Proxy Solution Supports New Shareholder Rights Broadridge Financial Solutions reports that it has begun live operations of a “golden copy” event notification and direct vote execution service that is intended to streamline proxy voting in Denmark, The service is the result of a collaboration between Broadridge and Danish central securities depositary Euronext Securities Copenhagen, and… Read More >>
Guilty Plea Reached in Crypto-Based Ponzi Scheme
Maybe someday putting your hard-earned bucks into cryptocurrencies will be as safe as putting them into a bank. That day has not yet arrived. Last week, though, Securities and Exchange Commission (SEC) Chairman Gary Gensler indicated that he was in favor of Congress “handing more authority to the SEC’s sister markets regulator to oversee certain… Read More >>
Murex’s MX.3 Links to ICE Data & Other News
Murex Integrates Offerings from ICE Data Services Murex, a trading, risk management, and processing solutions vendor, reports that it has created a more efficient way for its MX.3 platform to access fixed income and derivatives data offerings from ICE Data Services, part of the Intercontinental Exchange (ICE). The MX.3 platform supports trading, treasury, risk and post-trade operations…. Read More >>
Fines Drop 25% in First Half of 2022: Report
You don’t think it’s good news, do you? A study reports that, at mid-year, global enforcement penalties against financial institutions (and their employees) for not complying with anti-money laundering (AML), environmental, social and governance (ESG) and data-privacy regulations have fallen by a whopping 25 percent, compared to the same period last year. They’re down this… Read More >>
Northern Trust Grows Digital Consulting Team & Other News
Northern Trust Adds Four to Digital Consulting Group Northern Trust has appointed Benjamin Bobroff to head its new digital solutions consulting group, which is in its asset-servicing business development division. Northern Trust also has made three other senior appointments intended to support the “continued strategic focus and investment in digital innovation,” according to a prepared statement. The three will… Read More >>
Crypto’s Winter Eases Some Related Crime Levels: Report
Cryptocurrency markets have been having a tough time. Bitcoin, the best known coin in the crypto piggy bank, traded at an all-time high of over $65,000 per coin November 2021, according to data compiled by Statista. But that was then. Earlier this month, Celsius Network, a crypto “bank,” filed for bankruptcy after its customers lost an… Read More >>
Davy Capital Markets Taps Torstone & Other News
Davy Capital Markets to Revamp Post-Trade Ops Dublin-based wealth manager Davy Capital Markets reports that it has become a Torstone Technology customer and will use the Torstone Platform to evolve its post-trade processing operations. “We have built and maintained our own post-trade platform for many years, and this has served us very well, as it… Read More >>
CFTC Ends LIBOR for IR Swaps & Other News
CFTC Amends & Ends LIBOR Usage The Commodity Futures Trading Commission (CFTC) has issued a final rule ending the requirement that interest rate swaps reference the London Interbank Offered Rate (LIBOR) in order to complete the clearing process — another milestone marking the end of the scandal-ridden LIBOR. The final rule modifies the CFTC’s… Read More >>
Two Ex-JPMorgan Traders Convicted for Market Manipulation
A federal jury in the Northern District of Illinois recently found two former precious metals traders at JPMorgan Chase & Co., guilty of fraud, attempted price manipulation, and spoofing via a precious metals futures contracts scheme that occurred over an eight-year period and encompassed “thousands of unlawful trading sequences,” authorities say. The two, now-convicted, ex-traders… Read More >>
It’s Time to Check the T+1 Playbook
To say the least, the securities-trading industry has been a little busy since it shifted to a trading day plus two business days settlement (T+2) cycle in 2017. Yet, despite market volatility, disruptive technologies, epic political and social changes, a pandemic, soaring inflation, and an ongoing war in Europe, the industry-wide drive to an even… Read More >>
