(Editor’s note: Communications and cloud connectivity provider IPC has become a Google Cloud Interconnect Partner, a collaboration intended to help IPC customers link to Google Cloud locations globally. The agreement will enable financial institutions that use IPC’s Connexus Cloud for order creation and placement, trade execution, market data delivery, clearing, settlement, and access to trade… Read More >>
E.U.’s Buy Side Wants T+1 to Happen Sooner
The German buy side is advocating for the earlier adoption of shorter T+1 settlement, amid growing calls for harmonization with the U.K. and Switzerland. The German Investment Funds Association (BVI), which represents 115 fund companies and asset managers with €4 trillion ($4.4 trillion) in assets under management (AUM), is pushing for the European Union to… Read More >>
Vistra Bolsters Fund Admin Services via Acquisition
Professional services provider Vistra has completed its acquisition of the fund administration and transfer agency business of Phoenix American Financial Services, Inc., officials say. The acquisition did not include Phoenix American’s aviation services business. “This transaction will expand Vistra’s presence and capabilities in the business-critical U.S. market, allowing it to provide deeper and broader end-to-end… Read More >>
SEC Kicks Off a T+1 Compliance Sweep
The U.S. Securities and Exchange Commission (SEC) has begun detailed examinations of industry participants to ensure compliance with its new T+1 trade settlement and recordkeeping requirements. Both investment advisors and broker-dealers are being audited to provide information on their policies, procedures, and records related to trade allocation, confirmation, and affirmation processes to the SEC’s Division… Read More >>
FIA Updates Best Practices for Credit Risk Mitigation
Post-trade controls, monitoring, and data collection are essential to mitigate the risk involved in the automation of exchange-traded futures, options, and centrally cleared derivatives. With the help of updated best practices, these controls can work well in conjunction with pre-trade controls to prevent credit events or unintended transactions. So says the Futures Industry Association (FIA)… Read More >>
T+1 Glitches Emerge Between U.S. & E.U. Settlement
At a recent European Securities and Markets Authority (ESMA) public hearing on T+1 settlement, market participants expressed confidence that misalignments caused by North America’s transition will be resolved once the European Union (E.U.) adopts a shortened settlement cycle. While North America’s transition to T+1 was largely uneventful, hailed as a success by many, including DTCC… Read More >>
Instinet Sells Fox River Business to Clear Street
Brokerage firm Clear Street, which leverages cloud-native, financial technology, has acquired the Fox River algorithmic trading business of brokerage Instinet, which only two years ago purchased the group from FIS. In October 2023, Instinet completed the purchase of the FIS Execution Services business, previously known as Fox River, from FIS. The original purchase agreement was… Read More >>
ANNA, DTIF & GDF to Build Links to Digital Assets
The Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTI Foundation) want to build “a strong foundation” that links traditional and digital finance through a new partnership with Global Digital Finance (GDF), officials say. The GDF is a non-profit association of member firms, which offers “an open innovation platform for advocating… Read More >>
Tokenized Securities Offer Many Ops Benefits
(The digital overhaul for securities trading and operations is moving quickly to the next chapter facilitated by blockchains, cryptocurrencies, tokenization, and more. To help those working in traditional securities operations, FTF News reached out to Thomas Sullivan, managing director-head of business development for digital assets at Societe Generale. Sullivan agreed to provide explanations on the… Read More >>
U.S. Treasury Clearing Rules Jolt Firms Into Action
Clearing is coming the U.S. Treasury market and buy- and sell-side firms are beginning to get the message. New SEC clearing rules for the U.S. Treasury market, which take effect next year and in 2026, will spur more sell-side firms to offer Treasury clearing via prime brokerage, agency clearing, and futures commission merchant (FCM) services… Read More >>
