Stockholm-based Orc, a specialist in electronic trading technology for listed derivatives, reports that it will offer an “expanded trading solution and expert services offering to address new requirements arising from updated European market regulation.” Specifically, the new regulations include the revised markets in financial instruments directive (MiFID II) and the new MiFIR regulation that will… Read More >>
Daiwa Securities Embraces FIX-based Middle Office Solution
Ullink, a provider of electronic trading and connectivity solutions for the financial services industry, reports that Japan’s Daiwa Securities has picked its FIX protocol based middle office solution, UL Middle, for its Asia-Pacific equities electronic trading operations. UL Middle is a “scalable and flexible solution [that] will extend Daiwa Securities’ use of FIX to fully-automate… Read More >>
Why Aren’t Hedge Funds Already at T+0 Reporting?
(Editor’s note: Scott Price, who has been head of business development and client management for North America for Maitland International Holdings since April, says that fund administrators could be doing more to help hedge funds achieve a shorter time frames for reporting. This includes even those hedge fund firms that lack an IT infrastructure. Price… Read More >>
‘I think there’s a big focus on back office now’
Andy Brown is the CEO and co-founder of Sand Hill East, a Basking Ridge, N.J.-based, soup-to-nuts incubator for financial technology startups of all kinds, including post-trade vendors such as Alpha Omega Financial Systems. The San Francisco-based startup is pushing for the post-trade use of the FIX protocol to eliminate manual Ops systems and to deliver… Read More >>
Sell Side Adapts to FIX for Confirmations, Affirmations
It appears that sell-side firms are becoming more comfortable with the extension of the Financial Information eXchange (FIX) electronic trading protocol for post-trade purposes as 75 percent of broker/dealer respondents in a new survey say they use FIX for confirmation/affirmation workflows. The FIX Trading Community, the standards body for the protocol, conducted the Global Post-Trade Survey… Read More >>
FIX Fails to Catch On in Post-Trade Operations: Panel
By now, most financial services firms are fairly familiar with the Financial Information eXchange (FIX) electronic trading protocol for front-office concerns like trade execution. But, thus far, the messaging standard has failed to catch on in the back office even though there is growing evidence that extending the protocol makes sense. The incumbent protocol needs… Read More >>
Is FIX the ‘Stretch-Through Processing’ Standard?
The FIX Trading Community, the keeper of the groundbreaking Financial Information eXchange (FIX) protocol for electronic trading, is widening the reach of the language via a best practices document intended to help firms automate the initial public offering (IPO) process. The FIX group reports that buy-side firms made it known via the FIX Global Buy-Side… Read More >>
FTF Panel: U.S. Markets Should Move to T+0
A panelist at FTF’s ReCon New York event on Thursday is calling for the U.S. securities industry to move to a T+0 settlement cycle rather than the incremental move to T+2, citing the truism that nothing good happens between trade date and settlement. That’s a phrase heard often from operations managers, and it was heard… Read More >>
SS&C: Streamline FIX & SWIFT Messaging
(Editor’s Note: Before SWIFT’s SIBOS conference and exhibition in Boston got underway, FTF News reached out to key vendors working in the post-trade operations space to gather their expectations for the financial messaging cooperative. Bob Shaw, director, electronic trade communications, SS&C Technologies, has responded to our questions. SIBOS was held at the Boston Convention &… Read More >>
HITE Asset Management Sidesteps Vendor Hassles
When James Jampel founded HITE Asset Management in 2004 with $1 million in start-up capital, tinkering with back-office systems and processes wasn’t exactly at the top of his to-do list. Jampel and the employees who later joined HITE wanted to focus on one thing: investing. It’s fitting, then, that a decade later HITE has become… Read More >>
