The pending marriage between Fidessa and Temenos, announced in late February, has been put on hold in the wake of two eleventh hour suitors, reports Fidessa Group officials. The two unidentified offers have caused the Fidessa board to put off a shareholder vote on the Temenos offer, which was slated for April 5. In a… Read More >>
SS&C Buys North American Branch of CACEIS
Investment solutions and services giant SS&C Technologies Holdings, Inc. is acquiring CACEIS North America, the fund administration business of CACEIS, for an undisclosed amount and will be folding the business and staff into SS&C GlobeOp’s alternatives business. The parent company, CACEIS, describes itself as a Paris-based asset servicing group of Crédit Agricole bank, “providing execution,… Read More >>
New Collateral Management Strategies Require New Building Blocks
Post-crisis regulation and competitive market conditions have forever changed the collateral management process for securities trading firms. The push to develop new collateral optimization strategies has often uncovered major problems within a firm’s own systems and processes. Most firms have had to move quickly to revamp their internal systems and craft new collateral management operations… Read More >>
FTF Awards Q&A: Are In-House Ops a Luxury?
(FTF News recently got time with SmartStream’s Darryl Twiggs, senior vice president for the Strategic Initiatives division, and Kurt Eldridge, global head of sales, to talk about the two awards that the company took home: Best Outsourcing Provider and Best Derivatives Operations Solution. They also share their thoughts on the future of managed services and… Read More >>
FTF Focus Spotlights the 2016 FTF Awards Winners
For the sixth year in a row, Financial Technologies Forum (FTF) sponsored the FTF News Technology Innovation Awards competition to help securities industry professionals shine the spotlight on the outstanding companies, individuals and industry groups that have achieved excellence in post-trade operations. The key winners for 2016 are featured in the special Awards Issue… Read More >>
Credit Suisse to Leverage FIS Utility
Swiss banking giant Credit Suisse will be outsourcing its post-trade futures and cleared over-the-counter derivatives operations and technology to banking and payments technology vendor FIS in order to leverage the cost savings of a utility model, bank officials say. The Derivatives Utility from FIS targets market participants “including futures commission merchants (FCMs)” that want cost-efficient… Read More >>
Firms Have Tough Decisions Ahead of Them: ISITC
(Editor’s note: Jeffrey Zoller, chairman of The International Securities Association for Institutional Trade Communication (ISITC), an industry trade group focused on standards, speaks to FTF News about some of the difficult choices coming for financial services firms. ISITC’s 22nd Annual Industry Forum & Vendor Show is underway in Boston this week. In addition to his… Read More >>
Vestmark Platform Links Sponsors to Asset Managers
Vestmark, a software-as-a-service (SaaS) provider of portfolio management and trading solutions, has launched the Vestmark Manager Marketplace (VMM), which is intended to connect asset managers to sponsors such as registered investment advisors (RIAs), banks and broker-dealers. The VMM service facilitates sponsors’ links to third-party management in model portfolio format or in separately managed accounts (SMAs),… Read More >>
Options Technology Consolidates London Offices
Options Technology, a managed services and IT infrastructure vendor for the financial services markets, is consolidating its two existing London offices into a new office in central London, officials say. The new office is situated in Portland House, Victoria, and will “accommodate growing staff numbers within the firm and has capacity for over 100 employees,”… Read More >>
Outsourcing Exposes Flaws, Disrupts Staff: Industry Panel
As regulatory burdens continue to bear down on firms, the many flaws of manual, legacy or otherwise outdated systems and processes are becoming increasingly apparent, leading more and more firms to view outsourcing as an attractive option. Yet outsourcing will lead to disruptions among staff — perhaps even layoffs — and will change the role… Read More >>
