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ISS Magazine’s T2S Roundtable

With the first wave of TARGET2-Securities (T2S) migration less than 12 months away, an ISS virtual roundtable discussed some of the key issues relating to the pan-European platform for securities settlement.

ISS invited Marco Strimer (head operations at Notenstein Privatbank), Hugh Palmer (head of T2S at Société Générale SS), Adriana Tanasoiu (CEO Depozitarul Central) and Eugene Meintjes (executive director group network management, EMEA strategy at UBS) to consider various factors around T2S.

Global brokerage company BGC Partners has reported its financial results for the quarter ended September 30, 2014. Quarterly post-tax distributable earnings increased by more than 80 percent year-over- year to $56m, which was a record for the company, says chairman and chief executive officer Howard W Lutnick. This reflected pre-tax distributable earnings growth of 54 percent for its real estate services business and 74 percent for its high margin fully electronic businesses.

Bullet points: Assets under administration increased in the third quarter by 7 percent to €385bn. 

The Australian Securities Exchange (ASX) and GoldenSource, an independent provider of enterprise data management (EDM) solutions for the securities and investment industry, reportthe successful rebuilding of ASX’s core back office systems.

On November 3, SIX Swiss Exchange will launch the Sponsored Foreign Shares trading segment in which international blue chip equities can be traded. 

Global asset administrator Mitsubishi UFJ Fund Services has appointed Confluence, recognised as a global leader in investment data management automation, to provide Mitsubishi UFJ Fund Services with a range of reporting solutions for its new  Annex IV Reporting Services for alternative investment fund managers (AIFMs).

MOL Global Inc has appointed BNY Mellon as the depositary bank for its American depositary receipt (ADR) programme. This is said to be the first such exchange-listed programme to emerge from Malaysia.

SimCorp Dimension convinces Aegon

Aegon Asset Management has chosen SimCorp Dimension as the new back-office platform for its Netherlands operations.

New instruments for ICE Clear

Intercontinental Exchange, the global network of exchanges and clearing houses, reports that ICE Clear Credit has introduced clearing for Hungary and South Africa credit default swap (CDS) instruments for dealer-to-dealer and client clearing.

SIX CEO named WFE chairman

Dr. Urs Rüegsegger, Group CEO of SIX, has been elected as the new Chairman of the WFE working committee at the annual meeting of the World Federation of Exchanges (WFE) in Seoul. 

SCM Private in UK mandates SGSS

Specialist investment company SCM Private has mandated Societe Generale Securities Services (SGSS) in the UK to provide a wealth and investment management administrative outsourcing solution for its three newly launched direct-to-consumer online wealth management solutions.

OpenGamma names Mark Beeston as chairman

OpenGamma, a provider of OTC market structure risk management and analytics solutions, says that Mark Beeston has been appointed as chairman of its board of directors. OpenGamma also appointed Cristóbal Conde, former CEO of SunGard, to its board.

Change at the top for Deutsche Börse

Bullet points: Deutsche Börse CEO Reto Francioni will hand over to his successor after the Annual General Meeting 2015. Carsten Kengeter takes over as CEO from  June 1 2015. Deputy CEO Andreas Preuss extends contract.

BNY Mellon picks Singapore for new FX dealing room

Bullet points: Move in recognition of Singapore's growing status as a global centre of excellence for FX trading. Company believes Singapore will continue to grow in dominance in the Asia-Pacific FX space over the next five years.

BNY Mellon hails Namibia first

BNY Mellon has been appointed by Trustco Group Holdings Limited of Namibia as depositary bank for its sponsored American depositary receipt (ADR) programme. Each ADR represents 100 ordinary shares and trades on the OTC Market under the symbol "TSCHY." Trustco's ordinary shares trade on the Johannesburg Stock Exchange under the code "TTO" and on the Namibian Stock Exchange under the code "TUC."

One stress test completed, another to follow

Following the European Banking Authority (EBA)'s publication of the results of its EU-wide stress test, the Bank of England says its own 2014 UK stress testing exercise will build on the EU-wide stress test by exploring particular vulnerabilities facing the UK banking system. As previously announced, the Bank of England will publish the results of the UK variant stress test on Tuesday December 16.

Rival infrastructure emerging?

Could the world's financial markets be about to witness the emergence of non-traditional infrastructure to rival established systems? 

Cyber attack threat takes centre stage

Cyber security now ranks as the principal concern of the financial services industry, in the wake of several recent high-profile cyber attacks on major sectors of the global economy. 

Neonet, Commcise for commission management solution

Neonet Securities, the independent agency broker and execution specialist, says it has partnered with Commcise, the independent buy-side investment technology vendor, to broaden its service offering within commission management.

Uzbekistan counts on Russia's CSD

Russia's National Settlement Depository (NSD), which acts as a substitute numbering agency in the Republic of Uzbekistan, has begun assigning international codes to Uzbek issuers’ securities and transferring them to the international database of the Association of National Numbering Agencies (ANNA). The NSD was awarded this authority in 2007.

BNPPSS looks forward to Halloween

BNP Paribas Securities Services reports the launch of an outsourcing service for AIFMD reporting (the initial waves of “first time” reporting for fund managers under the directive will take place on October 31 2014 (Halloween!) and January 31 2015). 

SIX Financial does Hong Kong

 SIX Financial Information is expanding its regulatory coverage to include the Securities and Futures Commission (SFC)-authorised products for Hong Kong clients.

Traiana completes first equities trade

Credit Suisse, J.P. Morgan and Instinet to use Traiana to clear OTC equity trades at LCH.Clearnet and EuroCCP.

NICE to tackle money laundering

NICE Actimize, a NICE Systems business and provider of a single financial crime, risk and compliance software platform for the financial services industry, says that it has partnered with Alacra, Inc, a provider of online business information solutions.


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