BNY Mellon has launched Universal FX, a new platform that helps clients manage and centralise their portfolio execution, regardless of the location of their custodian, prime broker or trade settlement bank. Targeted clients include investment managers, corporates, hedge funds and wealth managers. Universal FX builds on BNY Mellon’s OneFX suite of solutions and banking capabilities…
Category: Capital Markets
Citi acts as IPA for first DNN issuance
Citi has acted as the issuing and paying agent for the first digitally native note (DNN) issuance under English law via Euroclear’s digital financial market infrastructure (D-FMI) DLT platform. The EUR100m 3-year DNN was issued by the World Bank (IBRD) and listed on the Luxembourg Stock Exchange.
State Street launches T+1 FX solution
In preparation for the US equity market’s transition to a T+1 settlement cycle in 2024, State Street has launched an automated workflow solution and integration with DTCC within State Street’s FX trading service, StreetFX. By connecting to DTCC Institutional Trade Processing (ITP) and its central trade matching platform, CTM, StreetFX can now receive settlement instructions…
BBH adds to Connectors platform
BBH has added Tourmaline Partners’ execution services to its Connectors platform. Tourmaline offers trading solutions for global equities, derivatives, and ETFs. Connectors brings together a cohort of specialist third-party fintech and service providers. Evan Fire, COO of Pzena Investment Management, said: “This is great news for the industry. BBH and Tourmaline are two first-class organisations…
UBS goes live on DLR
UBS has gone live on Broadridge’s newly launched sponsored repo solution built on the DLT-enabled Distributed Ledger Repo (DLR) platform. Broadridge claims that the platform processes USD1trn in monthly volume.
Northern Trust works with Frost Consulting
Northern Trust is working with Frost Consulting, an independent consultant, to examine the challenges for MiFID II in scope managers who may face potential difficulties paying U.S.-based bank research providers which have not registered as RIAs, or are unable or unwilling to accept hard dollar payments at their European office(s) for global research services. The…
UniSuper expands BNPP relationship
BNP Paribas has been appointed by UniSuper, one of Australia’s largest superannuation funds, to provide triparty collateral management services for its global trading activity. This expands the existing relationship between UniSuper and BNP Paribas, which includes custody services in Australia.
Citi gains FMDB approval in China
Citi China has received approval from the Shanghai Futures Exchange (SHFE) and International Energy Exchange (INE) to act as a futures margin depository bank (FMDB) for its QFI clients to trade commodity futures on the SHFE and INE. Citi says it is the first American bank to receive this approval.
Pirum links with FIS
Pirum, the UK-based fintech specialising in the securities finance sector, has launched a service for connectivity and interoperability to automate recalls and callback messages. FIS Securities Lending Processing Platform (formerly Loanet) users can now connect to their counterparties using Pirum’s post trade services or the FIS platform, providing full interoperability and network coverage across the…
BBH gets new sec lending chief
Brown Brothers Harriman has appointed Sarah Holmes as global head of securities lending. She joined BBH in 1995 and previously worked as chief administrative officer within BBH’s systems and technology division. Tom Poppey has assumed the role of head of product strategy in securities lending. In 2022 Marney McCabe, then co-head of global securities lending,…