BNY Mellon and its fund manager clients are scrambling to assess the damage caused after a third party system run by SunGard and used by the bank to value assets worth billions of dollars broke down.
Almost half of asset managers are still reliant on costly manual processes to manage complex derivatives creating a dangerous level of operational risk according to a report from buy-side systems vendor SimCorp.
Financial data outfit Markit has agreed to buy DealHub, a provider of trade processing and trading services to the foreign exchange market. Financial terms were not disclosed.
The Legal Entity Identifier (LEI) project, whereby every counterparty in a financial transaction is issued a unique code, is suffering from a lapse rate of 20% according to research from entity data provider Alacra.
The $1 trillion Australian bond and fixed income markets are to move to a T+2 settlement timeframe from early next year, complementing a similar constriction in the post-trade lifecycle in cash equities mandated by the Australian Stock Exchange.
Financial data outfit Markit has continued its acquisition spree with a $200 million deal for New York-based CoreOne Technologies.
FIS has signed a definitive agreement to acquire Sungard for $9.1 billion in a cash and stock deal, creating a fintech powerhouse covering the full spectrum of banking and capital markets services.
Computer services group CSC is to make a concerted push into the provision of managed services for capital markets firms with the acquisition of London-based Fixnetix.
With dozens of the world's biggest banks already investing heavily in the blockchain, it is just a matter of time before the technology creates far-reaching disruption in the financial services industry, says a new report from BBVA Compass economists.
The European Commission has finally green-lighted new rules that make it mandatory for certain over-the-counter (OTC) interest rate derivative contracts to be cleared through central counterparties.
Deutsche Bank is the latest major financial institution to laud the potential of the blockchain, confirming that it is exploring the use of distributed ledger technology for everything from securities clearing and settlement to anti-money laundering registries.
© Finextra Research 2015