George Orwell was mostly right in 1984 when he warned us against a Big Brother government that runs every aspect of our lives. What Orwell didn’t foresee was the emergence of other Big Brothers such as Wall Street behemoths facing off an overreaching government. He also couldn’t foresee the mess we’re in because of this… Read More >>
Could FIX Disrupt Post-Trade Processing?
Buy-side firms and vendors in the U.S. are exploring extensions of the FIX protocol to post-trade processes. But stretching FIX in this way will stir up battles over standard and proprietary protocols and whether post-trade processing should be done locally among firms or through a centralized matching system. The outcome of these battles may determine… Read More >>
Sibos 2013 Wrap
SWIFT customers will get “major structural price reductions for 2014” for FIN store-and-forward messages, say top officials at the financial messaging cooperative, which is hosting its Sibos 2013 conference in Dubai this week. Officials add that the 20% price cuts are intended to spur message traffic growth and €52 million in savings for customers.The new… Read More >>
More Sibos 2013 News
Debuting at Sibos 2013 in Dubai, the Misys Global Back Office system targets firms that need to centralize operational processing for multiple asset classes, trading systems and branches globally, say Misys officials. The platform offers a single data repository at its core, intended to help firms meet regulatory requirements and better control operational risk.The back… Read More >>
FSB Reports Progress on OTC Reform as SWIFT Debuts BIC-to-LEI Mapping
FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
OTC Collateral Reforms to Cost the Industry $53B as Capital Dynamics Details New Fund Management Platform
Celent Report: Price Tag for OTC Collateral Management Reform to Hit $53 Billion As derivatives clearing and collateralization reforms get underway, the financial services industry will spend more than $53 billion in infrastructure and technology investments to make their systems more operationally efficient, according to a new report from market research firm Celent.“We expect it… 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 >>
Filling the Leadership Void
As financial services firms scramble to comply with the onslaught of new regulations, they also have to contend with an absence of leadership among industry bodies tasked with helping create the new rules of the road. Yet the need for strong leadership is becoming more critical and a membership survey by the ISITC trade group… Read More >>
Misys and MarkitSERV Tackle NDF Clearing
Fund management clients of the Misys Confirmation Matching Service (CMS) asked Misys to help them meet their regulatory requirement by mid-year to clear non-deliverable forward (NDF) trades based on convertible foreign currency. This led to a partnership with MarkitSERV, an over-the counter (OTC) derivative transactions clearing gateway, to transport these FX derivatives to central counterparty… Read More >>
FinTech Spotlight: Electra, Eze Castle Integration and SWIFT
(Editor’s Note: This week we focus on new offerings from Electra Information Systems and Eze Castle Integration, and a challenge from SWIFT’s Innotribe group.) Electra Debuts Quantum Fee Calculation System Post-trade solutions provider Electra Information Systems has officially moved into the fee calculation and invoicing realm with the launch of the Quantum software system that… Read More >>
