SEC: Current NMS Has Too Many Conflicts of Interest Citing conflicts of interest in the current national market system (NMS), the SEC is ordering equity exchanges such as the Nasdaq Stock Market and New York Stock Exchange, and FINRA, the self-regulatory organization (SRO) for U.S. broker-dealers, to revamp and improve the governance of market data… Read More >>
ESG Data Will Be Normalized for Investing: Q&A
(Paul Fahey, head of investment data science, asset servicing, Americas, Northern Trust, took questions from FTF News about the concerns that operations staff have about the environmental, social, and governance [ESG] data and factors that they are likely to encounter as part of their support for the investment process. In his post at Northern Trust,… Read More >>
SS&C Buys MFA Business from Iress & Other News
Acquisition to Help SS&C’s Transfer Agent Business Iress, a trading software and services provider, is selling its managed funds administration (MFA) business to SS&C Technologies, which will use the acquisition to strengthen its position as a transfer agent in Australia, officials say. Iress is based in Melbourne, Australia. “The MFA business [from Iress] is… Read More >>
Firms Want More ESG Data: Report
“More than nine in 10 executives plan to increase ESG data spend, but data linkage and managing multiple vendor feeds dilute value,” according to a recent survey by market data and news giant Bloomberg and market research firm Adox Research. Adox provides “advice and marketing for banks, asset managers, custodians, and tech providers.” “ESG,” as… Read More >>
ISDA Docs Expert Launches Online Course & Other News
Course Targets Firms that Use ISDA Master Agreements Edyta Knizewska, a derivatives documentation expert, reports that she is offering an online course about “understanding and negotiating ISDA Master Agreements.” The master agreements “govern over-the-counter derivatives transactions,” and Knizewska, a legal consultant, negotiator and derivatives lawyer wants to offer her experience through her ISDA Lab course…. Read More >>
T+1 Will Overhaul Securities Lending: Report
A new report from Citi — “Securities Services Evolution 2023” — argues that the move to shorter, T+1 settlement will leave no one in securities operations untouched. However, the report strongly argues that securities lending is in for a rollercoaster ride as securities firms move to T+1. Firms and other market participants will need to… Read More >>
SimCorp & EDI Team Up on Corporate Actions & Other News
Duo to offer ISO 15022 Corporate Actions Data Exchange Data International (EDI), a financial and economic data provider, and SimCorp, an investment management solutions provider, have agreed to combine efforts to offer corporate actions data to their clients, officials say. “The integration of EDI’s Worldwide Corporate Actions Service within SimCorp’s integrated front-to-back investment management platform… Read More >>
The Fed Will Supervise Crypto Assets & More
In early August, the Federal Reserve Board let the banks know that it is keeping an eye on their “novel activities” such as those involving crypto-assets and distributed ledger technology (DLT) otherwise known as blockchain systems. “The Federal Reserve Board on Tuesday [Aug. 8] provided additional information on its program to supervise novel activities in… Read More >>
Watson Wheatley to Use Daymi’s APIs & Other News
New Links Will Help Users Manage iRecs Projects Watson Wheatley, a London-based provider of securities reconciliation, and Daymi, an interactive operations playbook provider based in Stockholm, have launched a connectivity partnership that will enable operations teams to better manage recurring projects, routines and tasks, officials say. “Using the API [application programming interface] connection that… Read More >>
Wedbush Pays $16M to Resolve Recordkeeping Problems
Accusations don’t equal proof of guilt. Lawyers for a certain much-indicted ex-president will tell you that. However, multiple accusations by credible accusers aren’t a particularly good look, whether for a politician or a registered futures commission merchant. Which brings us to Wedbush Securities. The Commodity Futures Trading Commission (CFTC) recently ordered Los Angeles-based Wedbush Securities… Read More >>
