Citibank (China) Co., Ltd. has received final approval from the China Securities Regulatory Commission to launch securities investment fund custody services onshore. Citi is the first major global custodian to be authorised to operate a domestic Chinese fund custody business. Separately, Citi has opened an office at the Busan International Finance Center (BIFC) in Korea.…
Category: Product
State Street partners with Lukka for crypto asset admin
State Street is to provide digital and cryptocurrency asset fund administration capabilities for the firm’s private funds clients in partnership with Lukka, a crypto asset data and software provider. State Street will support its private fund clients with collection, standardisation, enrichment, reconciliation, processing and reporting related to crypto and other digital assets. The partnership comes…
Zodia begins operations in UK
Zodia Custody, the UK-based crypto asset JV between SC Ventures, the ventures and innovation arm of Standard Chartered, and Northern Trust, is now registered with the UK’s Financial Conduct Authority (FCA). The registration means that Zodia Custody can now provide commercial services to clients as a cryptoasset business. Zodia Custody is one of nine cryptoasset…
State Street to acquire Mercatus
State Street has agreed to acquire U.S.-based Mercatus, Inc., a front-and-middle-office solutions and data management provider for private market managers. The transaction is expected to be completed in September, subject to customary closing conditions. Financial terms are not being disclosed. State Street intends to offer a fully integrated platform for growing private market segments including…
CACEIS deploys Broadridge’s SRD II solutions
In response to new regulatory obligations under the updated Shareholder Rights Directive (SRD II), CACEIS in Germany has selected Broadridge to provide solutions for SRD II. CACEIS is using Broadridge’s enhanced global proxy voting platform for its German domestic and cross-border custody operations, The bank is also using Broadridge’s new shareholder disclosure hub, both in…
J.P. Morgan strikes deal with Abel Noser for TCA
Nearly 20 years after its disastrous foray into the transaction cost analysis business, J.P. Morgan has struck a deal with Abel Noser Solutions, a multi-asset TCA provider. Abel Noser’s analytics will be integrated into J.P. Morgan’s platform, providing asset owner and asset manager clients with a multi-asset post-trade TCA solution. In 2002 J.P. Morgan acquired…
J.P. Morgan arrives late to data party
Significantly behind all its major competitors, J.P. Morgan’s securities services division is setting up a new data solutions business. Gerard Francis, who was head of enterprise data solutions at Bloomberg, will head the business, reporting to Teresa Heitsenrether, global head of securities services.
FAB and State Street form MENA alliance
First Abu Dhabi Bank and State Street have formed a strategic alliance that combines FAB’s regional securities services expertise, incorporating the largest direct custody network in the Middle East and North Africa (MENA), with State Street’s global footprint. The alliance will create a full-service offering for institutional investors in the region. It will provide MENA…
Manaos onboards two ESG data providers
BNP Paribas Securities Services’ ESG marketplace, Manaos, has onboarded two new partners – Util and V.E., part of Moody’s ESG Solutions – to supplement its sustainability data and analytics offering. Now live on Manaos, Util’s machine learning models quantify the degree to which every listed company positively and negatively impacts the 17 UN SDGs and…
BNY Mellon to acquire Milestone
BNY Mellon has entered into a definitive agreement to acquire Milestone Group, a U.S.-based provider of fund management technology, including the widely adopted pControl platform. The deal comes just over a year after the two companies formed an alliance to create a suite of oversight and contingent NAV services for asset managers and owners seeking…