CHS Hedging, a registered futures commission merchant based in Inver Grove Heights, Minn., is paying a penalty of $6.5 million to the Commodity Futures Trading Commission to settle charges that it had inadequate anti-money laundering (AML), risk management, recordkeeping, and supervisory controls over a trading account of a cattle rancher running a $244 million “Ghost… Read More >>
LSEG Buys Acadia to Bolster Post-Trade Wares
The London Stock Exchange Group (LSEG) has acquired Acadia, maker of margin calculation and risk mitigation offerings, in a bid to expand the LSEG’s post-trade wares for the uncleared derivatives transaction space, officials say. Acadia offers risk management, margining, and collateral services to help securities firms navigate uncleared, over-the-counter (OTC) derivatives markets. Acadia offers product… Read More >>
Northern Trust & EDS Target ESG Workflows & Other News
Northern Trust & Equity Data Science Create ESG Tool Northern Trust and Equity Data Science have launched what they describe as a workflow solution for environmental, social, and governance (ESG) data intended to “allow investors to more quickly access and share ESG information,” officials say. The solution is described as an “ESG digitized data aggregation… Read More >>
FINOS Adds Seven Members to Boost Initiatives
A major force behind the open source movement for financial services is bolstering its initiatives with seven new members from the realms of regulatory technology, data quality management, and distributed ledger technology (DLT)/blockchains. The nonprofit Fintech Open Source Foundation, also known as FINOS, reports that it is adding REGnosys, Blockchain Technology Partners (BTP), ControlPlane, Luxoft,… Read More >>
Credit Suisse Settles Great Recession Case for $495M
The New Jersey Attorney General’s Office has reached a $495 million “settlement in principle” with Credit Suisse to resolve “allegations of fraud and deceit in the sale of the toxic mortgage-backed securities,” that fueled the 2008 financial crisis. For those who might have forgotten: That was the financial crisis that rocked Wall Street at the… Read More >>
Kim Kardashian Faces Harsh Crypto Realities
A reality star is facing the harsh truths of the world of cryptocurrencies and digital assets, and the consequences of a busy regulator who is closely watching celebrities endorsing a garden variety of cryptocurrencies, tokens, and other digital assets as securities. The SEC has just settled with reality star Kim Kardashian “for touting on social… Read More >>
Broadridge Links NYFIX to Coinbase Prime & Other News
Broadridge & Coinbase Target Buy-Side Firms Broadridge Financial Solutions is partnering with crypto exchange Coinbase to provide an integrated solution that enables NYFIX clients to route order flow to Coinbase Prime via the FIX protocol for electronic trading, officials say. The partnership will also allow “buy-side traders to source crypto liquidity from Coinbase and trade… Read More >>
24 States Forbid ESG Investing via Public Pension Funds
A major Republican backlash is underway in at least 24 U.S. states against public pension fund managers making investment decisions based upon environmental, social, and governance (ESG) concerns and principles. Those leading the backlash say that when the ESG filter is applied to investment decisions, it leads to portfolio losses, which harm pensioners. Non-ESG investments… 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 >>
What Does a Post-UMR World Look Like?
(FTF News recently spoke with Chris Walsh, the CEO of Acadia, about the world of derivatives trading after the Uncleared Margin Rules (UMR) reforms take hold — the UMR Phase 6 deadline is September 1, 2022. An industry veteran, Walsh held key roles at NYSE Technologies, NYFIX, and Thomson Financial before Acadia, which was once… Read More >>
