Fenics, a provider of FX options software, reports that Yuanta Bank, a Taiwanese commercial bank, has connected to Fenics Gateway and also extended its Fenics Professional license. Fenics Gateway is a hosted messaging hub connecting multibank and single bank transactional venues to FENICS Professional clients, according to a company statement. “It allows STP [straight through… Read More >>
Could FIX Help Firms Avoid Fines for Slow Settlement?
(Editor’s Note: Using the FIX electronic trading protocol for trade affirmations could ease some of the burdens of shortened settlement cycles, and may prevent fines for European firms facing new requirements for faster settlement, says Steve Grob, director of group strategy for London-based electronic trading platform and services vendor Fidessa Group. Over the past year,… Read More >>
T+2 to Expose Buy Side’s Shortcomings
The now-global push to shorten settlement cycles for securities transactions will profoundly challenge the buy side’s lack of investment over the years in automated, back-office infrastructures, particularly at Tier-2 and Tier-3 firms, according to a new report from market research firm Aite Group. In fact, for all firms, the move to settlement two days after… Read More >>
A Standard for Collateral Management Settlement?
SWIFT, the DTCC and AcadiaSoft, maker of a margin messaging platform, are exploring ways via preliminary tests with clients to standardize an infrastructure for bilateral and tri-party collateral management settlement. But some industry observers want independent industry groups without a profit motive to lead these much-needed efforts to end manual processes and reduce systemic and… Read More >>
Revive Us Again, STP
For those who thought straight through processing went out with the “Macarena,” think again. Financial messaging cooperative SWIFT wants STP off the shelf where it lingers as a quaint notion. “All the building blocks for a new post-trade process are there,” concludes SWIFT in a new white paper. “What’s needed is community-level commitment to build… Read More >>
