The SEC is mulling new, comprehensive operational and risk management rules that will update and deepen its oversight of the asset management industry, according to SEC Chair Mary Jo White, who yesterday outlined “regulatory enhancements” for the “increasingly complex portfolio composition and operations” of asset managers. The proposed overhaul will revamp data reporting requirements, fund-level… Read More >>
Q&A: Settling Margin Calls Without ‘A Single Human Touch’
Broadridge Financial Solutions is bolstering its CollateralPro solution via a new partnership with AcadiaSoft, a provider of the MarginSphere margin call confirmation technology for collateral management. Jerry Friedhoff, managing director of securities financing and collateral management at Broadridge, took time out of his schedule to answer FTF News’ questions about the agreement that integrates MarginSphere… Read More >>
AxiomSL Targets Austria’s ‘Smart Cube’ Reporting
AxiomSL, a provider of regulatory reporting and risk management software, reports the launch of a solution that will enable banks to comply with Austria’s new Smart Cube reporting requirement, which will be implemented by the Oesterreichische Nationalbank (ONB), the country’s central bank, and will take effect June 15, 2015. The Smart Cube system is meant… Read More >>
Fonetic Adds Multi-Trade Search Functions
Fonetic, a voice and text management vendor, has added multi-trade search and reconstruction capabilities to its compliance portfolio, officials say. Fonetic scans social media, data analytics, sentiment analysis and unstructured data for a multi-channel, multi-language solution that decodes customer behavior and makes recommendations on how to act, officials say. The company says that its Dodd-Frank… Read More >>
Post-Trade Ops: Not Just for Wannabe Traders Anymore
When Josh Brodman first dipped his toe into post-trade operations, he wasn’t quite sure what to expect. It was 2005 and Brodman, then a junior majoring in finance at Binghamton University, had just secured an Ops internship at a hedge fund with roughly $6 billion in assets under management (AUM). “I was looking across the… Read More >>
ING to Slash Retail Workforce by 1,700
ING will be cutting its Dutch workforce by 1,700 full-time equivalents (FTEs) over a three-year period in a bid to refocus its retail business. The job cuts are expected to yield annual gross savings of approximately $336.5 million (€270 million) starting in 2018, say bank officials. The cost of the layoffs will require a pre-tax… Read More >>
Co-Founder to Lead Wall Street Horizon
Wall Street Horizon, a provider of single-stock event calendar data services for institutional investors and traders, has named Bruce R. Fador president and chief commercial officer. Fador co-founded the company together with Barry L. Star, managing director, in 2003 and has been an executive advisory board member since 2013. His mission will be to “help… Read More >>
Genpact, Lombard Risk Target Collateral Management Woes
Genpact, a specialist in business processes, operations and technology, and Lombard Risk Management, a collateral management services vendor, are joining forces to help firms optimize increasingly expensive collateral management operations, officials say. A new collaboration between the two will integrate Genpact’s Collateral Agreement and Reference Data Services (CARDS) and Lombard Risk’s COLLINE collateral, clearing, inventory… Read More >>
New EDM Council Chairman from HSBC
The Enterprise Data Management (EDM) Council has elected Peter Serenita, HSBC’s chief data officer (CDO), as chairman of the EDM Council’s board of directors, officials say. Serenita’s election “comes at a particularly critical time for the practice of data management in the financial services industry,” the EDM Council says in a statement, as “banks and… Read More >>
Q&A: No Defined Standards Yet for Derivative Valuations
Manuel Ibarra, who works in counterparty portfolio management at Morgan Stanley, took time out from his schedule to answer FTF News’ questions about the derivatives valuation processes. Ibarra underscores that his answers are his alone and do not reflect the opinions of Morgan Stanley, its parent company or affiliates. Before Morgan Stanley, Ibarra worked as… Read More >>
