Friday, June 7, 2024

FLASH FRIDAY

Flash Friday
FLASH FRIDAY: Sun Belt Stock Exchange, Then and Now 

FLASH FRIDAY: Sun Belt Stock Exchange, Then and Now 

As the Texas Stock Exchange preps its debut, we look back at the story of the Arizona Stock Exchange. 

FEATURED

Traders Feature

BOX Options Stays Ahead of the Curve

The Exchange always tries to be an innovator, said CEO.

LATEST NEWS

Banks to Increase Tech Spending, Finds Survey

Investment banks are considering the use of technology to enhance productivity and efficiency.

IOSCO Publishes Final Report on Market Outages

Industry group outlines good practices around areas including outage plans, communication plans, and reopening of trading.

Robinhood to Buy Bitstamp

Retail broker acquires a crypto exchange with retail and institutional customers in the EU, UK, US and Asia.

SEC Invites Regulated Entities to Submit Self-Assessments of Diversity Policies and Practices

The self-assessments are voluntary and not part of the SEC’s examination process.

Best New Product: State Street Alpha AI for Data Quality

Global financial services firm was recognized at the 2024 Market Choice Awards.

BNY Mellon’s Pershing Integrating Platforms for Advisors

Advisors can move more seamlessly between custody and wealth management platforms.

Texas Stock Exchange Aims to Launch

Startup electronic securities exchange will seek registration with the U.S. Securities and Exchange Commission.

Market Complexity Prompts Investment in Risk Management Technology

Coalition Greenwich report shows fewer than half of risk professionals are confident in their current processes.

DTCC: First Week of T+1 Was a Success

CEO Frank La Salla says the industry has begun to achieve benefits of accelerated settlement.

TECH TUESDAY

TECH TUESDAY: The View from Nasdaq: The Transition to T+1

Giang Bùi, Head of US Equities and ETPs at Nasdaq, discusses the implications of accelerated settlement.

Commentary

ON THE MOVE

BUYSIDE

Bill Ackman’s Pershing Square Sells $1.05bn Stake

Bill Ackman’s Pershing Square Sells $1.05bn Stake
A 10% equity interest in the hedge fund company was sold to a consortium of strategic investors.

Best in Wealth Management: Park Avenue Securities

Best in Wealth Management: Park Avenue Securities
Broker-dealer/RIA was recognized at the 2024 Market Choice Awards.

Gensler: Statement on Upcoming Implementation of T+1

Gensler: Statement on Upcoming Implementation of T+1
"It will make our market plumbing more resilient, timely, and orderly."

T+1 Triggers an FX Tech Evolution, not Revolution for Asset Managers

T+1 Triggers an FX Tech Evolution, not Revolution for Asset Managers
By Scott Gold, Head of Sales, Americas at SGX FX

REGULATION

Flash Friday

FLASH FRIDAY: Evaluating Access Fees Proposal

Broker-dealers anticipate another market structure proposal to be adopted soon.

Canada Adopts Final Rules Related to T+1 for Mutual Funds

Regulator clarifies payment dates for transactions and the timeframe for forced redemptions.

Firms Need to Choose the Right Affirmations Model under a T+1 Timeline

The reporting requirements do not differ between the two affirmation affirmation models.

RETAIL REPORT

DriveWealth Announces New Executive Hires Across Product and Operations Teams

Kyla Murphy joins as Chief Product Officer; Lauren Veisz will be Head of Operations.

Schwab Helps Investors Cut Through the Noise

The trading desk is focused on innovating for clients in ways that reflect traders’ needs.

Brokerage

Fenergo Launches AI-Powered Client Lifecycle Management

Aim is to boost efficiency and reduce costs associated with KYC and AML compliance.    

Excellence in Fixed Income: Deirdre Dunn, Citi

Head of Global Rates was recognized at the 2024 Market Choice Awards.

Bloomberg BFIX Introduces First Value T+1 FX Fixing Rates

Banks can use the benchmarks to match or ‘net’ orders to reduce credit impact at scale.

ACA to Acquire the Broker-Dealer Distribution Business from UMB Fund Services

Acquisition expands ACA Foreside’s distribution leadership.

Chat Strategies Integral to Driving Next Phase of Automation Across Trading Lifecycle

The white paper reveals extent of institutional chatbot adoption.

Digital Assets

Financial Market Infrastructures Develop Framework to Advance Adoption of Digital Assets

By 2030, the tokenization of global illiquid assets is projected to be a $16 trillion business opportunity

Ouinex Selects Netdania to Power Crypto Trading Platform

The partnership aims to set a new standard for cryptocurrency trading.

Wholesale Market in Crypto is Just Starting

It will take time to develop a diverse array of market participants and execution protocols.

Cboe Global Markets Realigns Digital Asset Business

Exchange operator will fold digital asset derivatives trading and clearing into existing business lines.

Canadian Securities Regulators Update On Interim Approach To Value-Referenced Crypto Assets

The CSA is extending the April 30 deadline to October 31, 2024.

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