SEC: Current NMS Has Too Many Conflicts of Interest Citing conflicts of interest in the current national market system (NMS), the SEC is ordering equity exchanges such as the Nasdaq Stock Market and New York Stock Exchange, and FINRA, the self-regulatory organization (SRO) for U.S. broker-dealers, to revamp and improve the governance of market data… Read More >>
ESG Data Will Be Normalized for Investing: Q&A
(Paul Fahey, head of investment data science, asset servicing, Americas, Northern Trust, took questions from FTF News about the concerns that operations staff have about the environmental, social, and governance [ESG] data and factors that they are likely to encounter as part of their support for the investment process. In his post at Northern Trust,… Read More >>
SS&C Buys MFA Business from Iress & Other News
Acquisition to Help SS&C’s Transfer Agent Business Iress, a trading software and services provider, is selling its managed funds administration (MFA) business to SS&C Technologies, which will use the acquisition to strengthen its position as a transfer agent in Australia, officials say. Iress is based in Melbourne, Australia. “The MFA business [from Iress] is… Read More >>
Firms Want More ESG Data: Report
“More than nine in 10 executives plan to increase ESG data spend, but data linkage and managing multiple vendor feeds dilute value,” according to a recent survey by market data and news giant Bloomberg and market research firm Adox Research. Adox provides “advice and marketing for banks, asset managers, custodians, and tech providers.” “ESG,” as… Read More >>
ISDA Docs Expert Launches Online Course & Other News
Course Targets Firms that Use ISDA Master Agreements Edyta Knizewska, a derivatives documentation expert, reports that she is offering an online course about “understanding and negotiating ISDA Master Agreements.” The master agreements “govern over-the-counter derivatives transactions,” and Knizewska, a legal consultant, negotiator and derivatives lawyer wants to offer her experience through her ISDA Lab course…. Read More >>
Is Tokenized Gold the New Collateral?
(Anoushka Rayner, head of growth — commodities, at Paxos, maker of a regulated blockchain and tokenization infrastructure platform, wants financial services firms to think about how their dormant assets like gold could become collateral alternatives to the U.S. dollar. Paxos officials say that their system, which offers “multilateral payment netting and simultaneous settlement for the… Read More >>
T+1 Will Overhaul Securities Lending: Report
A new report from Citi — “Securities Services Evolution 2023” — argues that the move to shorter, T+1 settlement will leave no one in securities operations untouched. However, the report strongly argues that securities lending is in for a rollercoaster ride as securities firms move to T+1. Firms and other market participants will need to… Read More >>
Market Data Budgets to Rise by 10%: Report
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 >>
