Financial messaging and data integration vendor Volante Technologies has upgraded its Volante Designer solution, a messaging integration platform, to help firms respond to the ongoing challenge of accommodating multiple types of messaging, industry protocols and Open Source initiatives. The latest release, Volante Designer 5.1, features support for extract, transform and load (ETL) functions to process… Read More >>
BNY Mellon Pays $714M to Settle FX-Related Woes
The Bank of New York Mellon Corp. (BNY Mellon) has agreed to pay a total of $714 million to resolve “substantially all of the foreign exchange (FX)-related actions currently pending against the company,” say BNY officials. The settlements with the U.S. Department of Justice (DOJ), the New York Attorney General (NYAG), the U.S. Department of… Read More >>
Linedata Updates Admin Edge Platform
Linedata, a provider of solutions for the investment management and credit industries, reports “significant updates” to Admin Edge, its fund administrator platform, officials say. The updates are in three key areas, the New York City-based vendor says. “Firstly, there is improved integration and automation of data flows between the fund accounting and transfer agency areas,”… Read More >>
DTCC’s Client Data Hub Live at Five Top Banks
Barclays, Credit Suisse, Goldman Sachs, JPMorganChase and State Street are using the Clarient Entity Hub, a client onboarding and data management solution made by Clarient Global, a new DTCC company, officials say. The service helps firms “store, maintain and distribute data and documentation to relevant counterparties, service providers and regulators in order to comply with… Read More >>
LMAX Exchange Unveils Prime Brokerage Service
LMAX Exchange, a U.K.-based Multilateral Trading Facility (MTF) for global foreign exchange (FX), has launched a new prime brokerage service, LMAX Prime, according to a company statement. The new service will act as a “prime of prime” service, to “provide retail brokers, hedge funds and asset managers with credit intermediation and bespoke liquidity arrangements with… Read More >>
Regulatory Compliance Tops List of Ops Burdens
A white paper from financial messaging and systems cooperative SWIFT finds that regulatory concerns tower over other operational challenges for the buy side in 2015. Research commissioned by SWIFT also shows that buy-side firms are grappling with automation and financial crime compliance initiatives. The findings came as a result of survey and are offered via… Read More >>
Ex-Deriv/Serv CEO to Join GMEX Boards
Sandy Broderick has been appointed as a non-executive director to the boards of GMEX Technologies Ltd.; Global Markets Exchange Group Ltd. (GMEX) which operates GMEX Exchange; and Global Derivatives Indices Ltd. (GDI), officials say. Broderick will also serve as chairman of GMEX. Broderick most recently served as CEO of DTCC’s Deriv/Serv, capping 25 years of… Read More >>
ICE Futures Hit with $3M Penalty for Trade Reporting Errors
Derivatives marketplace ICE Futures U.S. has been slapped with a $3 million civil monetary penalty by the CFTC over repeated failures to comply with trade reporting requirements over a 20-month period, officials say. ICE Futures U.S. is a futures and options exchange for agricultural, energy and financial contracts. It is part of the Intercontinental Exchange… Read More >>
Fed Wants LEIs for Certain Reporting Forms
The Federal Reserve Board on Monday, March 16, proposed that banking organizations be required to include their existing Legal Entity Identifiers (LEIs) on certain regulatory reporting forms, officials say. The LEI standard is a 20-character alphanumeric code that is universal and uniquely corresponds to a single legal entity. The LEI reference code enables easier identification… Read More >>
Cryptocurrencies Gain Ground Amid Real Money
The world of cryptocurrencies is an alternate yet visible reality that is gaining ground slowly but surely amid the established Matrix of supposedly real money. To recap, the main digital/cryptocurrency is the non-political online Bitcoin “backed exclusively by code,” according to the Bitcoin Foundation website. “This means that — ultimately — it is only as… Read More >>
