The emergence of blockchain/distributed ledger technology (DLT) could led to “a new global clearing and settlement infrastructure” for domains that are “currently poorly served by existing infrastructure or facing poor value for money,” according to a new report from GBST, a securities transaction and fund administration software vendor. However, it’s likely to be a gradual… Read More >>
SWIFT Gets on the Blockchain Proof-of-Concept Bus
Financial messaging and services cooperative SWIFT is providing more details about its R&D efforts, including proof of concept efforts, for blockchain/distributed ledger technology (DLT) in a white paper it just completed with global consultancy Accenture The two have combined efforts for a position paper, “SWIFT on Distributed Ledger Technologies: Delivering an Industry Standard Platform through… Read More >>
CloudMargin Sharpens Collateral Optimization Capabilities
CloudMargin, a provider of web-based collateral and margin management services, reports that it has improved its collateral optimization capabilities to better serve the clearing needs of securities firms. The enhanced optimization combines CloudMargin’s capabilities to source inventory “on a client’s behalf direct from custodians via CloudMargin’s own SWIFT membership,” vendor officials say. Cloud-based collateral management… Read More >>
CloudMargin’s SWIFT Move Pushes Low-Touch Option
Cloud-based collateral management technology vendor CloudMargin reports that it is first such provider to join the SWIFT cooperative, a step that may help the company make its case to firms considering low-touch solutions to meet the non-cleared derivatives margining rules to come. By working with SWIFT, CloudMargin will adopt SWIFT connectivity and standards, says Keith… Read More >>
SWIFT to Give Back $34.5 Million in Rebates
The Brussels-based financial messaging cooperative SWIFT will be issuing a global, 10 percent rebate on the fees it charged for messaging last year, and predicts that it will be returning approximately €32 million ($34.5 million) to those organizations using its services. The rebate for 2015 represents “SWIFT’s continued commitment to the global banking community,” said… Read More >>
Unified Settlement Push in Europe Hits Speed Bumps
The European Central Bank (ECB) has rescheduled the implementation of its Target 2 Securities (T2S) program, allowing one of the largest central securities depositories (CSDs) to delay migration until September 2016. The delays, however, are not likely to derail the T2S push, launched in June 2015 to create a single European platform for securities settlement…. Read More >>
Wall Street Heavyweights Back Open Source Project for Blockchain
Blockchain technology, with distributed-ledger potential that has excited much of the financial services world, has gotten a big boost from the Linux Foundation, the San Francisco-based open source nonprofit founded in 2000, which reports the launch of a broadly based open source initiative. “The project will develop an enterprise grade, open source distributed ledger framework… Read More >>
Blockchain Startup Digital Asset Hires Conde and Church
Blockchain technology startup Digital Asset Holdings has hired industry veterans Cristóbal Conde, the former head of SunGard, and Chris Church, a North American executive for the SWIFT cooperative, underscoring the disruptive distributed ledger technology’s ability to bring together old and new school technologies and practices. The Blockchain ledger underpins the Bitcoin cryptocurrency by keeping track… Read More >>
KYC Demands Cause ‘Immense’ Data Burdens for Firms
Providers are targeting the increasingly important know your customer (KYC) space in an attempt to ease the “immense” data management burden firms are reportedly experiencing in this area of financial services compliance. Solutions designed to support data management in relation to regulatory issues such as KYC anti-money laundering controls continue to attract users looking for… Read More >>
SWIFT’s Innotribe Crowns Hyperledger
At the Sibos conference in Singapore, SWIFT’s fintech innovation division Innotribe has named newcomer Hyperledger as the winner of the 2015 Innotribe Startup Challenge, giving the vendor exposure and a $50,000 cash prize. On its website, Hyperledger says it “uses revolutionary shared, replicated ledgers technology to provide a trustful, universal record of truth not controlled… Read More >>
