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 >>
FICC Sets a T-Bonds Record as Costs to Rise
The Government Securities Division (GSD) of the Fixed Income Clearing Corp. (FICC) cleared $9.2 trillion in U.S. Treasury activity on September 3, a record-setting milestone that could bode well for the mandated centralized clearing to come next year. The steady industry movement to centralized clearing is a sign that industry players are embracing the reforms… Read More >>
State Street & Taurus to Build Digital Custody Services
State Street Corp. is bolstering its digital asset solutions business via an agreement with Taurus SA, a digital asset infrastructure provider, in response to institutional interest in digital assets that’s “at an all-time high,” according to the Boston-based custodian bank. The collaboration will add tokenization and digital custody services support to the custodian’s currently available… Read More >>
TS Imagine Launches a CCP Margin Calculator
TS Imagine, a global, cross-asset provider of trading, portfolio, and risk management solutions, has released a margin calculator offering intended to improve the way securities firms meet the minimum requirements of central counterparty clearinghouses (CCPs). The RiskSmart X’s CCP Margin Calculator is an extension of the RiskSmart X offering that launched last year, which helps… Read More >>
SEC Launches Interagency Effort to Bolster Enforcement
The Securities and Exchange Commission’s Division of Enforcement has launched the Interagency Securities Council (ISC) to better coordinate enforcement among federal, state, and local agencies, SEC officials say. The ISC will involve representatives from “more than 100 departments and agencies, including federal agencies, state offices of attorneys general and state police, and local police departments… Read More >>
