UBS Securities has begun to implement a risk and surveillance platform that will centralize the viewing of trading, operations, compliance and risk management information. The firm is deploying the Validus platform from Eventus Systems, an Austin, Texas-based software provider that offers solutions for processing and analyzing data across an organization. “Implementation of Validus has just started,”… Read More >>
BAE Profiles ‘World’s Most Dangerous Cybercriminals’
Six Types of Cybercriminal to Avoid BAE Systems, the London-based, multinational security company, recently released profiles of “six prominent types of cybercriminals” and detailed how they could hurt companies around the globe, officials say. Threat intelligence experts at BAE Systems have compiled a list, “The Unusual Suspects,” that has been created from “research that uncovers… Read More >>
Wipro to Acquire Viteos Group for $130 Million
Wipro Ltd., a Bangalore, India-based IT management, consulting and business process services (BPS) company, reports that it has agreed to acquire Viteos Group, a business-process-as-a-service (BPaaS) provider for the alternative investment management industry. The acquisition is meant to add the buy-side capabilities of Viteos to Wipro’s existing sell-side credentials, according to a Wipro statement. Viteos,… Read More >>
RFA Shatters Hardware Bottlenecks for Funds’ Transactions
A variety of securities firms such as hedge funds, private equity funds, funds of funds, wealth managers and alternative asset managers use private cloud services and on-demand, hosted infrastructure-as-a-solution (IaaS) options. Whether systems are hosted or onsite, the reliability of the underlying hardware is essential for the lightning speeds required for everything from execution to… Read More >>
Nordea Bank Scores Breakthrough with Repo Trading
Nordea Bank, a large financial services group in Northern Europe, has been working with post-trade services provider Omgeo and investment management software vendor SimCorp to automate its repurchase agreement (repo) post-trade matching process, and recently matched its first live repo trade. The Stockholm-based bank recently processed a repo instrument between itself and Swedish administrative services… Read More >>
EBS Direct Uses FIX 4.4 for Application Links
EBS Direct to Use FIX 4.4 API EBS BrokerTec, the electronic foreign exchange (FX) and fixed income business group of interdealer broker ICAP, reports that end-users can connect to its FX platform — EBS Direct via a FIX version 4.4 application programming interface (API). The Financial Information eXchange (FIX) protocol for electronic trading is overseen… Read More >>
EC Takes On Cross-Border Barriers to Clearing & Settlement
Europe will convene a group of post-trade experts to review post-trade issues but what problems is the group likely to find and how will it build on previous attempts to eliminate cross-border clearing and settlement barriers? The European Commission is establishing the European Post-Trade Forum (EPTF) to assist in assessing the barriers to cross-border clearing… Read More >>
SwapClear to Use Markit’s New Netting Service
The SwapClear clearinghouse is using a netting synchronization service for cleared, over-the-counter (OTC) derivatives just launched by financial information services vendor Markit. Markit is introducing the service in a bid to help banks “automatically update their risk systems after netting and compression activity at their clearing houses,” say vendor officials. “Netting exposures within a clearing… Read More >>
Northern Trust’s CompleteFX Covers Post-Trade Ops
Custodian and asset service provider Northern Trust is confirming that its new offering CompleteFX, an outsourced service for processing and executing foreign exchange (FX) products for investment managers, offers support for settlement and other post-trade operations. The CompleteFX platform offers “accurate trade settlement,” which allows clients to “take advantage of our compression functionality to minimize… Read More >>
