News of the successful launch of pan-European settlement platform Target2 Securities might be barely cold, but Euroclear, owner of the world’s largest international securities depository and several European depositories, is already taking as stab at creating new revenue streams. Based on technology developed in conjunction with London’s Merit Software, Euroclear has just launched a central matching […]
AML Compliance: Big Job Market, Big Hurdles
For those attracted to a career of hunting down criminals, law enforcement isn’t the only choice. Finance has always been both a juicy target and a obvious tool for white-collar criminals so Wall Street’s focus on anti-money laundering compliance has been years in the making, but it wasn’t until after the 2008 to 2009 financial crisis that regulators intensified […]
When Buying Cybersecurity Insurance: Caveat Emptor
The theft of personal details of millions of individuals in a U.S. government database might sound shocking, but it really isn’t given the latest stream of well-publicized hacking events in the retail, financial and insurance industries. Neiman Marcus, eBay, Home Depot, JP Morgan Chase, Sony and Anthem are among the high-profile casualties. Given that a cyber […]
New Mutual Fund Reporting Rules: New Operational Angst
If US mutual funds and other registered investment funds feel relief they have been spared from the cumbersome rules for systemically important financial institutions, they may not for much longer. Hefty new disclosure requirements are on the horizon, if the US Securities and Exchange Commission has its way. Although the SEC is seeking industry input before […]
Outsourced Collateral Management: A Calculated Choice
When it comes to collateral management for fund managers, why not let someone else do the work? Considering the cost and administrative burden of this complex processing function, outsourcing sounds like a great idea. There are certainly some mega custodians and other managed service experts only too willing to help out. However, in this apparent […]
Europe’s Target2Securities: On Target or Not?
Will T2S launch as scheduled? Nine years after the European Central Bank proposed the initially controversial idea of launching a single centralized settlement platform for domestic and cross-border European securities transactions, the plans to launch might have hit a snag. It wouldn’t be the first time, but this time it would be at the 11th […]
DTCC Embraces ISO 20022 for Corporate Action Elections
Depository Trust & Clearing Corporation’s corporate actions transformation project could well become a gamechanger for the US market by including the use of ISO 20022-compliant messages for elections, as well as notifications on corporate events. Beyond the obvious reduction of operational risk in the stickiest aspect of corporate actions processing, the expanded use of ISO […]
Unbundling Commissions from Research: Big Pain, but Any Gain?
Customers are supposed to understand and agree on exactly what they are paying for. Right. It sounds like a truism, but it isn’t always true. Deals may contain perks or incentives that are never explicitly detailed in the agreement. If they suddenly have to be spelled out and agreed upon, item by item with the […]
News to Use: New AML Technology and Bitcoins
AML Tech Upgrade: To avoid doing business with the wrong customers and counterparties, financial firms can now rely on a new generation of software applications that go beyond traditional rules-based screening to far more sophisticated data analysis, says a new research report from Celent. The costs of not complying with anti-money laundering rules can be […]
US T+2: Getting Rid of Paper Stock Certificates
Will the US finally go paperless? When it comes to issuing certificates that evidence share ownership, that is. This is the hope of Depository Trust & Clearing Corp. (DTCC), transfer agents and other industry participants, now that a two-day settlement cycle could be just around the corner for the US. For more than a year they […]