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Race to the Patent Office for Syndicated Loan Blockchain

August 29, 2020 By Chris Kentouris Leave a Comment

The results of a behind the scenes battle brewing between blockchain technology startup Hashlynx and mega-bank Bank of America to win a patent for a distributed ledger-based technology platform could end up determining how the operational difficulties inherent in the US$2 trillion paper-intensive syndicated loans market are eliminated and by whom. Whoever is awarded a […]

Filed Under: Compliance, Data, Investments, Investors, Sec Lending, Settlement Tagged With: Blockchain, Crypto, Data, Fund Ops, Investors, Sec Lending, Settlement

CSDR: Using Predictive Analytics to Prevent Fails

July 14, 2020 By Chris Kentouris Leave a Comment

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) settlement discipline regime 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 […]

Filed Under: Compliance, Data, ESMA, Regulators, Risk, Rules, Rules, Settlement, Standards Tagged With: Compliance, Data, ESMA, Regulators, Risk, Settlement, Standards

COVID 19: Custody Network Management Revisited

June 27, 2020 By Chris Kentouris Leave a Comment

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 […]

Filed Under: Compliance, Custody, Data, Investors, Post-Trade, Risk, Rules, Rules, Settlement Tagged With: Compliance, Custodians, Depositories, Fund Ops, Funds, Investors, Regulators

CSDR: Partial Settlement Means a Full Ops Headache

April 27, 2020 By Chris Kentouris Leave a Comment

In permitting partial settlement of securiies transactions to relieve financial penalties, the new European Central Securities Depository Regulation (CSDR) will unintentionally cause fund managers, broker-dealers and others more operational grief. The CSDR is designed to harmonize the operating rules for all national European securities depositories, including using the same methodology to calculate fines when trades […]

Filed Under: Compliance, Operations, Post-Trade, Regulations, Settlement Tagged With: Compliance, Depositories, ESMA, Regulators, Settlement, Standards

IHS Markit: Taking the Distress Out of Distressed Loan Settlement

July 22, 2019 By Chris Kentouris Leave a Comment

T+66. That’s on average how long it takes to settle a trade in a distressed loan. Now technology and data giant IHS Markit is hoping to reduce the timeframe by leveraging its existing platform for par loans. The settlement cycle for distressed loans is even longer than what it takes a package to travel to […]

Filed Under: Brokers, Compliance, Funds, Settlement Tagged With: Brokerage Ops, Fund Ops, Ops Risk, Settlement

US T+1 Settlement: Not So Fast (Updated)

February 7, 2018 By Chris Kentouris Leave a Comment

Update (May 13, 2018): Come late 2019, bank and broker-dealer members of the US Depository Trust & Clearing Corp. could look forward to reducing their settlement exposures by one day while retaining the current two-day settlement cycle. DTCC now says that US trades could be settled before the market opens on T+2 instead of the […]

Filed Under: Infastructure, Post-Trade, Sec Lending, Settlement, Slider, Trading Tagged With: Custodians, DTCC, Investment Ops, Matching, Post Trade, SEC, Settlement, Standards, T+2

Seeking Depository: Call Ireland’s Central Bank (Updated)

August 18, 2017 By Chris Kentouris Leave a Comment

Update (May 3, 2018) Bank and broker-dealer members of Euroclear UK & Ireland now have to worry about where they will settle trades in Irish equities post-Brexit. They will no longer be able to do so through the shared UK and  Irish depository and parent Euroclear recently announced that it has abandoned plans to set […]

Filed Under: Clearing, Compliance, Infastructure, Margining, Rules, Settlement, Slider Tagged With: Compliance, Custodians, Depositories, ESMA, Investment Ops, Post Trade, Regulators, Settlement

SEC’s Liquidity Rule: How to Bucket Your Assets

August 16, 2017 By Chris Kentouris Leave a Comment

Highly liquid, moderately liquid, less liquid, and illiquid. Classifying securities in one of those four buckets for the first time under the US Securities and Exchange Commission’s new liquidity rule will force compliance and risk managers at US mutual funds and exchange-traded funds to implement new operational procedures by next year. “Fund managers will have […]

Filed Under: Analytics, Compliance, Data, Derivatives, Investments, Reporting, Risk, Settlement, Slider, Trading Tagged With: Compliance, Data, Derivatives, Fund Ops, Reporting, SEC, Valuation

T+2: Exchanges Ex September 5 for Corporate Actions

June 23, 2017 By Chris Kentouris Leave a Comment

With the two-day settlement cycle on the horizon in the US, market players have their hands full, ensuring they have adapted their front, middle and back-office operations correctly before September 5. However, one major concern about the changeover has just been relieved. The New York Stock Exchange and Nasdaq have eliminated September 5 as an […]

Filed Under: Corporate Actions, Rules, Settlement, Slider, Trading Tagged With: Corporate Actions, Ops Risk, Settlement, Standards, T+2

Blockchain 2017: Regulatory Reality from FINRA

February 2, 2017 By Chris Kentouris Leave a Comment

Straight from the horse’s mouth, US broker-dealers have just been advised about the many ways their use of blockchain could impact their compliance with rules imposed by the Financial Industry Regulatory Authority (FINRA) — including recordkeeping, clearance and settlement, anti-money laundering, trade reporting and customer statements. FINRA , the US self-regulatory agency for broker-dealers, has issued a […]

Filed Under: Clearing, Compliance, Innovation, Outsourcing, Risk, Rules, Settlement, Slider Tagged With: AML, Brokerage Ops, Compliance, Data, FINRA, KYC, Ops Risk, Regulators, Reporting, SEC, Settlement

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