(FTF News recently spoke with Lisa Iagatta, the ISITC chair for the past three years, as ISITC’s Virtual Fall Forum 2021, held earlier this month, was winding down. Iagatta touched on the T+1 shorter settlement cycle push, led by the DTCC, SIFMA, and the ICI, and looked back at her time at the helm, which… Read More >>
Raymond James Boosts STP by 40 Percent
Raymond James Deploys Syn-TAC Upgrade Raymond James officials report that they have renewed an existing contract for GBST’s middle-office post-trade solution, Syn~TAC, in a bid to boost the firm’s straight through processing (STP). A GBST client for more than seven years, the firm has also completed an upgrade to the latest version of Syn~TAC, officials… Read More >>
TriOptima Launches Tri-Party Links via SWIFT
Four Tri-Party Agents Endorse New Connection TriOptima reports that its triResolve Margin offering now provides integration via the SWIFT financial services messaging and systems cooperative to four tri-party agents: BNY Mellon, Clearstream, Euroclear, and JPMorgan. “TriOptima’s clients will have direct connectivity to tri-parties via SWIFT for sending instructions as well as receiving status messages and… Read More >>
NYFIX to Expand Post-Trade Services via Acquisition
Broadridge Buys Itiviti Partner Alpha Omega Broadridge Financial Solutions has acquired Alpha Omega, a post-trade solutions provider that uses the FIX electronic trading protocol, a move that will expand NYFIX’s post-trade services, officials say. Alpha Omega is a longtime partner of Itiviti, which itself is the result of the 2016 combination of NYFIX and Ullink. Broadridge… Read More >>
State Street Fraud Case Resolved via Fine & DPA
State Street will be paying a criminal penalty of $115 million and entering into a deferred prosecution agreement (DPA) in a resolution of a federal case involving charges of fraud against custody customers, according to the U.S. Justice Department and the firm. The settlement with the Justice Department is an acknowledgment from State Street that… Read More >>
SWIFT Makes Sibos Virtual for 2021
Sibos to Be In-Person for 2022 The international financial services operations conference known as Sibos, produced by the SWIFT consortium, and slated for October of this year will be a virtual event, officials have confirmed. The conference in 2022 has been slated to be an in-person event. “The Covid-19 pandemic continues to impact the way… Read More >>
Global Cyber-Crime Needs a Global Response: IMF
A recent white paper from the Carnegie Endowment for International Peace and the International Monetary Fund (IMF) endorses a global response to ongoing and worsening cyber-attacks upon financial services firms while laying out the specifics of the current worldwide situation. Spoiler alert: The current global situation is not good. To address the expected rough times… Read More >>
State Street to Service T. Rowe Price’s Active ETFs
State Street to Provide a Range of Services Rowe Price has appointed State Street as the service provider for four, newly launched active exchange-traded funds (ETFs) that are listed on NYSE Arca, Inc. “As part of the agreement, State Street will provide services including basket creation, dissemination, settlement, custody, fund accounting, order-taking, financial reporting, performance… Read More >>
ISITC’s Workaround for SWIFT & Negative Trading Prices
The Derivatives Working Group of ISITC, a securities industry standards group, is helping to spotlight a problem that has gotten lost in the shuffle of a pandemic and sudden recession. Essentially, how do users of the SWIFT financial messaging network process negative trading prices on commodity futures? “The effort was spurred by recent market event… Read More >>
Commcise Launches Commission Management Service
‘Commission-Management-As-A-Service’ Debuts Commcise, a provider of integrated commission management, research evaluation, consumption tracking and reporting solutions for investment management and brokerage firms, reports the launch of CommciseCM, a stand-alone, cloud-based commission management platform designed to help U.S. asset managers and hedge funds obtain a “full commission wallet view of their entire trading activity.” CommciseCM, majority-owned… Read More >>
