Last week, in an FTF News story about a new white paper from financial messaging cooperative SWIFT, I focused on the toll that regulatory compliance is taking on financial services firms. I wasn’t able to delve into the corporate actions section of the SWIFT paper but I can do that now. As I noted, the… Read More >>
Regulatory Compliance Tops List of Ops Burdens
A white paper from financial messaging and systems cooperative SWIFT finds that regulatory concerns tower over other operational challenges for the buy side in 2015. Research commissioned by SWIFT also shows that buy-side firms are grappling with automation and financial crime compliance initiatives. The findings came as a result of survey and are offered via… Read More >>
Fed Wants LEIs for Certain Reporting Forms
The Federal Reserve Board on Monday, March 16, proposed that banking organizations be required to include their existing Legal Entity Identifiers (LEIs) on certain regulatory reporting forms, officials say. The LEI standard is a 20-character alphanumeric code that is universal and uniquely corresponds to a single legal entity. The LEI reference code enables easier identification… Read More >>
SWIFT Hires from Markit for Management Team
Financial messaging and systems cooperative SWIFT has hired industry veteran David Lefferts from financial information services vendor Markit, where he served in product development, cross-product strategy, and senior business development roles over eight years, officials say. At SWIFT, Lefferts will serve as a managing director, market initiatives for the Americas. Lefferts, who has more than… Read More >>
Finsapp and Volante to Build Solutions
Finsapp, a specialist system integrator for the SAP enterprise resource planning (ERP) software provider, and Volante Technologies, a provider of software for the integration, validation and processing of financial messages and data, report that they have entered into a partnership to build business domain solutions. The solutions will be “based on interbank, intrabank and bank… Read More >>
Volante Hires Senior Execs, Opens Offices
Volante Technologies Inc., a provider of financial data messaging integration, validation and processing tools, reports the appointments of Nadish Lad as head of payments product and Peter McKenna as global marketing director, as well as the addition of new development and testing staff and the opening of new offices, in Jersey City, N.J., and Hyderabad,… Read More >>
National Reference Data Groups Use SWIFTRef
Financial messaging and services cooperative SWIFT is making its SWIFTRef global reference data platform available for national reference data collection and maintenance services, officials say. The SWIFTRef platform is used to collect worldwide payments reference data for use by more than 5,500 financial institutions and 500 corporates globally, officials say. SWIFTRef data helps firms populate… Read More >>
DTCC’s LEI Utility Hits a Milestone
DTCC officials report that the Global Markets Entity Identifier (GMEI) utility, a local operating unit (LOU) of the growing global Legal Entity Identifier (LEI) system, has issued approximately half of all LEIs registered so far, or 165,000, to entities from more than 140 jurisdictions. The GMEI’s progress reflects the growth of the global machinery behind… Read More >>
SWIFT’s New CTO & COO Taking Over for Retiring CIO
Financial messaging and services cooperative SWIFT has hired a Verizon veteran Craig Young to be its new chief technology officer (CTO) and appointed SWIFT executive Marcel Bronmans as chief operations officer (COO), following a reorganization of the IT and operations division and the retirement of Mike Fish, SWIFT’s chief information officer (CIO) by the end… Read More >>
SWIFT to Rebate $35M to Users
Financial messaging and networking cooperative SWIFT is providing a 10 percent rebate on 2014 messaging fees because of “strong traffic growth” for its services, officials say. The cooperative expects to return $35.4 million or approximately €30 million to its users in March. “We have seen strong traffic growth this year as a result of our… Read More >>
