A group of senior executives at trading software provider CQG has acquired the privately held company from owner Tim Mather, who founded the company in 1980, officials say. Mather and Ryan Moroney, the current CEO of CQG, have been “focused on a transition plan when he was ready to step away that would put the… Read More >>
Open Source Helps Wall Street Innovate Faster
(Gabriele Columbro, executive director for the Fintech Open Source Foundation (FINOS), spoke to FTF News about a variety of subjects during the Open Source in Finance Forum (OSFF) sponsored by FINOS and held in New York City last week. Columbro focused on the Common Cloud Controls (CCC) effort to formulate consistent controls for cloud computing… Read More >>
CFA & Others Collaborate to Define ESG Terms
Like other big and complex industries, the world of Wall Street has always had an inclination for acronyms, which are meant to simplify the sometimes complex terminology of “responsible investment.” In theory, one of the most recently adopted acronyms — ESG, which stands for environmental, social, and governance — should be the easiest to understand and… Read More >>
SimCorp Bolsters North American Push via Axioma Merger
A month after it was officially acquired by Deutsche Börse Group, SimCorp, an investment management platform provider, will be merged with Axioma, a maker of factor risk models, portfolio construction tools, and multi-asset class enterprise risk solutions. SimCorp and Axioma are subsidiaries of Deutsche Börse Group, which should ease the merging process. The SimCorp-Axioma integration… Read More >>
Open Source Projects Hit Their Stride on Wall Street
The open source movement for financial services firms on Wall Street and beyond is hitting its stride, says the Fintech Open Source Foundation (FINOS), which reports there is widespread adoption of open source software, standards, and best practices. And more open source projects are going into production, FINOS says. For instance, Morgan Stanley and Wellington… Read More >>
NY State Wants Firms to Report Ransomware
The state of New York has amended its “first-in-the-nation” cybersecurity regulations and will be requiring financial services firms to report ransomware amounts just as cyberattacks are increasing, according to the regulator New York State Department of Financial Services (NYS DFS) and New York Governor Kathy Hochul. In addition to the ransomware reporting, the updated regulations… Read More >>
Does FINOS Have a Cloud Blueprint for Regulators?
Should global regulators create regulations based on a relatively new set of open-source standards that provide consistent controls over cybersecurity and compliance for cloud deployments in the financial services sector? The answer is in the affirmative for a panel of industry representatives who took part in the Open Source in Finance Forum (OSFF) of the… Read More >>
FinCEN Helps Firms Red Flag Financing for Hamas
The weapons of modern war include tanks, missiles, and jet fighters launched from aircraft carriers far out at sea. Governments can draw on national treasuries to fund the monumental costs of that kind of war in the 21st Century. But where did Hamas, a terrorist organization based in an impoverished refugee camp with few financial… Read More >>
SEC Rule to Spur Sec Lending Reporting Platforms
The SEC is changing securities lending via a new rule and that will cause securities firms to develop their own reporting platform or use a third-party reporting agent, says Kevin McNulty, managing director, head of RegTech Solutions at Equilend, a securities lending platform provider. The rule requires firms to report securities lending data to a… Read More >>
Morgan Stanley White Labels BNY Platform & Other News
MSIM to White Label BNY’s LiquidityDirect Custodian BNY Mellon reports that Morgan Stanley Investment Management (MSIM) is the first white-label client of BNY’s LiquidityDirect, a liquidity management solution that combines technology, connectivity, and client service, officials say. Financial services firms can offer short-term investments by using LiquidityDirect’s technology and services “through a single sign-on for their… Read More >>
