CME to Keep BrokerTec, EBS, Traiana & TriOptima Brands The CME Group as expected has completed all the steps for the acquisition of NEX Group, first announced in March, but will discontinue the NEX branding while keeping the names for the mark1ets and “Optimisation” businesses such as BrokerTec, EBS, Traiana and TriOptima. “The combined company… Read More >>
Bad Recs Can Halt Front Office Growth: Q&A
(Growth can be a double-edged sword for some securities firms as it will bring in new revenues and the potential for more profits. However, incumbent systems and operations will have to be adjusted to meet the new demands of the front office. So says John Landry, CEO of Electra Information Systems, in an interview with… Read More >>
Cardano Implements Intraday Recs via Electra Upgrade
London-based Cardano Risk Management Ltd., a specialist fiduciary manager, has made the move to intraday reconciliation and reports that it is saving time and money via the more efficient operation. Part of the Cardano Group, the asset manager serves pension funds, insurance companies and other organizations. The London branch has been using a recs offering… Read More >>
Deutsche Bank Shifts Three Recs Services to SmartStream
Deutsche Bank has outsourced three reconciliation services to a SmartStream Technologies’ Center of Excellence (CoE) in an effort to streamline recs processing and make it more cost effective, according to bank and vendor officials. SmartStream’s CoE is now overseeing “three distinct managed services: reconciliations on-boarding, production support and operational reconciliation services,” officials say. Previously, the… Read More >>
IHS Markit Debuts Vendor Management Service
New Portal Works with IHS Markit’s KY3P Data and analytics vendor IHS Markit has launched the Vendor Management Portal (VMP), a solution to help end-user firms with support for vendor risk-tiering and vendor management workflow, officials say The effort combines VMP with the vendor’s KY3P due diligence service to offer a system to “centralize the… Read More >>
Firms Face Cutting-Edge & Conventional IT Challenges in 2018
(Editor’s note: This tumultuous year is winding down but there’s every reason to think that securities operations will continue to make leaps and bounds next year especially when it comes to cutting-edge IT. Erica Borghi (née Choinski), chair of the International Securities Association for Institutional Trade Communication (ISITC), and vice president of Fintech Risk at… Read More >>
Electra and Linedata to Link Key Platforms
Electra and Linedata to Create Recs Interface Investment management software vendor Linedata and reconciliation services provider Electra Information Systems have announced that they are creating an interface between two key platforms. The new link will provide Linedata Mfact fund accounting users with support for Electra’s Reconciliation, offering capabilities for reconciling system-to-system, net asset value… Read More >>
SGBT to Implement Duco Cube’s Hosted Services
Societe Generale Bank & Trust (SGBT) will be using a data management platform from Duco to automate securities, cash and internal system-to-system reconciliations processes, according to bank and vendor officials. SGBT, a Luxembourg-based subsidiary of Societe Generale, will be using the Duco Cube hosted platform “to control complex data using light-touch, self-service technology,” according to… Read More >>
Time for a Giant Leap Forward for ETD Ops?
(Editor’s note: Industry veteran David Pearson, head of post-trade strategy for electronic execution vendor Fidessa, recently took time out of his schedule to answer questions from FTF News. Pearson’s position requires him to provide “innovating new business ideas across Fidessa’s global buy- and sell-side community,” according to his profile. He offers input into the business… Read More >>
Mirae Asset Securities Using FIS for Next Move
Mirae Asset Securities (USA), the wholly owned U.S. subsidiary of Mirae Asset Financial Group, is entering the hedge fund investment allocation space and will be using the Securities360 solution from FIS as it attains self-clearing status. Previously, the firm introduced accounts through a correspondent clearing firm for about two decades and had no need for… Read More >>
