SEC Chair Gary Gensler is calling for a revamp of operations for U.S. fixed income markets — representing $53 trillion in securities — and is calling for price transparency, faster bond reporting, and more transparent post-trade processes, arguing that a new openness would improve counterparty risk management, bolster evaluations of trade execution quality, and increase… Read More >>
StanChart Uses A.I. for Onboarding Funds & Other News
Standard Chartered Joins the Saphyre Platform Standard Chartered’s capital markets division is using a platform that applies artificial intelligence (A.I.) to the onboarding process for new funds and for the maintenance of those funds, say officials at Saphyre, which is the name of the platform and the financial technology vendor that created it. The patent-approved… Read More >>
Is ESG Blurring Too Many Lines?
ESG-based investing efforts and their related operational adjustments are getting real for many securities firms. And the ESG push is beginning to blur many lines that many never questioned before. For those who have not been following ESG too closely, the Investopedia website offers a succinct definition: “Environmental, social, and governance (ESG) criteria are a… Read More >>
U.K. Authorities Push for Post-Trade Ops Overhauls
An influential U.K.-based task force focused on post-trade operations has issued a report calling for major changes in three “core areas:” non-economic trade data, client onboarding, and uncleared margin management. In addition, a key U.K. authority, the Fixed Income, Currencies and Commodities Markets Standards Board (FMSB), has promised to act on the recommendations. The FMSB… Read More >>
SIFMA Urges T+1 Start After Labor Day 2024
One of the leaders in the push for T+1 settlement, SIFMA has relayed in a letter to the SEC its recommendations for the start date of a shorter settlement cycle — Tuesday, Sept. 3, 2024 — and for rule changes that would mitigate “potential adverse consequences.” SIFMA, the Investment Company Institute (ICI), and The Depository… Read More >>
Yellen Urges a Cautious Approach to CBDCs
The concept of digital currencies run by central banks is counter to the chaos-driven cryptocurrency movement. But central bank digital currencies (CBDCs) are now seen in a very favorable light because of the protections and order they could bring to the crypto world. Even so, Secretary of the Treasury Janet L. Yellen earlier this month… Read More >>
BNY Mellon & Aon Form ESG Alliance & Other News
BNY & Aon to Focus on ESG Data & Analytics The Bank of New York Mellon Corp. (BNY Mellon) and Aon are partnering to focus on the environmental, social, and governance (ESG) needs of clients by combining their respective ESG data and analytics capabilities and unique data sets, officials say. The data and digital collaboration… Read More >>
DTCC to Explore Clearing & Settlement for U.S. CBDC
As cryptocurrencies and their inherent distributed ledger technology (DLT) gain ground in global markets, the U.S. government, among others, is exploring the creation of a central bank digital currency (CBDC) that would provide more protection for investors and financial services participants. Looking ahead to the onset of a CBDC, the Depository Trust & Clearing Corp…. Read More >>
Xignite Launches an ESG API & Other News
Xignite Partners with ESG Book A vendor of market data application programming interfaces (APIs), Xignite has launched an API for Environmental, Social and Governance (ESG) data that accesses the real-time sustainability dataset of ESG Book, a data vendor partnering with Xignite. The XigniteGlobalESG API encompasses “public companies domiciled in North America, EMEA, APAC, and Latin… Read More >>
Goldman Sachs Veteran Joins Bosonic & Other News
Bosonic Hires Paddy Boyle from Goldman Sachs Bosonic, which characterizes itself as a “decentralized Financial Market Infrastructure (dFMI) business with a real-time clearing and settlement service for crypto and digital assets,” reports that Goldman Sachs veteran Paddy Boyle has joined the firm as its global head of clearing and derivatives. Boyle, an industry veteran, is… Read More >>
