimco Senior Advisor
The Pacific Investment Management Co., the investment management firm also known as Pimco, reports that Ben Bernanke, former chairman of the Federal Reserve, will serve as a senior advisor to the firm. It’s the second reported consulting arrangement in recent days for the man who led the Fed through the Great Recession. Bernanke also signed… Read More >>
EU’s T+2 Move Exposes LEI, Regulatory Challenges
Most industry observers say the initial move to a shorter, trade date plus two business days (T+2) settlement cycle went smoothly in Europe last year and a recent survey by post-trade systems and services provider Omgeo mostly confirms this assessment. However, the report also finds that more progress is needed for the wider usage of… Read More >>
Q&A: ‘The PDF Report is Dead for Private Equity’
Editor’s Note: FTF News spoke this week with Brendan Tyne, managing director, New York, of Augentius (U.S.) Inc., a private equity fund administrator, about the changing operational data demands of the private equity business. The new data demands are causing Tyne to declare that the era of the PDF is dead. Q: How certain are… Read More >>
Survey: Asian Firms Need More IT for Wealth Management
SS&C Technologies Holdings, Inc., a Windsor, Conn.-headquartered provider of financial services software and software-enabled services, reports that a survey examining wealth management operations and technology in Asia has found that “banks in Asia do not have the technology to meet high net worth customers’ reporting and analytics demands,” according to an SS&C statement. Specifically, the… Read More >>
Lombard Risk Spotlights Colline Wins
London, England-based Lombard Risk Management, a provider of integrated collateral management, regulatory compliance and reporting solutions for the financial services industry, reports that its collateral management, clearing, inventory management and optimisation solution — called Colline — has tallied a “significant number of sales and ‘go-lives’ in the past few months.” Specifically, Lombard Risk notes that… Read More >>
Goldman Sachs Invests $20.5M in Managed Services Vendor
Investment banking giant Goldman Sachs has invested $20.5 million into Perseus, a managed services provider of high-speed connectivity, giving the firm a minority stake in the vendor’s “rapidly growing global technology business,” according to a Perseus statement. The investment will help Perseus to “accelerate expansion of its global managed services network,” the report says. Founded… Read More >>
SmartStream Updates Exception Management Offering
Reconciliations vendor SmartStream has added several enterprise-wide capabilities to the latest release of its TLM Exception Management solution, officials say. The new version includes new features to ease the managing of processes, provide step-by-step operations capabilities and alert functionality across the front-to-back-office. The new functionality is already in use within SmartStream’s Reference Data Utility (RDU),… Read More >>
SmartStream Hires from MSCI
SmartStream Technologies, the financial transaction lifecycle management specialist, reports that Daniel Pedersen has been named to head sales and business development in Europe. He will report to SmartStream CEO Philippe Chambadal. Prior to joining SmartStream, Pedersen, a veteran with more than 20 years in financial services, worked for four years at RiskMetrics, “where he held… Read More >>
