Financial cloud solutions provider Beeks Financial Cloud Group is partnering with trading and clearing provider Securities & Trading Technology (STT) to offer a managed service that incorporates clearing, settlement, trade execution, risk management, and surveillance, officials say. The timing was the driving factor for the collaboration between STT and Berks Group as they want to… Read More >>
Helios Debuts Trade Execution Services
Helios, a quantitative asset management firm providing an outsourced chief investment officer service, is launching trade execution services that are intended to improve the client support that financial advisors can offer, officials say. The solution is “open to all registered investment advisors (RIAs) and advisors with GeoWealth access via their broker-dealer,” according to Helios. … Read More >>
Time to Buy Not Build an OMS?
(Global banks and other sell-side firms face “a technological fork in the road” when it comes to order management systems (OMSes), according to a recent report, “The Future State of Global OMS,” from market research firm Datos Insights. “Sell-side firms … will need to reevaluate the value proposition of their existing OMS architecture and determine… Read More >>
FINRA Named as the New CAT Operator
The backers of the big data consolidated audit trail (CAT) have selected the Financial Industry Regulatory Authority (FINRA), the self-regulatory organization (SRO), to be the next plan processor for the CAT system, replacing Thesys Technologies, which was acting as Thesys CAT. Late last month, news broke that Thesys CAT was being phased out of the plan… Read More >>
‘Fidelity Digital Assets’ Launches to Service Crypto-Assets
Asset management giant Fidelity Investment is jumping into the crypto-asset fray with the launch of Fidelity Digital Asset Services, which will offer custody and trade execution services for crypto-currency-based instruments managed by institutional investors such as hedge funds, family offices and market intermediaries. “Fidelity believes that distributed ledger technologies [DLTs] can enable entirely new business… Read More >>
ITG Launches Tool to Review Post-Trade, Fill-Level Data
ITG Launches Execution Analysis Tool ITG, an independent broker and financial technology vendor, reports that it has launched ITG Execution Analysis, a web-based analytics tool for clients seeking additional insights into their fill-level data and broker-neutral algorithm usage. “Through the use of FIX-based, fill-level data, ITG Execution Analysis focuses on algorithm usage, spread capture, venue… Read More >>
SEC Closes Loophole for Security-Based Swaps
The SEC is moving to close a loophole in cross-border, security-based swaps trading that allows firms to sidestep U.S. regulation and facilitates regulatory arbitrage between markets in the U.S and the European Union. In a vote last week, the SEC adopted rules that “require a non-U.S. company that uses personnel located in a U.S. branch… Read More >>
ITG to Aide Buy-Side to Buy-Side Trades via Bondcube
Bondcube, a fixed income trading platform, has appointed execution broker ITG as a U.S. trading intermediary for Bondcube’s buy-side to buy-side trades, officials say. For the new role, ITG will facilitate the settlement of trades between buy-side participants. In addition, the partnership will increase the probability of a match for clients of ITG and Bondcube… Read More >>
Allegro Taps Misys for New CEO
Allegro Development Corp., a Dallas, Texas-headquartered provider of commodity risk management software for power and gas utilities, refiners, producers, traders and commodity consumers, reports that Frank Brienzi has been named CEO. Brienzi joins from London-based Misys, Allegro says, where the former Misys president and chief sales officer “led a two year global transformation of sales,… Read More >>
Neonet Offers Access to Oslo Børs’ Dark Pool
Independent broker and execution specialist Neonet has announced that it will be among the first brokers to provide its clients with access to North Sea, the re-launched dark pool functionality from Oslo Børs, Norway’s stock exchange, officials say. The service will include fully integrated direct market access (DMA), smart order routing, and algorithm support. North… Read More >>
