Self-regulatory organization FINRA is considering changes to the way data (trade price and size) about block-sized trades of corporate bonds will be disseminated to the marketplace, and wants industry input for a proposed pilot program. The proposal is in response to market participants and the SEC, which have raised concerns over the current system of… Read More >>
Securian Trust Employs SEI’s Cloud-Based Platform
SEI Client to Focus on Automation & Integration SEI reports that Securian Trust Company, an SEI client since 2009, will adopt its wealth platform, intended to “provide a seamless experience for … clients and the advisors that serve them.” The platform, SEI says, is a “fully-integrated, single-infrastructure technology solution developed to support client relationship management,… Read More >>
FINRA Named as the New CAT Operator
The backers of the big data consolidated audit trail (CAT) have selected the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization (SRO), to be the next plan processor for the CAT system, replacing Thesys Technologies, which was acting as Thesys CAT. Late last month, news broke that Thesys CAT was being phased out of the plan… Read More >>
SmartStream & Numerix Partner to Ease IM Requirements
Two Vendors Focus on Noncleared OTC Derivatives SmartStream Technologies, a post-trade systems and services provider, and Numerix, a risk technology vendor, report an agreement intended to better support end users in complying with the International Swaps and Derivative Association’s (ISDA) standards governing margin requirements for non-centrally cleared derivatives. In order to facilitate the over-the-counter (OTC)… Read More >>
Buy Side Can Access Fenics UST via QuantHouse
New API & QuantLink Access via QuantHouse QuantHouse, a provider of market data services, an algo trading platform and infrastructure solutions, can now offer its buy-side clients “quick and streamlined access to normalized real-time and historical data to trade the U.S. cash treasuries market” via a new link to the Fenics USTreasuries platform. The… Read More >>
ISDA’s Best Practices Target CCP Members
The International Swaps and Derivatives Association (ISDA) is setting forth in a new white paper a set of best practices for central counterparty clearinghouses (CCPs) in a bid to prevent troubling defaults that have to then be absorbed by CCP participants. Citing two recent defaults, ISDA says that they represent “the weaknesses in some CCP… Read More >>
DTCC Partners with Symphony for DXM Service
Symphony to Enhance DTCC Exception Manager Service The New York City-based Depository Trust & Clearing Corp. (DTCC), a post-trade market infrastructure provider for the financial services industry, reports that it has signed an agreement with Symphony, a cloud-based messaging and collaboration platform. The agreement “significantly expands communication and collaboration capabilities within the DTCC Exception Manager… Read More >>
Why Minimizing Counterparty Credit Risk is Crucial: Q&A
(NEX introduced triBalance last year to help financial services firms grappling with multilateral rebalancing of counterparty risk exposures, among other Ops challenges. The launch has paid off for NEX as voters in the FTF News Technology Innovation awards competition picked the offering as the Best New Post-Trade Solution. FTF News got time with Michael Modlock,… 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 >>
