State Street has integrated its Collateral+ platform with Pirum’s CollateralConnect service to support mutual clients with collateral management and optimisation. This collaboration builds on a series of investments in the Collateral+ suite, which was recently expanded to include a tri-party service, which enables buy-side firms to optimise collateral usage and efficiency when posting margin to…
Category: FinTech
Charles River expands wealth management offering
Charles River Development, a State Street company, has established a strategic partnership with Advisor360°, a wealth management software company. The ability for mutual clients to leverage the capabilities of both firms aims to create an innovative and differentiated wealth management solution for the industry. John Plansky, head of State Street Alpha, said: “This partnership signals…
Saphyre completes fundraising round
Saphyre, Inc., a U.S.-based fintech that leverages patented AI technology to structure all pre-trade data while eliminating post-trade inefficiencies, has completed its Series A round of USD18.7m, led by HCAP Partners, with J.P. Morgan and BNP Paribas participating in the round.
Cowen launches digital asset division
Cowen Inc. has launched its digital asset division, Cowen Digital LLC. Based in Stamford, Connecticut, the new division offers full-service trade execution and custody solutions on a platform that provides institutional clients with secure and compliant access to the digital asset ecosystem. Custody solutions are provided through Cowen’s strategic partnership with PolySign’s Standard Custody &…
Bosonic hires Paddy Boyle as global head of clearing & derivatives
Bosonic, a decentralised financial market infrastructure (dFMI) business with a real-time clearing and settlement service for crypto and digital assets — the Bosonic Network – has hired Paddy Boyle as global head of clearing and derivatives. Boyle is based in London and reports into CEO Rosario Ingargiola. He is charged primarily with further building out…
BP2S to deploy Next Gate tech
BNP Paribas Securities Services and Next Gate Tech have reached an agreement through which BP2S will deploy Next Gate Tech’s data management and NAV oversight technology to support its depositary bank operations, initially in Luxembourg. Next Gate is a Luxembourg-based fintech which recently hired Eduardo Gramuglia, formerly head of State Street in Luxembourg, as its…
Vistra to implement Depowise solution
Vistra, the Singapore-based provider of fund administration and corporate services, has established a partnership with Depowise to adopt its depositary solution. Depowise is a European-based provider of regtech solutions. The new partnership allows Vistra to transform and digitise depositary business processes. Depowise will be rolled out across Vistra’s European depositary operations in the UK and…
Carne wins USD32.5bn ManCo mandate
Russell Investments has appointed Carne Group as third-party management company for 11 Russell umbrella funds, covering USD32.5bn AuM across 76 active sub-funds, said to be the world’s largest ManCo outsourcing deal to date, as measured by AuM. The funds are domiciled in Ireland and distributed globally. Russell Investments is a U.S.-based provider of investment solutions…
SEI launches new data management functionality
SEI has launched Ledger, a new functionality designed to provide institutional investors and asset owners with the ability to view, update, and reconcile a comprehensive set of raw data within SEI’s portfolio intelligence tool, SEI Novus. Ledger can help users rectify contradictory or delayed information in order to provide clients with greater transparency, accuracy, and…
State Street bolsters digital management team
State Street Digital has added three executives to its leadership team. Katie Richards joins as global head of operations and Marcus Grubb as global head of product. Both report to Nadine Chakar, head of State Street Digital. Additionally, Derren Selvarajah has joined as product PMO lead for the product strategy team. Selvarajah reports to Grubb.…