Brown Brothers Harriman (BBH) has debuted a solution — NAVqc — intended to help asset managers, management companies, and service providers “more effectively fulfill their NAV oversight obligations across third-party administrators,” officials say. NAV is an acronym for net asset value and helps industry participants gauge the per-share value of mutual funds or exchange-traded funds… Read More >>
NSCC’s Central Clearing to Support Options-Based ETFs
Post-trade infrastructure provider the Depository Trust & Clearing Corp. (DTCC) reports that it is expanding its central clearing capabilities “to support options-based exchange traded funds (ETFs),” a move that will advance post-trade operations for ETFs. “The new capability enables DTCC subsidiaries National Securities Clearing Corp. (NSCC) and Depository Trust Corp. (DTC) to centrally clear ETF… Read More >>
ETF Industry Braces for T+1 Ops Headaches
U.S. regulators are leaving it to the $10 trillion exchange-traded fund (ETF) industry to devise solutions for securities operation headaches arising from the North American transition to T+1 settlement scheduled for May 28 of this year. The International Securities Services Association (ISSA) says it has had some “useful discussions” with the U.S. Securities Exchange Commission… Read More >>
Stock Markets Lost $25 Trillion in 2022: Report
Many observers have noted that last year was not a banner year for stock markets and a global industry group for exchanges and central clearing counterparties has backed up that point of view via a new report showing that “$25 trillion was wiped off global stock markets in 2022.” The new report from the London-based… Read More >>
SocGen to Revamp Derivatives Clearing & Other News
Société Générale to Deploy FIS Solution Société Générale and systems and services provider FIS report that the French banking giant will be using the FIS Cleared Derivatives Suite for a “strategic transformation of its derivatives clearing back-office.” “As part of the agreement, the investment bank and financial services group will transition their existing derivatives… Read More >>
Robo Adviser Settles Conflicts of Interest Case
San Francisco-based robo adviser SoFi Wealth, LLC stands accused by the Securities and Exchange Commission of “breaches of fiduciary duty” regarding approximately 20,000 exchange-traded-funds (ETF) customers. In the customary formulation, the advisory firm neither admits nor denies the SEC charges. However, it is paying the $300,000 penalty. And it has agreed to be censured and… Read More >>
NSCC Automates Collateral Management for ETFs
NSCC Also Adds Support for Fixed Income ETFs National Securities Clearing Corp. (NSCC) officials report that they have launched an automated solution to make the collateral management process for exchange-traded funds (ETFs) more efficient. The changes to this mostly manual process also include new support for fixed income ETF capabilities. “The new NSCC solution fully… Read More >>
Bloomberg Shouldn’t Fear LSE-Refinitiv Deal: Q&A
(FTF News recently got time with Spencer Mindlin, an Aite Group analyst who focuses on exchange-traded funds (ETFs) and front-office trading technology such as execution and order management systems, market data platforms, and emerging financial technology products. Mindlin answered our questions about the London Stock Exchange Group (LSEG) moving to acquire Refinitiv from a Blackstone… Read More >>
Calypso & AI Vendor Target Back Office Ops
Calypso Partners With 2021.AI Financial software vendor Calypso Technology is partnering with an artificial intelligence IT platform provider, 2021.AI, to optimize back-office processes for Calypso’s global client base, officials say. The two vendors will focus on delivering state-of-the-art AI models and Calypso will facilitate access to 2021.AI’s Grace AI platform, officials say. “By partnering with… Read More >>
Advisors Intrigued by Active, Opaque ETFs: Survey
A growing number of financial advisors have expressed interest in a variation of exchange-traded funds (ETFs) that are actively managed and nontransparent in that these instruments allow fund managers to disclose holdings on a quarterly basis, but keep holdings more confidential than typically transparent ETFs, according to Broadridge Financial Solutions, which based its findings on… Read More >>
