Asset managers, wealth management firms, banks, and broker-dealers across the world are likely to boost their market data budgets by 10 percent or more next year in “priority areas including equities, fixed income, and alternative data, and by at least 5 percent across other asset classes,” according to a study from market research firm Coalition… Read More >>
SimCorp & EDI Team Up on Corporate Actions & Other News
Duo to offer ISO 15022 Corporate Actions Data Exchange Data International (EDI), a financial and economic data provider, and SimCorp, an investment management solutions provider, have agreed to combine efforts to offer corporate actions data to their clients, officials say. “The integration of EDI’s Worldwide Corporate Actions Service within SimCorp’s integrated front-to-back investment management platform… Read More >>
Common Cloud Controls Will Expand Capabilities: FINOS
(The Fintech Open Source Foundation (FINOS) and financial services giant Citi recently announced that they launched an open standard project that will formulate consistent controls for cloud computing cybersecurity, resiliency, and compliance that cloud service providers (CSPs) can use as the basis for a common set of services. The “Common Cloud Controls (CCC)” effort is… Read More >>
Goldman Sachs Reportedly Hiring for Ops & Other News
Fed Concerns May Be Spurring Hiring Spree Goldman Sachs Group has reportedly been on a hiring spree for back-office operations and its compliance department positions as a result of supervisory issues raised by Federal Reserve officials, according to multiple media reports, including those from Bloomberg and Reuters. The Bloomberg report noted that the firm intends… Read More >>
Instinet Fined $3.8M for Alleged CAT Reporting Failures
Instinet has paid a $3.8 million fine to the Financial Industry Regulatory Authority (FINRA) and settled allegations that the institutional broker failed to fulfill its reporting obligation “timely and accurately” to the Consolidated Audit Trail (CAT) system from June 2020 to the present, according to the self-regulatory organization (SRO). The ambitious, big data, securities transaction… Read More >>
Bittrex Resolves SEC’s Charges for $24M
Crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, have settled with the SEC and will pay $24 million in disgorgement, interest, and penalties over allegations that the platform was functioning as an unregistered national exchange, broker, and clearing agency although the defendants neither admit nor deny the SEC’s allegations…. Read More >>
Watson Wheatley to Use Daymi’s APIs & Other News
New Links Will Help Users Manage iRecs Projects Watson Wheatley, a London-based provider of securities reconciliation, and Daymi, an interactive operations playbook provider based in Stockholm, have launched a connectivity partnership that will enable operations teams to better manage recurring projects, routines and tasks, officials say. “Using the API [application programming interface] connection that… Read More >>
Wedbush Pays $16M to Resolve Recordkeeping Problems
Accusations don’t equal proof of guilt. Lawyers for a certain much-indicted ex-president will tell you that. However, multiple accusations by credible accusers aren’t a particularly good look, whether for a politician or a registered futures commission merchant. Which brings us to Wedbush Securities. The Commodity Futures Trading Commission (CFTC) recently ordered Los Angeles-based Wedbush Securities… Read More >>
SS&C Bolsters Tier 1 CRM Platform & Other News
SS&C’s Tier 1 Gains Users & Features The Tier 1 capital markets and investment banking customer relationship management (CRM) platform from SS&C Technologies has been enhanced, has more than 1,000 new end-users, and has the support of more staff members, officials say. The new features “include improved data insights and in-app information delivery,” officials… Read More >>
DTCC Shuts Down Its GMEI LEI Utility
The DTCC has confirmed to FTF News that it is shutting down its Global Markets Entity Identifier (GMEI) utility and leaving the Legal Entity Identifier (LEI) services business by Aug. 22, and that the Global Legal Entity Identifier Foundation (GLEIF) will assign current LEIs to new, accredited local operating units (LOUs) as part of a… Read More >>
