Julian Trostinsky Joins Gresham Technologies Gresham Technologies plc has named Julian Trostinsky, an industry veteran and an ex-Duco vice president, as its new “global director of customer success.” Gresham is a fintech provider of real-time processes, procedures and reconciliation capabilities that are intended to provide “data integrity and control, banking integration, payments and cash… Read More >>
DTCC Moves Ahead with DLT-Based Settlement Platform
The DTCC is moving ahead with its alternative securities settlement platform —the Project Ion initiative — based upon distributed ledger technology (DLT) after “a successful prototype pilot” with market participants, officials say. The prototype pilot showed that DLT could support the shorter settlement cycles of trading day plus one (T+1) and settlement on the trading… Read More >>
No Showstoppers for T+1 Overhaul: ISITC Panel
While no one would mistake the T+1 shorter settlement drama for a joyous Broadway musical, there are not likely to be any showstoppers as the securities industry transitions to a one-day settlement cycle after execution for U.S. equities. But there’s a lot of work ahead. So says a panel of experts assembled by ISITC for… Read More >>
Raymond James Boosts STP by 40 Percent
Raymond James Deploys Syn-TAC Upgrade Raymond James officials report that they have renewed an existing contract for GBST’s middle-office post-trade solution, Syn~TAC, in a bid to boost the firm’s straight through processing (STP). A GBST client for more than seven years, the firm has also completed an upgrade to the latest version of Syn~TAC, officials… Read More >>
State Street & Spaulding Partner for GIPS Compliance
Partnership Targets Performance Measurement State Street is partnering with the Spaulding Group to offer performance services and operational support to asset owners that want to streamline Global Investment Performance Standards (GIPS) compliance, officials say. An investment performance measurement services provider, Spaulding offers educational, consulting, and verification capabilities that will be combined with State Street’s performance… Read More >>
Corporate Actions Ops Are Stuck in Manual: Survey
But Firms Want Real-Time Corporate Actions Data A new report based on survey results reveals that slightly more than “three-quarters of respondents (78 percent) still process part of their corporate actions manually, with 40 percent processing more than half of their corporate actions in this way,” according to research sponsored by data and infrastructure services… Read More >>
ASX Identifies the Causes for its 2020 Outage
The equity market of the Australian Stock Exchange (ASX) suffered an outage last November following the implementation of a new version of the Nasdaq equity market trading system. Shortly thereafter, ASX officials commissioned an independent review to provide an explanation for trading interruption. Released last week, the preliminary results of the review indicate the updated… Read More >>
State Street Adopts Hybrid Model & Closes NYC Offices
State Street to Exit Midtown Manhattan The Boston-based State Street will be closing its midtown Manhattan offices and embracing a hybrid working model in response to staff members that have been working remotely in the wake of the COVID-19 pandemic, according to a prepared statement from the custodian banking giant. “Like most other companies, we… Read More >>
SIFMA, ICI, DTCC Seek SEC’s Help with T+1
The major backers of the move to shorten the U.S. securities industry settlement cycle from T+2 to T+1 by 2023 are moving full speed ahead as they reach out via a letter to the SEC about potential regulatory changes. Officials from the Securities Industry and Financial Markets Association (SIFMA), the Investment Company Institute (ICI), and… Read More >>
SmartStream Applies A.I. to Recs Processes
SmartStream Air Version 4 Gets an A.I. Refresh Post-trade solutions vendor SmartStream Technologies recently launched SmartStream Air Version 4, an application update that uses artificial intelligence (A.I.) technology to support real-time and continuous reconciliation processes, officials say. The update “will allow customers to use a much wider range of processing, including payment reconciliations, which is… Read More >>
