Do you work for a fund manager, bank, broker dealer or altenative trading platform and have extensive product knowledge of interest rate, foreign exchange, credit and commodity derivatives, understand reference data, data management, architecture and implementation of data standards? If the answer is yes to all or most of the criteria, you could end up […]
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 […]
Artificial Intelligence: The Next Frontier in AML Compliance
Concerned about potential regulatory fines and skyrocketing costs, the world’s largest banks are turning to artificial intelligence to improve their compliance with know-your-customer and anti-money laundering regulations. “The value proposition for AI solutions is highest for large banks with significant volumes, complexity, multiple lines of business and geographical reach as these banks are affected most […]
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 […]
Northern Trust Minds the Corporate Actions Gap
A successful investment strategy is about more than just buying and selling the right stocks at the right price at the right time. It also depends on picking the best option when it comes to voluntary corporate actions or being able to recognize a bad decision after the fact. Northern Trust is helping its asset […]
Bloomberg Takes on KYC Onboarding for Hedge Funds
With its new offering called Entity Exchange, Bloomberg is trying to take a bite out the market share — especially among hedge fund managers — of the existing utilities for automating know-your-customer requirements. Its strategy: give the buy side more control. Regulators require financial firms to know just who they are doing business with before they […]
Next Up on Blockchain: Reconciliation and Syndicated Loans
Start small, think big is what aficionados of blockchain technology see as the most effective strategy in implementing the newfangled architecture. Skipping the more complicated or broader reaching applications for the moment, blockchain appears to be gaining momentum in specialized operations serving smaller user groups . Although no one cited any live cases, representatives from FIS and Symbiont […]
Johannesburg in Final Sprint to T+3 Settlement (Updated)
(Editor’s Note: This article was updated on February 29 to reflect the JSE’s announcement on February 26 that it had selected July 11 as the go-live day for T+3.) South Africa is in the last lap of a longstanding project to shave two days off its current five day settlement cycle, even though the […]
US Post-Trade Matching: Omgeo, Bloomberg or SS&C?
The mundane world of post-trade matching just got a long-awaited shakeup. What has been a virtual monopoly in the post-trade matching market is about to become a horse race, since the US Securities and Exchange Commission has approved Bloomberg and SS&C Technologies to enter the business of post-trade matching services in competition with incumbent Omgeo. In allowing […]
New Alternative Fund Messages: Second Time the Charm?
The alternative investment funds market is undergoing an eight year itch. That long ago in 2007, a group of securities depositories, fund administrators and custodians launched a project to create ISO 20022-compliant message types for orders and redemptions of units of alternative investment funds. The level of adoption of the new messaging was disappointing, and it […]