BNY Mellon Mum About 2021 Custody bank BNY Mellon is telling its approximately 48,000 staff members across the globe to continue to work remotely for the rest of 2020. “Our top priority remains the health and safety of our employees and our clients,” a BNY Mellon spokesperson tells FTF News. “A majority of our global… Read More >>
Gresham Buys Inforalgo to Bolster Regulatory Reporting
Gresham to Integrate Inforalgo with Clareti Reconciliations vendor Gresham Technologies has acquired pre- and post-trade data management specialist Inforalgo Information Technology Ltd. in an effort to to expand Gresham’s regulatory reporting capabilities, officials say. Inforalgo reports that it offers cloud-based, straight through processing (STP) solutions and automation technologies that help financial institutions with complex real-time connectivity… Read More >>
Fifty Firms Sign Up for DTCC’s MTU
Firms Automate Margining Tasks The DTCC’s Margin Transit Utility (MTU), an automated margin call service, now has the support of 50 financial services firms that are striving to automate manual systems amid volatile markets, officials say. The MTU service includes connectivity from AcadiaSoft’s Margin Manager and DTCC’s Alert for standing settlement instructions (SSIs), links to… Read More >>
Sell-Side Firms Are Reviving Key Projects: SmartStream
(Sell-side firms are reviewing and reengaging strategic projects in the wake of a pandemic that caused staff to work remotely, says Jason Ang, program manager, TLM Collateral Management, at SmartStream Technologies. This return to strategic projects amid lockdowns and re-openings means the sell side is re focusing on collateral and its importance for credit risk… Read More >>
Ready for a LIBOR Transition Exam?
To make sure that things are moving along as they should, the SEC’s Office of Compliance Inspections and Examinations (OCIE) quietly released a Risk Alert, “Examination Initiative: LIBOR Transition Preparedness,” on June 18 that reminds people that the OCIE is happy to inspect your firm’s progress. The global push to move away from the London… Read More >>
Duco & Murex Announce Collaboration
Murex & Duco to Offer End-To-End Recs Solution Duco, a provider of self-service reconciliation services, and Murex, a provider of trading, risk and processing processes for treasury and capital markets, report that they will jointly provide clients with a “comprehensive data reconciliation solution enabling improved automation and straight through processing across a range of asset… Read More >>
Deutsche Bank Resolves Spoofing & Swaps Data Cases
The Commodity Futures Trading Commission reports the settlement of two enforcement orders involving Deutsche Bank. In one, the bank “resolved federal court charges stemming from alleged violations of various swap data reporting and other regulatory violations,” the CFTC says. In the second enforcement action, the CFTC “issued an administrative order against Deutsche Bank Securities Inc…. Read More >>
Wall Street Braces for a Safe Return
Wall Street is moving cautiously toward reopening and Monday, June 22, will serve as a milestone for when the securities industry took its first step into the new normal following a crushing pandemic that took 21,000 lives in New York City and brought the world to a halt. After three months of a pandemic lockdown,… Read More >>
Goldman Sachs Joins Swaps Settlement Service
Settlement Service Run by CLS & IHS Markit Investment banking giant Goldman Sachs has joined a cross-currency swaps settlement service developed by financial data and systems vendor IHS Markit and a firm specializing in settlement CLS, officials report. With its latest member, the payment-versus-payment (PvP) settlement service has eight settlement members “live on the service,… Read More >>
CME’s Eurodollar Options Floor to Reopen in August
CME to Add Safety Measures to Options Floor CME Group reports that it will reopen its Eurodollar options trading pit on August 10, 2020. In advance of that reopening date, the company intends to “reconfigure the pit to meet social distancing standards and put additional safety measures in place,” CME officials say in a statement. “All… Read More >>
