In an attempt to bring more automation to post trade operations, global financial messaging provider SWIFT has tapped reconciliation solutions vendor SmartStream Technologies to develop a cloud-based version of the SWIFT confirmation matching platform, dubbed Accord, say officials at the Sibos 2012 conference underway in Osaka, Japan. The SWIFT event is at the INTEX center… Read More >>
Making Strides to Improve Corporate Actions Services
Service providers that notify clients of corporate actions have to be change agents if they want customers to replace fax machines and manual processes with XML-based standards, web-based applications, SWIFT services and mobile devices, according to a panel discussion at the Sixth Annual Corporate Actions Processing Conference, presented last week by Financial Technologies Forum (FTF)…. Read More >>
Douglas Jeffrey Leaves Information Mosaic as SWIFT Plans to Hire in Asia-Pacific
Jeffrey Leaves Information Mosaic Industry veteran Douglas Jeffrey has left his post as president for the Americas for Information Mosaic and is working with Recondo Technology, a software as a service (Saas) provider for the healthcare industry. Jeffrey confirms that he is the New York-based vice president for strategic accounts at Recondo, which provides Web-based,… Read More >>
FinTech Products Update
The Depository Trust & Clearing Corp. (DTCC) has moved into the third phase of its corporate actions messaging overhaul with a new corporate actions pilot program intended to test ISO 20022 messages that incorporate all stages of distribution events from entitlements and payments to instructions.During the first two phases of the overhaul, DTCC officials upgraded… Read More >>
The CICI Utility Launches
As expected, the DTCC and SWIFT have launched a Web-based utility as part of their recently designated roles as interim service providers for the CFTC Interim Compliant Identifiers (CICIs) for legal entities that participate in over-the-counter (OTC) derivatives trading. The website www.ciciutility.org follows the CFTC’s plan to establish a CICI utility that issues identifiers to… Read More >>
BNY Mellon Embraces a Corporate Actions Standard
Custody bank BNY Mellon has taken a major step forward in the complex process of moving toward a new corporate actions infrastructure by going live with a standard-based messaging solution from the Depository Trust and Clearing Corp. (DTCC). BNY Mellon went live with the new standards-based offering on July 30, marking the start of… Read More >>
A Preview of the LEI Dramas to Come
The push for standardized legal entity identifiers (LEIs) is advancing as evidenced by the recent launch of a legal entity data portal (www.avoxdata.com) via Avox Ltd., a subsidiary of the DTCC. The portal is yet another milestone in the LEI drama, which has many scenes to go before LEIs become a permanent part of the… Read More >>
The CFTC’s LEI Move
The push for standardized Legal Entity Identifiers (LEIs) got a boost last week when the CFTC tapped the DTCC and SWIFT to be the providers of the CFTC Interim Compliant Identifiers (CICIs) for legal entities that participate in over-the-counter (OTC) derivatives trading. Yet many firms are only now beginning to take steps to move from… Read More >>
Some Pointers in the War on Financial Crime
Much about financial crime is troubling because it’s detected after the fact as a speaker said at FTF’s 2nd Annual Financial Crime & AML event yesterday. The speaker also said that an individual who is hell bent on committing financial crime is almost impossible to stop. Yet despite the headlines about HSBC’s failings in this… Read More >>
SWIFT, Princeton Financial, NYSE Euronext, Advent Software
SWIFT Fills Top Marketing Post Financial messaging services cooperative SWIFT has named Javier Pérez-Tasso as the replacement for its former head of marketing, Gottfried Leibbrandt, who moved up to the post of CEO earlier this month. Pérez-Tasso will take on the role of Marketing Executive and will report to Leibbrandt. Pérez-Tasso will be responsible for… Read More >>
