Predict and prevent– that’s what back-office operations managers at buy and sell-side firms preparing for Europe’s Central Securities Depositories Regulation (CSDR) are starting to think about so they won’t have to pay hefty financial penalties or endure buy-in requirements if they fail to settle their European trades on time. Instead of bemoaning the cost of […]
COVID 19: Custody Network Management Revisited
If fund managers can outsource middle and back-office operations and even trading desks, why can’t global custodians outsource network management due diligence and monitoring? That’s the question over a dozen former global custody network managers who spoke with FinOps Report over the past month are asking as concerns mount that the COVID-19 pandemic could eventually […]
Arcesium Sues SS&C: Fund Manager Access to Geneva in Limbo?
Middle-office operations managers at alternative fund management firms accessing SS&C Technologies’ Geneva portfolio accounting system through reseller Arcesium are now caught in the crossfires of a lawsuit against SS&C Advent and its parent SS&C with their ability to use SS&C’s Geneva portfolio accounting system possibly in question. SS&C’s Geneva platform is one of the most […]
EU’s New Shareholder Rights Directive: What Standards?
With Europe’s second incarnation of the Shareholder Rights Directive (SRD II) less than four months away, the securities industry can easily rely on automated communication channels to ease the compliance burden, but depending on disparate message standards to transmit data and methodologies for calculating fees will still make the administrative work challenging. The European Commission […]
Fund Managers Find COVID-19 Makes Best Ex Best Effort
Complying with “best execution” requirements is nothing new for fund managers, but some could easily end up failing to meet their fiduciary obligations this year due to circumstances beyond their control — the unprecedented market volatility and remote working generated by the COVID-19 pandemic. About a dozen operations managers at US fund management firms who […]
Fair or Not: Fund Managers Face SEC’s New Valuation Rule
Registered investment advisers might find it operationally a lot harder and a lot more expensive to value hard-to-price assets held by mutual funds if the US Securities and Exchange Commission’s proposed modernization of fund valuation practices is adopted. Appointing a chief valuation officer could become necessary to handle the laundry list of new requirements. The […]
OCC’s DLT for Sec Finance: Broker Reconciliations Gone?
Securities finance operations managers at US broker-dealers clearing their securities loan deals through the Options Clearing Corp. (OCC) could soon reduce if not eliminate time-consuming manual reconciliation work thanks to its new distributed ledger technology-based platform. Once OCC’s new DLT-based securities finance infrastructure is up and running, its 72 broker-dealer users would have real-time access […]
Coronavirus :The Corporate Actions Side Effect
Corporate actions analysts and operations managers working remotely during the coronavirus pandemic could unintentionally end up leaving money on the table as they scramble to deal with companies either postponing some events or changing the terms of others. That’s what Jonny Ruck, chief executive officer at London- headquartered corporate actions analytics technology firm Scorpeo is […]
COVID-19: Addressing Return to Work Legal Quirks
The eventual return of Wall Street’s trading and operations executives to their physical offices as the coronavirus pandemic subsides could end up being a cause for litigation and employee angst, rather than celebration, if C-suite executives don’t carefully balance profit-making with worker safety. Knowing when employees can come back to work is the easiest part […]
SEI Sues SS&C For Threatening to Shut Advent/Moxy Access
Fund administrator SEI Global Services has sued rival SS&C Technology Holdings and subsidiary SS&C Advent for allegedly trying to put SEI out of business by cutting off its access to critical portfolio accounting technology SEI needs to service its fund manager clients. The lawsuit, filed in the US District Court in the SEI’s backyard in […]