Financial Information Inc. (FII), a provider of corporate action data and historical reference services, has unveiled its North American Exchange Initial Public Offering (IPO) Service. Aimed at investment firms, financial institutions, and consultancies operating in U.S. markets, the service is intended to streamline IPO processes on North American exchanges by collating comprehensive data and insights… Read More >>
Automation for Recs & Settlement Is Up for Listed Derivatives
Participants in listed derivatives markets are improving the automation of trade settlement and reconciliation largely because of their ongoing investment in reference data, according to a new report from SmartStream Reference Data Services and Acuiti Management Intelligence. The findings of the report “The Future of Reference Data: From Compliance to Alpha,” are based on surveys… Read More >>
Trump’s SEC May Be Less Aggressive On Fines
(The Trump team is moving fast to get its cabinet nominees in order and Paul Atkins, a former SEC commissioner under President George W. Bush, has been tapped to head the SEC. If Atkins wins the approval of the U.S. Senate, he will succeed Gary Gensler who steps down on Inauguration Day. FTF News asked… Read More >>
SEC Chair Gensler to Step Down January 20
Gary Gensler will not be filling out his term as chair of the Securities and Exchange Commission (SEC) as he will be stepping down as its 33rd Chair effective at Noon on Inauguration Day, January 20, 2025, according to an SEC announcement With the onset of the second Trump administration, Gensler was never expected to… Read More >>
A Glimpse at Gary Gensler’s Legacy
With the second Trump administration coming to power in January, Gary Gensler, chair of the Securities and Exchange Commission (SEC), is unlikely to be a part of the new team. During the campaign, Trump stated that he would replace Gensler. In fact, multiple media outlets have recently reported that Trump’s transition team is searching for a replacement… Read More >>
Fenergo Moves Into Energy & Commodities Sectors
Fenergo, a provider of know your customer (KYC) management services, has begun offering its client and supply chain onboarding support to energy and commodities firms that want to improve operational efficiencies, data management, and regulatory obligations, officials say. Some of Fenergo’s clients are already “some of the largest energy and commodities firms,” officials say. “Historically… Read More >>
SEB Adds to Broadridge Deployments
Skandinaviska Enskilda Banken (SEB) is deploying an international post-trade processing solution from Broadridge Financial Solutions in an effort to streamline its securities business across international and domestic markets, officials say. Based in Stockholm, Sweden, SEB is “a long-time user of Broadridge’s front and middle office solutions for order management, trade execution and allocation,” according to… Read More >>
Voice Surveillance Service Targets Off-Channel Regulatory Woes
Securities firms are on the radar of regulators looking for violations of their usage of off-channel communications and that was part of the impetus for digital communications and recordkeeping provider Global Relay’s creation of a voice-to-text service — Global Relay Transcription —that exploits artificial intelligence technologies, officials say. The SEC has been levying fines and… Read More >>
FIA Tech Taps Broadridge for COMS & NYFIX
A technology provider for the futures industry, FIA Tech will be using the connectivity, onboarding, and monitoring service (COMS) and the NYFIX Order Routing Network from Broadridge Financial Solutions to provide clients interoperability across networks and standardization for exchange-traded derivatives (ETD), officials say. The embrace of the Broadridge offerings will also enhance FIA Tech’s Trade… Read More >>
T+1 Hit Home Harder Than Expected
A new survey from Citi Securities Services is lifting the lid on the widespread ramifications of North America’s recent shift to T+1 settlement, with effects rippling across the entire trade lifecycle. While the DTCC, brokers, and custodians have remained relatively quiet since the May transition, Citi’s Securities Services Evolution 2024 survey shows that 44 percent… Read More >>
