With alternative investment firms in mind, officials say SS&C Technologies is offering a variety of new features and functions via updated software-as-a-service (Saas) releases of the Geneva, Eclipse, and OEMS products and services platforms. “We tailor our releases to the global marketplace. The recent advancements in our alternatives solutions illustrate our commitment to them to… Read More >>
Clear Street U.K. Launches & Joins LME
Clear Street has launched Clear Street U.K. in London, the first major step by the maker of cloud-native securities transaction services to expand beyond North America, officials say. Clear Street’s product suite includes offerings for financing, derivatives products, execution services, and futures clearing. Following approval by the U.K. regulator Financial Conduct Authority (FCA), Clear Street… Read More >>
ESMA Sets Target Date for E.U.’s T+1 Move
The European Union’s head regulator and supervisor, the European Securities and Markets Authority (ESMA), has set a definitive target date of Oct. 11, 2027, for the bloc’s highly anticipated transition to a T+1 settlement cycle. The announcement of the transition date is part of ESMA’s final report on shortening the settlement cycle, which includes the… Read More >>
A Glimpse at Gary Gensler’s Legacy
With the second Trump administration coming to power in January, Gary Gensler, chair of the Securities and Exchange Commission (SEC), is unlikely to be a part of the new team. During the campaign, Trump stated that he would replace Gensler. In fact, multiple media outlets have recently reported that Trump’s transition team is searching for a replacement… Read More >>
SEC Revises ‘Living Wills’ for Clearinghouses
The Securities and Exchange Commission (SEC) is revising the “living will” for covered clearing agencies (CCAs) through rule amendments and a new rule —approved late last month — all intended to boost the resilience, recovery, and wind-down planning for CCAs, officials say. “CCAs are registered clearing agencies that act as central counterparties, meaning that they… Read More >>
T+1 Paves the Way for Modernized Settlement
(In North America, the move to shorter T+1 settlement has helped BNY clients to refocus on the lifecycle of a trade in new ways as they strive for optimal clearing and settlement. So says Brian Ruane in a Q&A with FTF News. A member of BNY’s Executive Committee, Ruane is senior executive vice president and… Read More >>
U.K. to Leverage Its ‘Second-Mover’ T+1 Advantages
The U.K. Accelerated Settlement Taskforce (AST) recently released its interim report, presenting recommendations for the industry’s shift to shorter T+1 settlement. The task force has opened a brief consultation period to gather industry feedback on these recommendations. One key aspect of the task force’s strategy is learning from the U.S. experience with T+1 as part… Read More >>
SS&C Widens Its Embrace of Cutting-Edge Technologies
Chicago-based Choreo, LLC, a financial planning and investment advisory services firm, reports using SS&C Accord. This new service leverages artificial intelligence (A.I.) to help wealth managers aggregate and validate their customers’ alternative investment data. The SS&C Accord launch aligns with other A.I.-related and cutting-edge announcements at the SS&C Deliver 2024 Conference underway in New Orleans, Oct…. Read More >>
Combining A.I. & Recs Spurred NeoXam’s Acquisition of EZOPS
Adding artificial intelligence (A.I.) to data reconciliation was a key driver behind NeoXam’s acquisition of EZOPS, an A.I. provider for data control, workflow automation, reconciliation, and regulatory reporting solutions. NeoXam is a provider of data management, performance, reporting, portfolio management, and investment accounting software. “Combining reconciliation with A.I. technologies was central to NeoXam’s acquisition of… Read More >>
T+1 Hit Home Harder Than Expected
A new survey from Citi Securities Services is lifting the lid on the widespread ramifications of North America’s recent shift to T+1 settlement, with effects rippling across the entire trade lifecycle. While the DTCC, brokers, and custodians have remained relatively quiet since the May transition, Citi’s Securities Services Evolution 2024 survey shows that 44 percent… Read More >>
