Teranet’s CM Solutions Will Acquire the Shares of CMS London-based financial software vendor Finastra, formed in 2017 by the combination of Misys and D+H, reports that it has entered into a definitive agreement to sell its Canadian-based Collateral Management Corp. (CMS) business to Teranet. Teranet’s affiliated entity CM Solutions Inc. will acquire the issued and… Read More >>
Major Players Test Blockchain/DLT for Margining
ABN AMRO Clearing, EuroCCP, Euroclear and Nasdaq report that they have successfully tested an implementation of distributed ledger technology (DLT) for a margin call between a global capital markets firm and a central clearing counterparty, earlier this month. The test was part of a joint proof of concept (POC) effort to explore ways to “make… Read More >>
IHS Markit to Sell MarkitServ & Acquire Ipreo
Financial data vendor IHS Markit is moving to divest itself of its MarkitServ derivatives processing business, and to acquire Ipreo, a software solutions and data provider whose complementary offerings will result in more comprehensive offerings, officials say. Officials at IHS Markit say the provider of securities trading information, analytics and solutions, is willing to pay… Read More >>
Global Framework Would Fix Fragmented OTC Repositories: DTCC
A new report from the DTCC calls for a new global reporting framework to complete the Great Recession mandate of the Group of 20 (G20) to establish repositories of over-the-counter (OTC) derivatives trades, intended to help regulators sift out potential risks. The DTCC is also pointing to the possibilities of distributed ledger technology (DLT) and… Read More >>
CME Group, GCSA Capital Build Collateral Solution
The CME Group, which operates derivatives exchanges, and GCSA Capital, a provider of collateral and risk transfer solutions, have been developing an additional form of collateral — a letter of credit issued by a bankruptcy-remote trust — acceptable for use via CME Clearing. The two companies have been readying the Prefunded Treasury Facility (PTF), a… Read More >>
AcadiaSoft Targets Buy Side’s New Margining Woes
AcadiaSoft Inc., a vendor of margin automation solutions, is targeting the buy side with the launch of CollateralManager, which is intended to streamline collateral searches when used with the AcadiaSoft Hub. The new platform will encompass all agreement types — over-the-counter (OTC) bilateral, OTC-cleared, and exchange-traded derivatives, repos, MSFTA, securities lending and borrowing, officials say…. Read More >>
Buy Side Spared Direct CAT Reporting Requirements
(U.S. securities exchanges and the Financial Industry Regulatory Authority (FINRA) pushed for the creation of an uber market surveillance/database system, the Consolidated Audit Trail (CAT), to support SEC Rule 613. Plans for implementation have been underway since July 2012 and got a boost when SEC officials finally approved the CAT NMS Plan on Nov. 15,… Read More >>
Credit Suisse Asset Management Group Sells Off Actiance Investment
Sale is Key to the Merging of Actiance and Smarsh Credit Suisse Asset Management’s NEXT Investors group reported on Nov. 30 that it has exited its investment in Actiance, a communications and social media compliance, archiving, and analytics vendor, via a sale to K1 Investment Management, a U.S. private equity firm that invests in enterprise… Read More >>
Firms Face Cutting-Edge & Conventional IT Challenges in 2018
(Editor’s note: This tumultuous year is winding down but there’s every reason to think that securities operations will continue to make leaps and bounds next year especially when it comes to cutting-edge IT. Erica Borghi (née Choinski), chair of the International Securities Association for Institutional Trade Communication (ISITC), and vice president of Fintech Risk at… Read More >>
Credit Suisse Tackles Trading Fees & Expense Management
(Editor’s note: During the SIBOS conference and exhibition last month SmartStream Technologies and Credit Suisse announced that they have expanded their invoice processing agreement so that the vendor will be handling the listed derivatives brokerage fees via the vendor’s proprietary transaction execution fees and expense management software. The software program encompasses the receipt of invoices,… Read More >>
