Swiss investment banking giant UBS reports that it is live on a sponsored repo solution based upon distributed ledger technology (DLT), a.k.a. blockchain technology, that was developed by provider Broadridge Financial Solutions. UBS is no stranger to Broadridge’s application of DLT to repo trades as the bank completed “its first cross-border intraday repo transaction on… Read More >>
T+1 Leaves Little Time for Settlement Fixes: Q&A
(The North American push for securities settlement within the trading day plus another day, a.k.a. T+1, is not going leave much time for fixing failed settlement efforts, says Jonathan Ehrenfeld, who is head of securities strategy for the Swift financial message cooperative. Ehrenfeld is responsible for Swift’s securities, foreign exchange, and digital assets strategies and… Read More >>
Baton Debuts Cash Settlement via DLT & Other News
Solution Uses DLT Workflows from Baton Systems Baton Systems has launched a real-time solution for cash settlement based upon distributed ledger technology (DLT), dubbed Core-Payments, which tracks and reconciles inbound cash settlements and helps firms “orchestrate the release of outbound cash payments,” officials say. The new solution, which Baton Systems says is being deployed by… Read More >>
T+1 Could Expose Ops Woes for Many Firms
The pain, suffering, and costs of doing business in the global securities industry are likely to increase as a result of the push for shorter settlement cycles, which is underway in the U.S. and Canada as firms there transition to trading day plus one, a.k.a. T+1. That was one of the unvarnished takeaways from a… Read More >>
SIFMA Criticizes SEC’s Rulemaking Under Gensler
SEC Chair Gary Gensler has recently come under fire for the 63 new rules that have been proposed during his time at the helm. One of the most prominent voices in the U.S. securities industry Kenneth E. Bentsen, Jr., president and CEO of SIFMA, is taking on Gensler and is offering data to back up… Read More >>
SmartStream Picks a New CEO & Other News
Akber Jaffer Replaces Haytham Kaddoura as CEO SmartStream, the post-trade operations solutions provider, has appointed Akber Jaffer as its new chief executive officer (CEO), effective September 19. Jaffer replaces Haytham Kaddoura, who has stepped down from the CEO post. Kaddoura will join SmartStream’s board. Jaffer has “spent several years immersed in both start-up and scaled… Read More >>
JPMorgan & TCS Expand Alliance & Other SIBOS News
While SWIFT’s SIBOS conference and exhibit is known for serving many financial services sectors at once, the securities community at the weeklong event in Toronto last week had a lot to explore, including the news from JPMorgan, which added corporate actions processing support from TCS, EquiLend embracing DLT, and Duco exploring new technologies. JPMorgan Securities… Read More >>
DTCC & Others Want Ops Standards for Digital Assets
Clearing agencies DTCC, Clearstream, and Euroclear on September 18 called upon the financial services sector to develop industry standards for digital assets, including blockchain/distributed ledger technology (DLT) for trading digital securities and tokenized securities. Without industry standards, the growth of digital assets in the financial sector will slow and even stall, argue the agencies, which… Read More >>
SEC Proposes IT Amendments for EDGAR
Fall is in the air. And that means big new movies and TV shows (despite the strikes by Hollywood writers and actors). This year, the U.S. Securities and Exchange Commission (SEC) has gotten into the spirit of the season with a proposal to amend EDGAR. EDGAR, as we all know, is shorthand for the Electronic… Read More >>
Broadridge Explores Advancing Ops via Artificial Intelligence
Broadridge Financial Services is exploring how artificial intelligence technologies combined with the provider’s logical data model BRx can be applied to capital markets, including front-to-back-office applications across asset classes. The proof-of-concept (POC) effort has only been underway for the past three weeks, says Hugh Daly, general manager, data and enterprise solutions, at Broadridge. Daly told FTF News about the… Read More >>
