It’s been just over a year since swap execution facilities (SEF) inauspiciously opened for business on Oct. 2, 2013 – “A day that I’ll never forget,” in the words of one SEF operator present at the SEFCON V conference on Wednesday. Panelists at the event, sponsored by the Wholesale Markets Brokers’ Association, highlighted how far… Read More >>
KYC Joint Venture Hires from Goldman Sachs
Markit | Genpact KYC Services, the joint venture from Markit Ltd., a provider of financial information services, and Genpact Ltd, a specialist in designing and running business operations, has reported the appointment of former Goldman Sachs executive, Jon May, as CEO. May, who will join Markit | Genpact KYC Services in January 2015 and be… Read More >>
Fines, Regs Push Firms Toward Legal Entity Data
Post-crisis regulatory reforms are putting immense pressure on financial services firms to overhaul their ability to manage client and legal entity data, an area most firms had been content to ignore until recently, according to a new white paper. Conducted by market research firm Aite Group and commissioned by the DTCC, the paper outlines the… Read More >>
Infosys Names General Counsel & Intends to Hire 2,100
Outsourcer Infosys has appointed industry veteran David D. Kennedy to serve as executive vice president and general counsel for the company and as executive officer of the company for the purposes of SEC Reporting, officials say. The company has also announced an effort to add 2,100 employees to its ranks, including many recent graduates and… Read More >>
HSBC Hires from BCG for Group COO
Andy Maguire will be joining HSBC Holdings as its new group chief operating officer (GCOO) and group general manager on Dec. 1, 2014, officials say. Maguire will be leaving his post as a senior partner and managing director for the London office of the Boston Consulting Group (BCG). Maguire will replace Sean O’Sullivan, who is… Read More >>
Capricorn Capital Group Deploys Athena IMS
Alternative asset manager Capricorn Capital Group has gone live with financial technology provider Cymba Technologies’ Athena Investment Management Solution (IMS), according to a Cymba statement. Capricorn invested in the IMS, which supports the order management, pre- and post-trade compliance, trading, operations and execution functions, in order to launch a new fund compatible with the Undertakings… Read More >>
Are You Ready for Bitcoin?
If you haven’t heard of it before, my guess is that you are likely to become more acquainted with the crypto-currency Bitcoin. “As a non-political online money, Bitcoin is backed exclusively by code,” according to the Bitcoin Foundation website. “This means that — ultimately — it is only as good as its software design. By… Read More >>
Blurred Lines: OTC Reforms for Voice Trading
(Editor’s note: This is the online version of the story appearing in the Fall 2014 edition of FTF News magazine, which will be available on the website later this month. The print edition of the magazine debuted at the SIBOS 2014 conference and exhibition in Boston last week. The event, put on by financial messaging… Read More >>
Survey: Regulatory Overhaul Boosts Role of COO
The status of chief operating officers (COOs) appears to be on the rise as financial services firms take on dramatically new business models driven by global regulatory and market structure changes, according to a survey, sponsored by Broadridge Financial Solutions and conducted by The Economist Intelligence Unit. Broadridge, which provides investor communication services, solutions and… Read More >>
SmartStream: Greater Back-Office Efficiency via a Utility Model
In a sponsored video interview Darryl Twiggs, SmartStream’s executive vice president, product management, talks to FTF News about the real-time message processing paradigm shift causing firms to consider big cuts in the back office and new solutions with a broader focus, based on a utility model.
