A month after it was officially acquired by Deutsche Börse Group, SimCorp, an investment management platform provider, will be merged with Axioma, a maker of factor risk models, portfolio construction tools, and multi-asset class enterprise risk solutions. SimCorp and Axioma are subsidiaries of Deutsche Börse Group, which should ease the merging process. The SimCorp-Axioma integration… Read More >>
Open Source Projects Hit Their Stride on Wall Street
The open source movement for financial services firms on Wall Street and beyond is hitting its stride, says the Fintech Open Source Foundation (FINOS), which reports there is widespread adoption of open source software, standards, and best practices. And more open source projects are going into production, FINOS says. For instance, Morgan Stanley and Wellington… Read More >>
Crypto Assets May Get ISINs & Other News
ANNA & DTIF Sign an MOU Two key standards bodies are paving the way for a “phased introduction” of new International Securities Identification Numbering (ISIN) tags for crypto assets — an effort that is intended to bring more transparency to securities and crypto markets. The ISINs to come would create a “mapping between financial assets… Read More >>
FinCEN Helps Firms Red Flag Financing for Hamas
The weapons of modern war include tanks, missiles, and jet fighters launched from aircraft carriers far out at sea. Governments can draw on national treasuries to fund the monumental costs of that kind of war in the 21st Century. But where did Hamas, a terrorist organization based in an impoverished refugee camp with few financial… Read More >>
SEC Rule to Spur Sec Lending Reporting Platforms
The SEC is changing securities lending via a new rule and that will cause securities firms to develop their own reporting platform or use a third-party reporting agent, says Kevin McNulty, managing director, head of RegTech Solutions at Equilend, a securities lending platform provider. The rule requires firms to report securities lending data to a… Read More >>
Morgan Stanley White Labels BNY Platform & Other News
MSIM to White Label BNY’s LiquidityDirect Custodian BNY Mellon reports that Morgan Stanley Investment Management (MSIM) is the first white-label client of BNY’s LiquidityDirect, a liquidity management solution that combines technology, connectivity, and client service, officials say. Financial services firms can offer short-term investments by using LiquidityDirect’s technology and services “through a single sign-on for their… Read More >>
Emerging PE Firms Must Bolster Ops IT: Survey
Emerging managers in the private equity space are facing the tightly related challenges of having to increase their allocation to private debt and private equity over the next 12 months while also bolstering their operational technology to meet the transparency and reporting demands of limited partners (LPs). This is the topline result of a survey… Read More >>
BBH Takes Aim at Latencies in Securities Lending
(To help its securities lending clients with their transition to T+1 shorter settlement, Brown Brothers Harriman (BBH) is examining securities loan recall lifecycles to find any latencies that may be caused by batch processing or bespoke messaging for Swift processes, says Sarah Holmes, global head of securities lending at BBH. In her new role, Holmes… Read More >>
DSB’s UPI Service Targets Swap Reporting Regs
The Derivatives Service Bureau (DSB) reports that it has launched a service, dubbed the Unique Product Identifier (UPI), that industry participants will be required to use for swap recordkeeping and reporting to trade repositories, giving authorities a new view into potential systemic risks. Officially, UPI has been established as International Organization of Standardization standard (ISO)… Read More >>
DTCC Embraces Digital Asset Ops via Securrency Acquisition
Post-trade infrastructure provider DTCC is acquiring a tokenization infrastructure company Securrency Inc., led by CEO Nadine Chakar, creating a bridge to the “acceptance and adoption of digital assets” in securities operations, DTCC officials say. After the acquisition is finalized, Securrency, whose offerings include its Capital Markets Platform, Compliance Aware Token Framework, and Digital Asset Composer,… Read More >>
