Tech
SROs Submit Plan for Audit Trail, Initial Costs Estimates Average $53 Million
A group of self-regulatory organizations (SROs) selected by the Securities and Exchange Commission (SEC) submitted its plan to build, implement and maintain the Consolidated Audit Trail (CAT) that will track activity in every National Market System (NMS)…
Symphony CEO David Gurle Discusses Goldman Sachs/Consortium Deal, New Platform
Yesterday it was announced that a consortium of 14 financial institutions led by Goldman Sachs had acquired Palo Alto-based software vendor Perzo for $66 million. The resulting acquisition led to the new company Symphony Communication Services, whose…
Symphony CEO David Gurle Discusses Goldman Sachs/Consortium Deal, New Platform
Yesterday it was announced that a consortium of 14 financial institutions led by Goldman Sachs had acquired Palo Alto-based software vendor Perzo for $66 million. The resulting acquisition led to the new company Symphony Communication Services, whose…
Esma Consults on NDF Clearing
The European Securities and Markets Authority (Esma) has opened a consultation on the clearing of foreign-exchange (FX) non-deliverable forwards (NDFs).
IEX Taps First Derivatives for Market Surveillance
Alternative trading system IEX has selected the Delta software platform from First Derivatives for its trade surveillance and analytics capabilities.
Abacus Adds Transparency into its Cloud
Buy-side focused Abacus Group has launched Abacus Client Portal, which is designed to give clients greater control of and transparency into their AbacusFLEX cloud services.
Stock Order Worth $617 Billion Cancelled in Japan's OTC Market
Shares in 42 companies adding up to $617 billion were canceled in Japan's over-the-counter market thanks to a trading error, according to a report from Bloomberg.
Esma Releases Final Draft Standards for IRS Clearing
The European Securities and Markets Authority (Esma) has released its final draft regulatory technical standards (RTS) for the central clearing of interest-rate swaps (IRS).
Goldman-Led Consortium Unveils Symphony Communication Services
In what's seen as an effort to compete with the likes of Bloomberg, Thomson Reuters and Markit, Goldman Sachs and 13 other industry partners have invested in a new company called Symphony Communication Services Holdings, after it acquired Perzo Inc.,…
FSB Unveils FX Benchmark Recommendations
The Financial Stability Board (FSB) has released its final report into foreign-exchange (FX) benchmarks, where it lists a number of recommendations related to the calculation of the "fix" and trading conduct.
Finra Proposes Rule to Protect Investors, Analyze Brokerages
The Financial Industry Regulatory Authority (Finra) has begun soliciting comments for a proposed rule that would require brokerages to periodically report information on their securities accounts and the securities accounts for which they clear.
Rimes to Include Thomson Reuters' Indices in Rimes BDS
Rimes will add several equity and fixed income indices from Thomson Reuters on its Rimes Benchmark Data Service (Rimes BDS) in order to expand its database and meet the growing demands from the buy side for more data.
Bent Takes Over SS&C GlobeOp's Fund Administration Operations in Asia
SS&C Technologies Holdings announced Stewart Bent will lead SS&C GlobeOp's fund administration business in Asia as its managing director in the region.
Xignite Debuts New Software Development Kits
Market data provider Xignite is rolling out new Software Development Kits (SDKs), which will debut at the FinDEVr conference in San Francisco over the next two days and be available for Java and .NET on GitHub.
DTCC and Euroclear to Create Collateral-Processing Joint Venture
The Depository Trust and Clearing Corp. (DTCC) and Euroclear have established a joint venture that will offer market participants access to the Margin Transit Utility (MTU) and Collateral Management Utility (CMU) services, in line with new collateral…
Nasdaq OMX Implements T+2 in Nordic and Baltic Markets
Nasdaq OMX is set to migrate to a shortened settlement period of T+2, where the settlement of securities transactions typically takes place two days after trades are executed, for securities traded on the Nasdaq OMX Copenhagen, Helsinki, Iceland,…
Pacific Life Insurance Taps Calypso for Collateral Optimization
Pacific Life Insurance Company, a life insurance company headquartered in Newport Beach, CA has selected Calypso Technology’s Calypso Collateral Management platform to automate and optimize its collateral allocation activities.
Colt Launches Global FX Liquidity Service
Colt, the London-based telecoms giant, has unveiled its FX Liquidity Access service, connecting market participants to the London, New York and Tokyo FX markets. The service, which includes low-latency connectivity and proximity hosting, is designed to…
Shellshock Jolts Industry, Could be Worse than Heartbleed
A newly discovered vulnerability for Linux, Mac OS X and Unix-based systems highlights the challenges firms face when defending against hackers and data loss.
Shellshock Jolts Industry, Could be Worse than Heartbleed
A newly discovered vulnerability for Linux, Mac OS X and Unix-based systems highlights the challenges firms face when defending against hackers and data loss.
Sibos 2014 Keynote: Tech, Services Merge While New Barriers and Competitors Rise
This year's Sibos event, hosted in Boston, kicked off with Chris Perretta and Peter Cowhey articulating the case for a change in mindset.
Sibos 2014 Keynote: Tech, Services Merge While New Barriers and Competitors Rise
This year's Sibos event, hosted in Boston, kicked off with Chris Perretta and Peter Cowhey articulating the case for a change in mindset.
Study Shows Asian Firms Are Not Ready for Move to T+2 For European Securities
A recent whitepaper published by Celent has revealed that 58 percent of Asian firms are not ready to comply with the shorten settlement cycle that will be implemented across Europe on 6 October.
Vista Equity Partners acquires Tibco for $24 per share
Tibco Software, an infrastructure and business intelligence software company, announced its board of directors has agreed to be acquired by Vista Equity Partners, a private equity firm, for $4.3 billion.