The controversial Consolidated Audit Trail (CAT), which has already been fending off lawsuits and industry pushback, has had “instances of millions if not billions of late or inaccurately reported order events,” says Bill St. Louis, executive vice president and head of enforcement at the Financial Industry Regulatory Authority (FINRA). The need to stay on top… Read More >>
Beeks & STT Team Up for Clearing & Settlement Service
Financial cloud solutions provider Beeks Financial Cloud Group is partnering with trading and clearing provider Securities & Trading Technology (STT) to offer a managed service that incorporates clearing, settlement, trade execution, risk management, and surveillance, officials say. The timing was the driving factor for the collaboration between STT and Berks Group as they want to… Read More >>
Firms Must Capture Risky Communications: Q&A
(Gone are the days when financial services firms could tightly control contact between staff and clients and limit the behavior that facilitates transactions. But, in 2022, firms have to capture a growing list of digital interactions such as unified communication (UC) and web collaboration platforms such as the popular Microsoft Teams, Zoom, Symphony, and Cisco… Read More >>
Scotiabank Fined $127M for Price Fixing & Spoofing
The Bank of Nova Scotia (Scotiabank) is settling major criminal and civil charges that it engaged in price-fixing and spoofing efforts via precious metals futures contracts. The Toronto-based bank has signed separate agreements with the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC), with the combined fines totaling approximately $127.5 million. The… Read More >>
Trade Surveillance Platform Offers Self-Service Analytics
NICE Actimize, a financial crime, risk, and compliance solutions vendor, is enhancing a key trade surveillance solution with a self-service, analytics capability, intended to help financial services firms fill common surveillance gaps. Dubbed the SURVEIL-X Studio, the new component of the SURVEIL-X Holistic Trade Surveillance solution adds coverage that is not part of the out-of-the-box… Read More >>
BlackRock’s Aladdin Moves to Microsoft’s Azure Cloud
Aladdin to Get Scalability, More Client Capabilities Microsoft will be hosting the infrastructure for the BlackRock’s Aladdin investment management and operations platform via the Microsoft Azure cloud platform, a move that the asset manager says will facilitate scalability for computing power and new client capabilities. BlackRock and Microsoft Corp. formed a hosting partnership for Aladdin,… Read More >>
ATS Firm Broadens Surveillance via Enterprise-Wide Platform
A broker-dealer/alternative trading system, PDQ ATS, has deployed the Validus run-time enterprise risk and compliance platform from Eventus Systems in order to get a broader view of risk exposure, say officials at the firm and the vendor. From its headquarters in Glenview, Ill., PDQ ATS provides liquidity aggregation for market participants via an auction process,… Read More >>
NICE Actimize System Offers Cross-Asset Surveillance
Risk and compliance vendor NICE Actimize has launched a “compliance-as-a-service” cloud-based offering that promises to provide surveillance capabilities across multiple asset classes. The new Actimize Cross-Asset Cloud Markets Surveillance solution will also offer case management capabilities to help financial services firms formulate their enterprise-wide scans for risk, vendor officials say. “Cross asset is extremely important… Read More >>
UBS Securities to Deploy Risk and Surveillance Platform
UBS Securities has begun to implement a risk and surveillance platform that will centralize the viewing of trading, operations, compliance and risk management information. The firm is deploying the Validus platform from Eventus Systems, an Austin, Texas-based software provider that offers solutions for processing and analyzing data across an organization. “Implementation of Validus has just started,”… Read More >>
Newcomer Eventus Debuts Ops Platform
New financial technology vendor Eventus Systems is debuting the Validus platform, which features “multi-stream data reconciliation,” officials say. The vendor says the platform is “a new way to capture and organize data flows and then process, reconcile, transform and pipeline that data in order to accurately report on risk,” officials say. “The platform is built… Read More >>
