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Regulators Discuss SM&CR and IT Failure at UK Parliamentary Hearings
The UK’s parliament’s treasury committee recently held a series of hearings on IT failures in the financial sector. Over the course of the hearings, at which representatives of the Bank of England, the Financial Conduct Authority and the Prudential Regulatory Authority spoke, the regulators discussed work completed and work in progress around operational resilience in…
NIBC Bank Migrates to Torstone Post-trade Platform
Netherlands-based NIBC Bank has completed migration to Torstone Technology’s Inferno post-trade processing platform. Inferno was selected to replace NIBC’s legacy systems as the bank rationalises its operations to drive efficiencies across the wider business. Consolidating processes on Torstone’s SaaS platform will also enable NIBC to benefit from Torstone’s service model, resulting in reduced total cost…
SIX Releases Marijuana Related Data Service
SIX has introduced a service covering over 30,000 securities connected with Marijuana Related Businesses (MRBs). The service reflects the changing legal landscape around marijuana. In the US, marijuana has been legalised in some states, but is criminal at federal level. As a result, in some states MRBs can raise money via capital markets, enabling investors…
Refinitiv Shareholders Agree Merger Deal with LSE, David Craig Remains CEO of Refinitiv
Following our review of the London Stock Exchange Group’s (LSEG) proposed acquisition of Refinitiv through a transaction valued at $27 billion, Refinitiv today announced that its shareholders have agreed definitive terms with LSEG on the acquisition. The approval of LSEG shareholders will be sought at a general meeting to be held before the end of…
FIX Trading Community expands into Post-Trade Processing
Trading industry standards body FIX Trading Community has announced the launch of a newset of message types to further support periodic future payment management in the post-tradespace. The introduction of a new set of FIX standard messages will allow firms to send and receive details relating to expected periodic payments, a process which is done…
Ascendant and ipushpull Partner on Digital Transformation Drive
The playing field on which financial services firms are contending is changing. Past competitive playing fields, such as alpha generation or trading strategies, are becoming less important ways for firms to generate revenue – and instead, in their bread-and-butter businesses, firms are focused on either reducing or optimising costs. And technology is playing a major…
Research Unbundling for US Asset Managers: ‘One Size Fits Nobody’
TradingTech Insight sits down with Joel Burnette, Solutions Consultant at Red Deer, to discuss the response to the research unbundling requirements of MiFID II and explore how US markets are handling the new normal. TTI: What has been the most interesting thing about the North American research market’s response to MiFID II? Joel: We have…
EMIR and MiFID Transaction Reporting Challenges Continue to Trouble Firms and Regulators
Data quality is proving to be an enduring albatross around the necks of financial institutions that must comply with EU reporting rules under MiFID II and EMIR. A recent disclosure by the European Securities and Markets Authority (ESMA) shows that matching rates remain poor for derivatives transactions reported under the European Markets and Infrastructure Regulation…
MiFID II RTS 28 Analysis Highlights Trends in Data Quality and Internalisation
A recent report from regulatory compliance platform provider Cappitech offers a window on how firms are complying with best execution requirements under Markets in Financial Instruments Directive II (MiFID II) by slicing and dicing the MiFID II RTS 28 data that EU-based financial services firms were required to submit to EU regulators in April of…
Traiana Releases Automated Post-Trade Service for Equity Swaps Market
Traiana, a provider of infrastructure service for trade lifecycle solutions, has introduced a service that will automate post-trade lifecycle management of the equity swaps market. The Equity Swaps Lifecycle Management service normalises data reported by swap providers and conducts reconciliation and affirmation of daily valuations, payments and legal confirmations to identify any changes to underlying…