Nasdaq, known for its exchanges, will be securing its goal of becoming mostly a solutions provider with its just announced definitive $10.5 billion agreement to acquire Adenza — which is a combination of Calypso and AxiomSL — from private equity firm Thoma Bravo. Once authorities approve the $10.5 billion price tag, which consists of cash… Read More >>
‘Morgan Money’ Links to Clearwater Platform & Other News
Clearwater Analytics & JPAM Connect Systems JPMorgan Asset Management (JPAM) has launched a strategic effort to integrate its Morgan Money global trading platform with a key accounting and reporting platform from Boise, Idaho-based Clearwater Analytics, officials say. Morgan Money is a multi-currency, open architecture trading and risk management system that helps customers to view… Read More >>
FTF Unveils Winners of the 2023 FTF Awards
With nods to established players and voter enthusiasm for other providers hitting their stride, Financial Technologies Forum (FTF) has unveiled the winners of the 2023 FTF News Technology Innovation Awards competition. The 30 winners of the FTF Awards competition — now in its 12th year — are being honored for achievements during 2022. “It’s not… Read More >>
Solve the SSI Issue Once & For All: Q&A
(Editor’s note: It looks as if industry veteran Bill Meenaghan, founder and CEO of SSImple, a fintech startup is on a mission to resolve the “age-old” problem of manually-based Standard Settlement Instruction (SSI) systems via distributed ledger technology (DLT). Meenaghan, who has more than 20 years of financial services experience, the relatively new company want… Read More >>
FINRA to Tag Errant Firms as ‘Restricted’
If you’re a broker-dealer firm, you might want to mark June 1, 2023 on your calendar. That’s the enforcement start date for a new FINRA designation: Restricted. Restricted as in there’s a history of misconduct allegations against the firm. And restricted because the firm presents a “high degree of risk to the investing public.” So… Read More >>
Northern Trust Lands Asset Servicing Client & Other News
Holland College Taps Northern Trust Holland College, a community college on Prince Edward Island, has tapped custodian Northern Trust to provide asset servicing solutions such as custody, investment risk and analytical services, and benefit payment services, officials says. “Innovation and technology were key priorities for our institution when we went to market for a… Read More >>
Pershing X to Use Snowflake’s Data Cloud & Other News
Pershing X is Expanding Its Services The Pershing X technology provider and business unit of BNY Mellon reports that it hopes to bring new analytics and data management to clients via a collaboration with Snowflake, a data cloud provider. Pershing X is “expanding its stand-alone data service offerings to wealth management firms” via the Snowflake… Read More >>
Riding Out the Ripple Effects of the Bank Failures
The rapid collapse of Silicon Valley Bank and Signature Bank, and the troubles swirling around First Republic Bank, which offers private banking and wealth management services, are technically happening separately from global securities markets. But actual regulatory and operational impacts and the contagion of panic are causing real ripple effects upon regulators, other banks, and… Read More >>
SEC & CFTC Penalize Options Clearing Corp. for $22M
The Options Clearing Corp. (OCC), regarded as the largest equity derivatives clearing organization in the world, has announced settlements with the SEC and CFTC that add up to $22 million and are based on a self-reported case of shortcomings in meeting internal efforts to lower key operational risks. The cases revolve around the implementation of… 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 >>
