ABN AMRO Clearing Bank (AACB) and Levi9 Technology Services are collaborating to open an IT hub in Romania to better serve AACB clients via “global, high-end, and fast solutions,” officials say. The hub, based in Iași, Romania, will bring together Levi9 and AACB staff who will focus on “multiple IT applications and infrastructure,” officials say…. Read More >>
Is the Price Tag for T+1 Edging Upward?
Earlier this year, Bloomberg Intelligence (BI) estimated that the U.S. transition to T+1 settlement could cost the securities industry more than $31 billion a year, with the move reflecting “profound implications” for both the U.S. and global markets. For now, though, the full impact is still emerging, says Gerard Walsh, who leads Northern Trust‘s global… Read More >>
NT Hedge Fund Services Embraces Energy Trading
Northern Trust Hedge Fund Services (NTHFS) has added support for spots, forwards, futures, and physical contracts in energy and physical commodities to its Omnium platform in response to the growing number of asset managers who are trading in global energy markets, officials say. Officials say Omnium is a middle-office and accounting platform that supports an… Read More >>
India’s T+1 Journey Has Lessons for North America
Nearly a year-and-a-half before the U.S., Canada, Mexico, Argentina, and Jamaica transitioned to a shorter settlement cycle for equities, corporate bonds, and municipal securities, India quietly implemented its T+1 settlement cycle intending to enhance liquidity and operational efficiency for India’s growing domestic markets. India also appears to have made a cost-effective transition — which may… Read More >>
State Street & Taurus to Build Digital Custody Services
State Street Corp. is bolstering its digital asset solutions business via an agreement with Taurus SA, a digital asset infrastructure provider, in response to institutional interest in digital assets that’s “at an all-time high,” according to the Boston-based custodian bank. The collaboration will add tokenization and digital custody services support to the custodian’s currently available… Read More >>
Valverde Taps Broadridge for Investment Management System
Newcomer Valverde Investment Partners, a Singapore-based investment management firm specializing in ASEAN equities, will be using a portfolio/trade order management operations system from Broadridge Financial Solutions, officials say. The investment management solution is delivered on a software as a service (SaaS) basis and “provides a multi-asset platform with integrated order, portfolio, and risk management for… Read More >>
Firms Need to Prepare for Sec Lending Reporting
(Last year, the SEC approved Rule 10c-1a, intended to bring new transparency to securities lending transactions via reporting and dissemination requirements. Earlier this year, the Financial Industry Regulatory Authority (FINRA) proposed a new facility allowing covered securities loan transactions to be reported to the self-regulatory organization (SRO) for U.S. broker-dealers. The proposed system, the Securities… Read More >>
IPC Bolsters Ops Links via Google Cloud Alliance
(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 >>
Johnson Associates Projects Bonuses Up for Most Sectors
Recent market swings, jitters, and recession fears aside, bonuses may wind up higher for most Wall Street sectors after two years of steady declines, says Johnson Associates, Inc., a strategic compensation solutions provider based in New York City. The company is projecting “year-end incentives to be higher across almost all sectors” in its “Financial Services… Read More >>
