Symphony to Unite Voice Trading with NLP Symphony, a messaging and platform provider for trading firms, reports that it is trying to “tackle true pain points in markets’ workflows” via the acquisition of trader voice/electronic communication and analytics company Cloud9 Technologies. The acquisition will help Symphony “take the lead in front office communications with new… Read More >>
FINRA Puts an Expiration Date on OATS
Self-regulatory organization, the Financial Industry Regulatory Authority (FINRA) is quietly putting an expiration date of September 1, 2021, on the Order Audit Trail System (OATS) as the Consolidated Audit Trail (CAT) reaches a new level of reliability. In typical legalese, FINRA officials released the following Regulatory Notice 21-21: “Effective September 1, 2021, FINRA is amending… Read More >>
Time to Learn More About Open Source?
Financial services firms are using a lot of open source software but there may be a gap in their understanding of how to manage the “opportunities and potential challenges” of the open source movement, according to the Fintech Open Source Foundation, also known as FINOS. FINOS is an independent, nonprofit organization whose mission is to… Read More >>
T+1 Update: Feedback Will Determine Time Frame
The push to shorten the U.S. securities settlement cycle from T+2 to T+1 by 2023 is well into the information-gathering stage via private industry workshops that will decide the details of the time frame for the transition, which is expected to be announced during the last quarter of this year. The workshops are also helping… Read More >>
Broadridge’s DLR Handles $31B in Repos Daily
Post-trade systems and services provider Broadridge Financial Solutions officially launched on June 7 its distributed ledger repo (DLR) platform for bilateral repo trades that executed $31 billion in average daily volume during its first week. The blockchain-based transaction platform helps market participants “agree, execute and settle repo transactions,” officials say. Broadridge is hoping that the… Read More >>
CFTC Mulls SOFR Start Date for Interdealer Brokers
MRAC Subcommittee Urges July 26 Start Date A key CFTC subcommittee is recommending that interdealer brokers replace the trading of U.S. Dollar linear interest rate swaps (IRS) based upon the London Inter-Bank Offered Rate (LIBOR) with the trading of IRS based upon the Secured Overnight Financing Rate (SOFR) starting July 26, 2021, and to continue… Read More >>
FNZ Can Have GBST’s Post-Trade Wares: CMA
The FNZ-GBST acquisition saga may be entering its final act as the Competition and Markets Authority (CMA) in the U.K. has reaffirmed its initial findings that their continued merger would reduce competition in the retail investment platform solutions space. This time around, though, the CMA has suggested that FNZ, a wealth management technology and investment… Read More >>
The 2021 FTF Awards Winners Unveiled!
Financial Technologies Forum (FTF) is pleased to announce that operational excellence and major achievements in financial technology innovation surged in 2020 as evidenced by the winners of the 2021 FTF News Technology Innovation Awards competition. The winners of the FTF Awards competition, now in its tenth year, are being announced today, June 7, and they… Read More >>
Top Banks Test Drive Intraday FX Swaps Platform
Tests Involve DLT & Non-DLT Technology NatWest Group, Deutsche Bank, Bank of Ireland, and Banca Mediolanum have been working with treasury teams at other large banks to test a platform for intraday foreign exchange (FX) swaps trading that involves distributed ledger technology (DLT) and non-DLT systems, officials at Finteum say. “The banks’ initiative to create… Read More >>
Gresham-Electra Is ‘Already Shaking Things Up’: Q&A
(Editor’s Note: Last week, two major reconciliation services competitors — Gresham Technologies plc and Electra Information Systems — announced that will be combining into one provider via Gresham’s $38.6 million acquisition of Electra. FTF News got time with Ian Manocha, CEO at Gresham, and this is the first part of a two-part Q&A chat. For… Read More >>
