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Europe’s CSDR: Fund Managers Monitor Settlement Fails

March 8, 2022 By Chris Kentouris Leave a Comment

Operations managers at fund management firms are scrambling to improve how they monitor settlement fails and prevent penalties imposed by their custodian banks just around the corner as mandated under Europe’s Central Securities Depository Regulation (CSDR). A dozen European fund management firms,who spoke with FinOps Report on condition of anonymity, say they are spending more […]

Filed Under: Compliance, Data, Post-Trade, Settlement Tagged With: Compliance, Data, Regulations, Standards

Preventing Pesky US Treasury Settlement Fails

March 15, 2021 By Chris Kentouris Leave a Comment

For US broker-dealer operations managers failing to settle a transaction in US Treasury securities might never have been all that problematic, but with the number of fails rising dramatically during the peak of the COVID-19 pandemic one megabank–BNY Mellon– has decided to offer a preventative service in a technology partnership with Google Cloud. As the […]

Filed Under: Compliance, Post-Trade, Regulators, Risk, Rules, Settlement Tagged With: Compliance, Data, Regulators, Rules, 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

Goodbye NSCC: Hello Paxos for Clearing US Equities?

November 27, 2019 By Chris Kentouris Leave a Comment

US clearinghouses, such as the National Securities Clearing Corp. (NSCC), could become either a thing of the past or take a backseat, if custodian Paxos has its way in clearing and settling US securities. The US Securities and Exchange Commission’s recent no-action letter to Paxos allows the firm to serve as a clearinghouse for a […]

Filed Under: Clearing, Innovation, Post-Trade, Risk, Settlement Tagged With: Blockchain, Brokerage Ops, Clearinghouses, DTCC, Innovation, NSCC

Unique Product IDs: Next Challenge for Swaps Reporting

May 28, 2019 By Chris Kentouris Leave a Comment

Data operations, trade desk and regulatory reporting managers may soon have gear up for new administrative tasks — and potentially extra fees– when reporting their over-the-counter derivatives transactions to trade repositories using unique product identifiers. The UPIs mark the latest in an array of codes financial firms and trading platforms must use to describe the […]

Filed Under: Compliance, Data, Derivatives, Post-Trade, Reporting, Trading Tagged With: Data, Derivatives, MiFID, Regulators, Swaps

Treasury Operations: From Basics to Optimal

December 14, 2018 By Chris Kentouris Leave a Comment

Where are my cash and securities and am I achieving the best bang for the buck? Treasury management staffers at hedge fund management shops are belatedly realizing that the difference between either knowing or not knowing the answer to the interrelated questions could translate into the difference between average and higher investment performance. The savviest […]

Filed Under: Financing, Outsourcing, Post-Trade Tagged With: Brokerage Ops, Fund Ops, Hedge Funds, Investment Ops, Outsourcing, Post Trade

Europe’s CSDR: New Settlement Fines, New Ops Strains

November 23, 2018 By Chris Kentouris Leave a Comment

Operations, technology, legal and network managers at custodian banks and broker-dealers are starting to feel penalized when it comes to all the data collection, reconciliation and numbers crunching work they must do to pass along to their clients the new fines for settlement fails required by Europe’s Central Securities Depository Regulation (CSDR). One of the […]

Filed Under: Compliance, Data, Post-Trade, Settlement Tagged With: Compliance, Data, Regulators, Standards

BofAML’s Fake Trade Reports: Governance Breakdown?

July 11, 2018 By Chris Kentouris Leave a Comment

How could Bank of America Merrill Lynch get away with giving institutional customers phony trade execution, transaction cost analysis and expense reports for five years? Ten brokerage operations and IT managers contacted by FinOps Report can only speculate after reading the scant details in separate settlement reports issued by the Office of the Attorney General […]

Filed Under: Compliance, Data, Post-Trade, Reporting, Slider, Standards Tagged With: Brokerage Ops, Compliance, Data, Post Trade, Reconciliation, Regulators, Reporting, SEC, Standards

SEC 12b-1 Fee Amnesty: Costly Ops Work

April 6, 2018 By Chris Kentouris Leave a Comment

A, B, C. Those three simple letters of the English alphabet could cause plenty of administrative grief for compliance and middle office operations managers at US mutual fund management firms over the next few months. That is, if they hope to take advantage of the Securities and Exchange Commission’s leniency program on overcharges to investors in […]

Filed Under: Analytics, Compliance, Funds, Investments, Investors, Post-Trade, Reporting, Rules, Slider Tagged With: Compliance, Fund Ops, Investment Ops, Middle Office Ops, Reporting, SEC

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