Jess Chris Mrs. Midwest Jess porn camilla araujo Regulatory fines aren’t the only thing asset managers need to worry about when it comes to ensuring they have a strong cybersecurity program in place. A new study just released by Moody’s Investors Services about the cybersecurity preparedness of US fund management firms suggests that asset managers could face a credit ratings downgrade if they can’t […]
US T+2: SEC Joins the Bandwagon
The Securities and Exchange Commission may have just given its official blessing to a shortened trade settlement cycle in the US come September 5, but the Depository Trust & Clearing Corp. (DTCC), its member firms and service providers have already been working long and hard on operational adjustments and industry-wide testing. All this effort will hopefully […]
Euroclear Bank Taskizes Failed Settlements
Banks and broker-dealer members of international securities depository Euroclear Bank in Brussels will now find it a lot easier to clean up trades which failed to settle on time. Euroclear, which specializes in settling Eurobonds and cross-border transactions of domestic equities and fixed-income instruments, is offering its participants a free cloud-based platform to communicate information […]
Accenture, Broadridge, Synechron on Blockchain
The financial world is spending countless hours — and millions of dollars — hypothesizing how blockchain — the new distributed way of storing information — could eliminate huge operational costs. Banks, broker-dealers, exchanges, and securities depositories have started exploring its potential vast use with the help of technology providers. Blockchain could theoretically be applied to […]
Fund Managers Outsource More Mid-Office Ops
Gone are the days when the middle office is maligned as being strictly a cost-center dragging down investment performance. Today more fund managers are concluding that more effective management of their middle office can not only reduce operating expenses, but also give them a competitive edge with investors and keep regulators at bay. Fund management […]
Blockchain for US Settlement: Three, Two, One, Takeoff? (Update)
(Editor’s Note: On Sept 14 itBit announced that its flagship Bankchain and other post-trade projects would be run out of a new firm Paxos with the same management. The former itBit, would be a division of Paxos, and continue to operate its crypto-currency trading platform). If US blockchain afficionados have their way, the technology […]
Fund Managers to SEC: Change DTCC, ICE Swaps Rules
Fund managers are asking the Securities and Exchange Commission to force Depository Trust & Clearing Corp. and ICE to adapt their rulebooks to match their limited reporting responsibilities for security-based swap transactions. The Asset Management Group (AMG) and Investment Company Institute (ICI) say that the DTCC’s Trade Repository and the ICE Trade Vault have overstepped the […]
Asset Owners Put Managers on the Operational Hotseat
How do you run your business? If it sounds like an open-ended question for pension plans, endowments and other institutional investors to ask fund managers, it is intended to be. Institutional asset owners hope it will elicit a lengthy discussion over the policies, procedures and technology the fund manager uses to make money before they […]
Fund Operations Managers Weather UK’s Brexit Storm
While the UK and European Union leaders will have two years to come up with a gameplan for how the UK will separate from the European Union, middle and back-office operations professionals at fund management shops are taking it one day at a time during extreme market volatility. The UK’s legal limbo has caused higher trading […]
SEC to Fund Administrators: You Are Liable for Client Fraud (Updated)
(Editor’s Note: On July 25, 2016 Apex Fund Services announced two hires for compliance. It appointed Nitin Khanapurkar as global head of risk and compliance oversight. Apex’s Luxembourg unit tapped Sonja-Maria Hilkhuijsen as head of European compliance and data protection. Khanapurkar was previously senior partner at KPMG while Hilkhuijsen was chief compliance and data protection […]