The pain, suffering, and costs of doing business in the global securities industry are likely to increase as a result of the push for shorter settlement cycles, which is underway in the U.S. and Canada as firms there transition to trading day plus one, a.k.a. T+1. That was one of the unvarnished takeaways from a… Read More >>
Options Plans to Hire 200 Over 3 Years & Other News
200 New Jobs Are Coming to Belfast Options Technology, a provider of cloud-enabled managed services, plans to “create 200 new jobs in Belfast over the next three years” as it expands its operations, officials say. The company is headquartered in Belfast City Centre’s Linen Loft building. The company added “100 new team members” over the… Read More >>
T+1 Will Overhaul Securities Lending: Report
A new report from Citi — “Securities Services Evolution 2023” — argues that the move to shorter, T+1 settlement will leave no one in securities operations untouched. However, the report strongly argues that securities lending is in for a rollercoaster ride as securities firms move to T+1. Firms and other market participants will need to… Read More >>
ISITC Explores Tokenized Commodities & Other News
ISITC & TCC Form Partnership Securities operations standards group ISITC has begun a partnership with the Tokenized Commodities Council (TCC) “to advance the understanding and adoption of digitized real world assets,” officials say. The nonprofit trade association TCC is “dedicated to educating the investment community and wider public about the benefits of and best practices… Read More >>
Confluence Technologies Unveils TSR Tool & Other News
New Tool Helps Firms Meet SEC Rule Confluence Technologies has unveiled “Confluence Unity Rex,” which it says is a tool that will help firms comply with the SEC’s Tailored Shareholder Reports (TSR) rule. The solution provider says that Confluence Unity Rex “mines and pinpoints discrepancies in language and numeric information between financial reports,” and that… Read More >>
Acadia Launches an IM Recalibration Tool & Other News
Acadia Solution Compares ISDA SIMM Versions Acadia, a maker of risk mitigation services for derivatives trading, has launched a web-based offering, dubbed IM Recalibration Analytics (IMRA), that is intended to help firms assess the impact of the new ISDA Standard Initial Margin Model (ISDA SIMM), a methodology that helps securities firms calculate initial margin for… Read More >>
BT Trading Integrates Flexenet Private Wires & Other News
BT and Flexenet Launch Partnership BT officials can now offer Flexenet Private Wires connectivity “fully integrated with its BT Trading unified communications and collaboration (UCC) platform” via a new partnership between BT and Flexenet. Officials from both companies report that the new partnership is intended to provide clients with more options for cloud-based trading floor… Read More >>
Adopt a Single Strategy & Functional Approach for T+1: Q&A
(Stephane Ritz, a managing principal at consultancy Capco, has more than two decades of experience in the administration and management of professional services for the banking, finance, and investment industries. His areas of expertise include financial accounting and taxation to business process re-engineering and IT technology implementation. Ritz specializes in leading large-scale, complex business transformations across… Read More >>
DLT-Based Ops Will Need Guardrails: Report
As more securities operations use distributed ledger technology (DLT), policymakers, regulators, and market participants need to identify regulation, supervision, and risk management practices that “support appropriate stability and protections for all industry stakeholders,” according to a new report, “The Impact of Distributed Ledger Technology in Global Capital Markets.” The report is the result of a… Read More >>
Securities Tainted via Sanctions Up by 262% & Other News
Sanctioned Securities Creating New Woes for ETFs Data vendor SIX reports that the “number of securities tainted by sanctions has increased by 262 percent since the Ukraine war began in February 2022,” which creates a new set of operational problems for buy and sell-side firms especially those working in exchange-traded funds (ETFs). The discovery stems… Read More >>
