Reconciliation technology vendor Gresham Computing has hired Shaleen Dastur from NorthPoint Solutions and appointed her senior sales executive, responsible for the sales of Gresham’s Clareti Transaction Control (CTC) system in North America, Gresham officials confirm. Dastur, who joined the London-based Gresham in July 2014, has a decade of financial services industry experience in selling software… Read More >>
Prime Brokers and Custodians Bury the Hatchet
Following a rocky courtship just after the financial crisis, prime brokers and custodian banks have now settled into a comfortable – if not quite loving – marriage of convenience as both sides aim to please hedge fund clients, sources say. “In the beginning, there was definitely a lot of competition between the custodian banks and… Read More >>
Macquarie Futures to Use Cloud-Based Recs
Macquarie Futures, a futures commission merchant of Australian financial services firm Macquarie Group, will be deploying a reconciliation system from Gresham Computing, the Clareti Transaction Control (CTC) solution via an Amazon Web Services (AWS) public cloud computing deployment, officials say. The Amazon cloud will deliver the automated reconciliation and exception management services of CTC to… Read More >>
SEI, SmartStream to Build Recs Utility
SEI, an asset manager and financial technology provider, will be collaborating with post-trade systems and services vendor SmartStream Technologies to build a reconciliations utility that will help SEI better serve wealth management clients with cash, transactions and securities positions from a single reconciliation platform, report SmartStream officials. As part of the effort to create the… Read More >>
Recs Technology Hits Its Stride in Europe
Virginie O’Shea, a senior analyst for market research firm Aite Group, answers FTF News’ questions about the rise in global spending on reconciliation technology, which is particularly acute in the U.K. and throughout Europe. Aite’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble” finds the percentage of reconciliation clients on a… Read More >>
T+2 Switch May Need Regulatory Help
Post-trade services utility DTCC has stepped up its efforts to move the industry to a shorter, T+2 settlement cycle for U.S. equities, corporate and municipal bonds and unit investment trust (UIT) trades. Neil Henderson, the DTCC’s managing director of clearing, is helping lead the charge and took a few minutes to answer FTF News’ questions…. Read More >>
Demand Soars for Recs IT as SIFMA Pushes LEI Usage
Reconciliation Technology ‘Explosion’ in Europe & U.S., Says Aite No longer is reconciliation technology “solely applied” to reconciling cash accounts. That’s the word from market research firm Aite Group’s latest report, “Reconciliation Technology Solutions in 2014: Recs Get Ready to Rumble,” which also takes note of the “explosion in the number of different vendor solutions… Read More >>
And, now, the Winter/Spring edition of FTF News Magazine
The long winter has given us at Financial Technologies Forum the extra time we needed to pull together many projects such as the Winter/Spring edition of the digital FTF News magazine, officially debuting today. In the meantime, the FTF News website has been re-launched and we have hit a warp speed that Captain Kirk would… Read More >>
The Pain of Recs Onboarding
Reconciliation technology is gaining ground as a result of market pressures and greater demands for data transparency and integrity, according to a new report from market research firm Aite Group. In fact, reconciliation is being applied to processes beyond matching cash accounts. But recs onboarding is becoming a significant challenge for firms, Aite found via… Read More >>
Would You Pay $812,460 to Fax Confirmations?
Manual processing stings especially in the investment fund services industry. Order placement, confirmation, fund transfer and reconciliation processes remain dominated by little or no automation, says market research firm Aite Group. In one case, a fund management firm spends $812,460 (€600,000) annually on faxes for its Taiwanese investors—representing 30% of the total transfer agency bill… Read More >>
