Operations

OTC Derivatives Clearing Debate Continues

NEW YORK-The Over-the-Counter Derivatives Act of 2009 approved by the U.S. House Financial Services Committee on Oct. 15, if signed into law, would shift the responsibility for regulating and ensuring central clearing of over-the-counter (OTC)…

Oslo Børs Diversifies Clearing Offering

OSLO-Norwegian exchange operator Oslo Børs has recently signed a memorandum of understanding (MoU) with Oslo Clearing, its existing clearing partner, and LCH.Clearnet to offer exchange members a choice of central counterparty (CCP) clearinghouses.

Brokers Seek Clearing Transparency

LONDON-Price transparency isn't just a front-office concern for brokers as many are seeking better transparency from European exchanges about clearing and settlement tariffs so that firms can calculate fees as a proportion of value traded.

Nasdaq OMX Launches Nordic CCP

STOCKHOLM-Global ex-­change oper­ator Nasdaq OMX launched its central counterparty (CCP) clearing services as DWT went to press on Oct. 9.

LCH.Clearnet, EMCF Set for November Link

LONDON-European clearinghouses LCH.Clearnet Group and the European Multilateral Clearing Facility (EMCF) have inked a bilateral agreement to achieve interoperability by November of this year, according to officials.

Bank of East Asia Signs Up FinIQ

HONG KONG-Bank of East Asia plans to go live with the FinIQ Structured Products System to augment its treasury business in Hong Kong by the end of the year, say vendor officials.

Bank Leumi Takes WSS FX Options Module Live

TEL AVIV-Bank Leumi went into production with Wall Street Systems' (WSS's) foreign exchange (FX) options module for the middle- and back-office processing of vanilla, exotic and non-deliverable options at the end of August, DWT has learned.

Elysium Targets Mini-Primes with Post-Trade FX Offering

STAMFORD, CONN.-Catering to the Tier 3 banks moving into the prime brokerage space, Elysium Technology plans an October launch for three post-trade modules for its multi-asset white-label front-to-back-office reporting and reconciliation platform,…

Knight Grows Disaster Recovery Facility

JERSEY CITY, N.J.-Officials at Knight Capital Group are in the process of evaluating their options for server and space configuration in the broker-dealer's newly expanded disaster recovery datacenter, officials tell DWT .

Tradeware Streamlines Reporting

NEW YORK-Electronic global equity market access provider Tradeware Global plans to provide its clients standard end-of-day reports before the end of the year.

Perfect Partners

The hosted services model is not a new phenomenon to the financial services industry. But during these testing times it has become more relevant to buy side firms offering managers the benefits of fixed IT costs, reduced time to market for new…

EuroCCP Targets Clearinghouse Interoperability by '10

LONDON-Officials at the European Central Counterparty (EuroCCP)-the European subsidiary of the U.S. Depository Trust and Clearing Corp. (DTCC)-expect that by the first quarter of next year European central counterparties (CCPs) should be connected to…

Ballista Preps for Infrastructure Refresh

NEW YORK-Flush with a recently reported $15 million injection of working capital from a new consortium consisting of the International Secur­ities Exchange (ISE), Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity, options broker Ballista…

Global Equities Brings Human Dimension to BCP

PARIS-Going beyond what is required by French regulator Autorité des marchés financiers (AMF), French brokerage Global Equities is in the midst of deploying a new business continuity protocol to address the needs of its employees in case of an emergency.

LCH.Clearnet Still in Play

LONDON-LCH.Clearnet's proposed merger with the Depository Trust & Clearing Corp. (DTCC) failed because the London-based clearinghouse did not agree on "a basis for consummating the proposed merger."

Broadridge Automates Account Transfers

NEW YORK-In order to provide more streamlining capabilities to its Ascendis suite of business process management (BPM) products, financial technology outsourcing provider Broadridge Financial Solutions aims to link its New Account Opening and Account…

SmartStream Enters the SaaS Market

LONDON-Boutique and midsize sell-side firms seeking to deliver a reconciliation service to their customers now have the option of implementing TLM OnDemand, a hosted version of TLM Reconciliations from trade-lifecycle management vendor SmartStream.

FFastFill Preps Dashboard Update

LONDON-Electronic trading software provider FFastFill is planning a mid-year rollout of a new dashboard offering that will make it easier to automatically clear trades, vendor officials tell DWT .

Swift Plans Service Expansion

NEW YORK-Industry messaging cooperative Swift is considering introducing a range of new services in 2009 to expand its penetration within financial firms.

Cloudy concept, clear gains

In an industry beset by acronyms, ‘cloud computing’ has become the latest buzzword and it is yet to be fully understood, let alone implemented, across the buy side. The term means different things to different firms, but it varies subtly to the ASP and…

dynaTrace Debuts Full-Cycle System

BOSTON-Application performance management solution provider dynaTrace software has launched the third version of its dynaTrace product, officials say.

Firms: Business as Usual as Snow Snarls U.K.

LONDON-Despite the disruption caused by the heaviest snowfall the southeast of the U.K. has seen in 18 years on Monday, Feb. 2, investment banks officials claim they were able to operate and have not suffered any major problems.

European CCP Expands into Spain

LONDON-The European subsidiary of the U.S. Depository Trust and Clearing Corp. (DTCC), the European Central Counterparty (EuroCCP), expects to start offering clearing and settlement of equities from Spain next month.

Manual FX Processing Proves Costly

BOSTON-Corporates trades are at the root of the majority of post-trade processing costs at small banks, according to technology vendors.

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