Financial Technologies Forum (FTF) and FTF News are pleased to announce the nominees for the 2022 FTF News Technology Innovation Awards competition. The variety and high volume of nominations are clear signs that fintech achievement is alive and kicking amid the challenges of a global pandemic, volatile markets, and a steady flow of game-changers such… Read More >>
SEC Advances T+1 via Proposed Rules Changes
The SEC has given a major boost to the movement to shorten settlement times in U.S. equities markets from T+2 to T+1 via a vote this week to formally propose rule changes that tighten clearing and settlement time-frames and facilitate T+1 by mid-2024. The SEC wants the proposed changes because they will “reduce the credit,… Read More >>
FNZ Sells GBST But Will Buy Back Syn Suite
FNZ officials report that they have found a complicated, partial exit from their complicated acquisition of GBST, which was ultimately vetoed by a U.K. regulator, the Competition and Markets Authority (CMA). Known as a wealth management platform provider, FNZ has just announced that it has sold GBST to Anchorage Capital Partners, a global private equity… Read More >>
ISITC Promotes Vice Chair to Top Post
Industry standards trade group ISITC has named Kristin Hochstein, the current vice chair, to be its new chair for the 2022-23 term, and she will take over for Lisa Iagatta, who will finish her three-year term as chair by the end of this month. The group, which develops standards and best practices for financial services… Read More >>
JPM Asset Management Taps JPM Securities Services
Following a two-year search, JPMorgan Asset Management (JPMAM) officials report that they will be outsourcing to JPMorgan’s Securities Services division an updated set of global operations that will encompass middle office services, collateral management, and risk analytics. The move means that there will be a definite swing to a more flexible model for services that… Read More >>
Firms & Providers Disagree About T+1’s Rewards: Survey
Shorter settlement of U.S. equities transactions from trading day plus two days (T+2) to one day (T+1) will happen within the next five years, according to nearly half of the respondents to a global survey and study conducted by Citi Securities Services. But, beyond that point of agreement, the survey results showed that financial market… Read More >>
SEC Sought ISITC’s Advice on T+1: Q&A
(FTF News recently spoke with Lisa Iagatta, the ISITC chair for the past three years, as ISITC’s Virtual Fall Forum 2021, held earlier this month, was winding down. Iagatta touched on the T+1 shorter settlement cycle push, led by the DTCC, SIFMA, and the ICI, and looked back at her time at the helm, which… Read More >>
Gresham Taps Duco for New Global Director
Julian Trostinsky Joins Gresham Technologies Gresham Technologies plc has named Julian Trostinsky, an industry veteran and an ex-Duco vice president, as its new “global director of customer success.” Gresham is a fintech provider of real-time processes, procedures and reconciliation capabilities that are intended to provide “data integrity and control, banking integration, payments and cash… Read More >>
Lacewell Leaves Behind a Legacy of Activism
Linda A. Lacewell recently announced that she will be stepping down on August 24 from her position as superintendent of the New York State Department of Financial Services (NYSDFS) after two-and-a-half years at the helm. Her departure coincides with the resignation of Gov. Andrew Cuomo who is leaving because of a scandal involving sexual harassment… Read More >>
SmartStream Applies A.I. to Recs Processes
SmartStream Air Version 4 Gets an A.I. Refresh Post-trade solutions vendor SmartStream Technologies recently launched SmartStream Air Version 4, an application update that uses artificial intelligence (A.I.) technology to support real-time and continuous reconciliation processes, officials say. The update “will allow customers to use a much wider range of processing, including payment reconciliations, which is… Read More >>
