SNS Bank, the fourth largest Dutch bank, will integrate SunGard’s market and credit risk functionality into its existing SunGard treasury platform, with the aim of creating a centralized operational framework for credit and market risk management, officials say. “An integral part of its strategy to modernize risk capabilities in these areas, this will help SNS… Read More >>
SmartStream Acquires Collateral Solution from IBM
SmartStream Technologies, which characterizes itself as a financial transaction lifecycle management solutions provider, reports that it has acquired “assets related to software, sales and support of IBM’s Algorithmics collateral solution,” officials say. SmartStream officials add that its move is “a strategic deal to enhance SmartStream’s existing suite of solutions” for the end-to-end post trade lifecycle…. Read More >>
Liquid Releases Mobile Portfolio Analysis App
Cloud-based solutions vendor Liquid Holdings has introduced LiquidMobile, a web-based app that allows hedge funds to manage their portfolio and conduct risk analysis and reporting across multiple funds on a mobile device in real time, officials say. LiquidMobile runs on both desktop and mobile devices, and allows fund managers to interact with historical, real-time, and… Read More >>
Back-Office Records Up in Flames?
A seven-alarm fire still smoldering in a waterfront storage warehouse in Brooklyn may have more bad news for its customers, particularly those financial services firms that used the services of CitiStorage to keep records safe from harm. The company and public safety officials have yet to determine the cause of a paper-based fire that started… Read More >>
Calypso Readies Initial Margin Calculation Offering
San Francisco-based Calypso Technology, a specialist in capital markets software, reports that it will be releasing a “new solution for calculating the initial margin required on non-cleared derivatives trades,” officials say. The solution will meet the requirements of the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) for margin… Read More >>
Misys Partners with Targit
Central European financial consultancy Targit GmBH has joined financial software vendor Misys’ InFusion Partner Program, officials say. In a move that should serve as a capstone to “consulting, systems integration and project management support,” Targit has worked with Misys to provide clients in the Germany-Austria-Switzerland region for several years now, officials say. Under the new… Read More >>
Scivantage Adds Two EVPs
FinTech vendor Scivantage has appointed Amit Basu as executive vice president (EVP) for professional services and delivery, and Alex Sauickie as EVP for business and technology operations, officials say. The move comes as Scivantage nears its 15th anniversary. “This is a milestone year for Scivantage, and we are committed to improving and expanding our offerings… Read More >>
SWIFT’s New CTO & COO Taking Over for Retiring CIO
Financial messaging and services cooperative SWIFT has hired a Verizon veteran Craig Young to be its new chief technology officer (CTO) and appointed SWIFT executive Marcel Bronmans as chief operations officer (COO), following a reorganization of the IT and operations division and the retirement of Mike Fish, SWIFT’s chief information officer (CIO) by the end… Read More >>
Exchanges Buck the Weather Forecasts and Stay Open
Securities exchanges either based in New York City or with major subsidiaries there stayed opened during a snowstorm that was forecast to have dire consequences but proved to be more harmful to Long Island and the Boston metropolitan area. As Winter Storm Juno’s center moved 50 miles eastward so did the potential harm when it… Read More >>
ISDA Targets CCP Default Resolution
The International Swaps and Derivatives Association (ISDA) has issued a position paper setting out a proposed recovery and continuity framework for central counterparty (CCP) clearinghouses. The position paper, “CCP Default Management, Recovery and Continuity,” outlines a “framework for recovery and sets out tools that can be used to re-establish a matched book following the default… Read More >>
