Back-Office Technology
This Week: Cboe-Neo, Aviva-Macrobond, Iress, BNY Mellon, Options, MT Newswires-Bloomberg, and more
A summary of some of the past week’s financial technology news.
EC ends S&P’s 53-year era as Cusip’s "cash-cow" operator
Sources ID Ice and DTCC as suitors, but new owners may not bring relief to users paying millions.
Waters Wrap: CME & Google—the first domino falls
Anthony explores some of the unanswered questions—and potential ripple effects—that come with the new partnership between CME and Google.
SGX to roll out new market data licensing, usage tool
The exchange is partnering with DataBP to offer an online portal that includes customer-facing tools and back-office automation.
Vendors push voice data across the trade lifecycle
Through partnerships and acquisitions, communications vendors are integrating voice data into different parts of the trade lifecycle to offer more sophisticated analytics and easier user interfaces.
Waters Wrap: On cloud migrations and VCRs
Financial services firms are increasingly embracing public cloud offerings, but there have been stumbles along the way, including around scalability, throttling, and a lack of true multi-cloud connectedness. These are lessons that must be learned if…
FIS modernizes through modularity
The vendor has been in the process of overhauling its entire tech estate for almost seven years, with the aim of offering modular, flexible services.
Google aims AI at corporate actions challenges
The tech giant believes its AI tools have a multitude of applications across some of the complex data challenges of financial markets, and it’s starting with the manual and complicated world of corporate actions. Some believe it will be an uphill battle.
SimCorp makes push into managed services
The Danish vendor is in the early stages of moving into accounting services. In later phases, it plans to expand services across the back and front office.
Anna Service Bureau upgrade aims to evolve with emerging data landscape
Modernization will help numbering agency data hub adapt to new technologies and improve data quality post-Isin review.
BofA and HSBC: at the intersection of cybersecurity and neurodiversity
Closing the growing gap between adequate enterprise cybersecurity protection and available resources is fraught with obstacles, so Bank of America and HSBC are pursuing an unconventional approach: seeking out neurodiverse talent with a knack for pattern…
SFDR pushes fund administrators to rethink ESG offerings
Some fund admins prefer to build ESG products in-house, while others, notably Northern Trust, consider it ‘inefficient’ from a cost and time perspective.
Waters Wrap: Will privacy-enhancing tech for the back office fall flat?
Anthony says that banks should be more concerned with cleaning up the technical debt accumulated in the back office, rather than dumping money into bleeding-edge technologies.
SS&C initiates buy-side migration to front-to-back Aloha platform
Migrations will vary based on the size of the firm, with smaller ones likely to take a 'big bang' approach while larger firms will opt for a gradual transition.
Phase five margin queues spur calls for custody revamp
Custodians are being urged to update “antiquated technology” ahead of a three-fold jump in phase six initial margin onboarding.
Waters Wrap: The expanding battle over reference data identifiers
Bloomberg, Broadridge, and Finra have all recently made news in the world of standards and identifiers. Anthony looks at some of the questions the reporters at WatersTechnology will be asking going forward.
Bank-backed futures utility criticized as too ambitious
Osttra’s Joanna Davies is urging industry leaders to look for “quick wins”.
Broadridge data ontology aims to simplify multi-asset trade data
The tech provider is using the ontology internally to integrate multiple systems and sees prospects for wider industry adoption.
Companies race to tackle widening cybersecurity talent gap
More realistic job requirements and in-house training programs could boost recruitment in face of increased cyber threats
Bank consortium led by SocGen seeks to cure post-trade data ills
Project led by Societe Generale that uses privacy-enhancing technologies to solve data management issues hopes to sign up five banks and launch as a legal entity.
This Week: Macrobond/FactSet, Tradweb, Bloomberg, DTCC, and more
A summary of some of the past week’s financial technology news.
After lengthy fight, Bloomberg’s Figi recognized as official US data standard
The Figi is free to use, and becomes the second reference data standard alongside Cusip, authorized for financial instrument identification by the American National Standards Institute.
Waters Wrap: A whole new way of looking at data spend (And CME-Cboe thoughts)
As brokers start to explore various forms of self-service models, Anthony wonders if this could lead to a complete rethink of how commercial terms and contracts are structured for adding on new datasets.
Investment bank wraps up major tech overhaul after Covid-19 setback
Stifel Europe weathered 2020 volatility and switched vendors in looking to simplify its middle- and back-office functions and increase tech investment.