Officials at post-trade technology provider SmartStream say that their Transaction Lifecycle Management (TLM) Collateral Management solution, version 7.0, bolsters straight through processing via new workflow automation support for margin, interest, and substitution calls. The changes are intended to help financial services firms that face rising costs, regulatory pressures, increased risk profiles, and that need “better… Read More >>
Japanese Asset Manager Taps DTCC’s ITP Services
Sumitomo Mitsui Trust Asset Management has become a client of the Institutional Trade Processing (ITP) suite of services from the DTCC to fully automate its post-trade processing and for same day affirmation (SDA) for cross-border transactions within Asia-Pacific, officials say. This move is in line with the industry push to accelerate trade processing as North… 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 >>
Momentum is Building for T+1: Q&A
(Editor’s Note: The COVID-19 pandemic impacted many aspects of securities operations and the DTCC just released a white paper, “Managing through a Pandemic: The Impact of COVID-19 on Capital Markets Operations,” that explores how securities operations teams functioned during the worst of the lockdown. The report acknowledges that firms will “further automate” post-trade lifecycles and… Read More >>
St. James’s Place Moves to SS&C’s Bluedoor
With the help of SS&C Technologies, the London-based St. James’s Place Wealth Management (SJP) has migrated its £69.1 billion ($86.3 billion) in customer accounts from a legacy mainframe application to SS&C’s Bluedoor and Percana Insurance solutions in an effort to give end-user clients a single view across pensions and savings products, officials say. SS&C made… Read More >>
SWIFT Says FX Ops Needs ISO 20022
Financial services messaging consortium SWIFT is calling for the increased automation of foreign exchange (FX) transactions via more standards that will ease data exchanges and will facilitate the nirvana of straight through processing (STP). “By removing barriers to exchange, standards always increase the amount of business done,” according to “The Value of Standards in the… Read More >>
World Bank Signs Licensing Agreement with SimCorp
World Bank Deployment to Cover Middle and Back Offices SimCorp, which provides investment management products and services to the financial services industry, reports that the World Bank has licensed SimCorp Dimension, the vendor’s investment management system. The agreement was signed in late 2018, per SimCorp. Under the agreement, the World Bank has licensed SimCorp’s “middle… Read More >>
Buy-Side Firms Need Help Amid Disruptions: Q&A
(Disruptions via technology, regulators and market conditions are spurring major changes in operations for many buy-side firms, says Marc Mallett, who serves as vice president for sales and product management for SimCorp North America. On his LinkedIn page, he describes himself as being responsible for the company’s sales, presales and product management. He lists as… Read More >>
Finastra to Sell CMC Business Unit to Teranet
Teranet’s CM Solutions Will Acquire the Shares of CMS London-based financial software vendor Finastra, formed in 2017 by the combination of Misys and D+H, reports that it has entered into a definitive agreement to sell its Canadian-based Collateral Management Corp. (CMS) business to Teranet. Teranet’s affiliated entity CM Solutions Inc. will acquire the issued and… Read More >>
FTF Awards Gala Q&A: Portfolio Fragmentation Will Spur More Scrutiny of Disputes
(Editor’s note: As regulatory reforms regarding collateral take hold at financial services firms, there have been challenges for firms to access enough eligible collateral to meet margining and related requirements. While the regulatory reforms are intended to lower risk and facilitate optimal execution, the situation has become much more complicated. In addition, collateral management has… Read More >>
