ION Cleared Derivatives suffered “a cybersecurity event” on Jan. 31, 2023, that set off an ongoing crisis for the global processing of cleared derivative instruments. The cyber-and-ransomware attack has gotten the attention of the CFTC, and the Futures Industry Association (FIA) and is likely to take days to resolve, according to media reports and officials…. Read More >>
Did Genesis Global Capital & Gemini Trust Break the Law?
Crypto has faced some tough times lately, though the kids who are among its most fervent boosters keep insisting that the value of their shiny coins will rebound in 2023. Like, for sure. Faster than you can say Winklevoss! Good times for us and the brothers must be right around the corner, right? Well, it… Read More >>
Court Approves the Sale of FTX’s Businesses
The debtors of the bankrupt crypto exchange FTX recently won the right legally to sell off key businesses via the U.S. Bankruptcy Court for the District of Delaware, which has set up a schedule for the bidding, auctioning, and sales hearing processes. FTX filed for Chapter 11 bankruptcy in November 2022 and its affiliated debtors… Read More >>
Nominations Are Open for the 2023 FTF Awards!
We are thrilled to launch the nomination process for the 2023 FTF News Technology Innovation Awards — an industry-wide competition now in its 13th year — presented by Financial Technologies Forum (FTF) and the FTF News service. In addition to our classic securities operations and related categories, we have four new categories that reflect industry… Read More >>
Reporter’s Notebook: Is SBF a Gen X Madoff?
Is Sam Bankman-Fried (a.k.a. SBF) the Gen X Bernie Madoff? Or maybe he’s the Hairball-Grinch who stole Christmas? Of course, we won’t know for sure that he’s allegedly a con artist and a crook of epic proportions until he’s had his day in court. Maybe he’s just a kid who believed his own hype and… Read More >>
Looking Back at Our Content for 2022
First, we at FTF & FTF News are hoping that you are enjoying or are about to enjoy a great and well-deserved holiday break. FTF, too, is taking a break for a week between Christmas and New Year’s Day. We will not leave you hanging, though. We have lined up special alerts for you —… Read More >>
War & Inflation Are Top Risks for 2023: Survey
Traditionally, the approach of a new year means it’s time to dust off the crystal ball. The FTF News proprietary orb is in the shop for some well-earned polishing, but never fear. There is no better prognosticator than the Depository Trust & Clearing Corp. (DTCC), which has unveiled its annual Systemic Risk Barometer Survey: 2023 Risk… Read More >>
Turkish Bank Goes Live with Murex System & Other News
Anadolubank Deploys MXGO Solution Turkish bank Anadolubank has gone live with a treasury and trading platform from vendor Murex to build a front-to-middle-office platform across multiple asset classes including FX, FXD, money markets, fixed income, interest rate differential (IRD) and SecFin that will help the bank expand its treasury and capital markets businesses. Anadolubank is… Read More >>
BNY Mellon & Baton Bring DLT to Collateral & Other News
BNY Mellon & Baton Systems Form Partnership Distributed ledger technology (DLT) is at the heart of a new post-trade, collateral management collaboration between BNY Mellon and Baton Systems. The joint offering links Baton’s central clearing counterparty (CCP) network with BNY Mellon’s Enterprise Continuous Portfolio Optimization (ECPO) service in an effort to help mutual clients improve… Read More >>
Firms Are Behind On CFTC Rewrite Deadline: Survey
More than half of the respondents to a recent survey say that they are behind in meeting the pending reporting requirements for what is known as the “Commodity Futures Trading Commission (CFTC) Rewrite,” which means that they might miss the December implementation deadline. The CFTC Rewrite refers to the changes coming to the over-the-counter (OTC)… Read More >>
