As the SEC very publicly takes on major matters such as its climate disclosure requirements — the fate of which is playing out in court and in Congress — the regulator has quietly moved ahead with an increase in the rate that securities exchanges and broker-dealers pay to be regulated by the commission. “Starting on… Read More >>
CLS Will Not Adjust FX Settlement for T+1
Players in the foreign exchange (FX) industry are being forced back to the drawing board when it comes to settling currency transactions on a T+1 basis after CLS Group, a key player in FX settlement, announced last week that it will refrain from making operational modifications to its CLSSettlement multi-currency settlement system. Back in February,… Read More >>
EquiLend’s Securities Lending Data Available via Bloomberg Portal
EquiLend, a data and analytics provider for the securities finance industry, has launched a securities lending data service, dubbed Orbisa, and it has been made available via the Bloomberg App Portal, officials says. Operated by EquiLend, Orbisa “has a dataset comprising $32 trillion of global lendable equity and fixed income securities. Bloomberg Terminal users can… Read More >>
SEC’s Recordkeeping Crackdown Is Just the Start
(Editor’s note: As many firms have found out, the Securities and Exchange Commission (SEC) was serious when it announced a crackdown on the recordkeeping culture of the U.S. securities industry. Nearly 30 of the industry’s top financial services firms have been accused of violating recordkeeping rules. In fact, during the SEC’s 2023 fiscal year, 25… Read More >>
iCapital Buys Mirador to Better Serve Alts Space
iCapital, a platform provider for alternative investment markets, is hoping to expand its data management and reporting capabilities for the wealth management, family office, endowment, and foundation segment markets via its recently announced acquisition of Mirador, officials say. Mirador offers investment data aggregation, financial reporting services, middle office support, and IT solutions and products to… Read More >>
U.K. Taskforce Urges ‘Pragmatic,’ Two-Phase T+1 Transition
The Accelerated Settlement Taskforce, initiated by the U.K. government to explore expediting the settlement of financial trades in the U.K., has released its latest report, advocating for the transition to T+1 by December 31, 2027. Speaking to FTF News, Charlie Geffen, chair of the task force, says a very clear theme has emerged: the U.K…. Read More >>
FTF Unveils the 2024 FTF Awards Nominees!
Financial Technologies Forum (FTF) has unveiled the nominations for the 2024 FTF News Technology Innovation Awards competition, and the list of nominees reflects the dynamics of an industry facing digital transitions, a major effort to shorten settlement, and a final push to eliminate manual processes. The winners of the FTF Awards competition are chosen by… Read More >>
ESMA Survey Sheds Little Light on T+1 Impacts
The European Securities and Markets Authority (ESMA) has received inconclusive responses to key issues around costs, operational impact, and the effect on market liquidity of shortening the settlement cycle in the European Union (E.U.). The E.U.’s regulatory body overseeing financial markets deferred drawing conclusions on many aspects, opting instead to glean insights from North America’s… Read More >>
T+1 Could Spur Leaks About Sec Lending Intentions
Unease persists in the securities-lending industry as the transition to T+1 continues, driven by concerns over heightened information leakage risks and the necessity for substantial technological upgrades Earlier this month, Bloomberg Intelligence released research indicating that accelerating settlement cycles and the subsequent squeeze of securities borrow/lend processes could leave asset owners footing an eye-watering $24… Read More >>
Corporate Actions Pilot Takes Aim at Manual Processes
(Editor’s Note: In early March, DTCC officials conducted a two-phased pilot program to bring more automation to corporate actions (CA) processing. The effort addresses decades-long asset services challenges around the sourcing of corporate actions announcements via streamlining interactions across the agent and issuer community through standards and automation. The ultimate goal is to eliminate manual… Read More >>
