When the North American securities industry starts settling trades the day after they’re executed in May 2024, it will be the culmination of a process dating back at least 30 years. Shortly after the Securities and Exchange Commission (SEC) cut the trade settlement cycle in 1993 to the third business day following trade execution (T+3)… Read More >>
NYFIX Launches Real-Time Recs & Other News
New Offering Matches Fills In Real-Time A FIX protocol-based reconciliation offering, dubbed NYFIX Fill Matching, has been launched by post-trade systems and services provider Broadridge Financial Solutions, which adds that the solution compliments Broadridge’s post-trade NYFIX Matching solution. NYFIX Fill Matching targets the needs of asset managers “with high volume and/or high-touch orders,” according to… Read More >>
SIFMA Wants SEC to Drop PDA Ban & Other News
SIFMA: SEC Rule Puts Too Many Limits on Firms Securities industry trade association SIFMA and its Asset Management Group (AMG) are strongly urging the SEC to abandon proposed rules that would end or nullify the use of predictive data analytics (PDA) and PDA-like technologies by broker-dealers and registered investment advisors (RIAs). In August, the SEC… Read More >>
SEC Pushes More Transparency in Securities Lending Ops
Clearly, the SEC is not superstitious as it announced this past Friday the 13th major changes for securities lending via the adoption of new Rule 10c-1a. I think the industry is hoping the changes may help securities firms make the most of whatever good luck comes their way. In its announcement, the SEC focused on… Read More >>
Securities Lending Revenue Rose in Q3 & Other News
Securities Finance Industry Revenue Hit $2.65B in Q3 With the onset of T+1 shorter settlement, securities lending has come under a lot of scrutiny, but one aspect of the global securities finance industry appears to have an upside: revenue for this sector is rising. “The global securities finance industry generated $2.65 billion in revenue… Read More >>
Schroders Taps Xceptor to Manage Aladdin Data Flows
The London-based Schroders deployed the data automation offerings of Xceptor to move much of its key business onto the BlackRock Aladdin investment operations platform and wound up using Xceptor again for processes not involving Aladdin. “Schroders’ strategic aim was to get as much of their business onto Blackrock Aladdin and their core supporting platform,” Josh… Read More >>
T+1 Will Initially Mean More Settlement Fails: Q&A
(FTF News recently got time with Robert Walley, principal, financial services at consultancy Deloitte, to discuss the securities industry’s move to a shorter settlement cycle of trading day plus another day, a.k.a. T+1, which is underway in North America. Walley leads Deloitte’s capital markets and global financial markets industry sectors. He helps clients with transformations… Read More >>
UBS Embraces a DLT-Based Sponsored Repo Platform
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 >>
