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…
Category: Product
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…
BP2S appoints Paul Daly to head distribution products & solutions
BNP Paribas Securities Services has appointed Paul Daly as head of distribution products and solutions. Daly will be responsible for developing and promoting fund distribution products for institutional fund buyers and fund promoters. He will also drive the development of BP2S’s transfer agency solutions. He was previously head of territory for Ireland at BP2S. Based…
Fidelity Digital Assets launches third party clearing & settlement
Fidelity Digital Assets is launching third-party clearing and settlement capabilities with TP ICAP, one of the world’s largest inter-dealer brokers. The collaboration with TP ICAP aims to deliver a new trading model that will enable clients to buy bitcoin with USD stored on the Fidelity platform via TP ICAP’s new digital asset platform, and to…
Northern Trust launches alts servicing digitisation initiative
Northern Trust has launched a machine learning-powered document capture capability as the foundation of a multi-year investment to digitise alternative asset servicing and enhance the experience for clients that invest in complex private market and unlisted assets. The proprietary solution combines robotic process automation and cloud-based technology to provide transparency and data standardisation that enables…
State Street to deploy Canoe’s ML technology for private markets
State Street plans to implement a cloud-based, machine learning technology to transform private markets processing and document management. Through State Street’s partnership with Canoe Intelligence, allocators and managers in the private markets sector will have an integrated experience where traditionally onerous and manual alternative investment workflows will be automated and streamlined, reducing processing time and…
Northern Trust adopts 3D platform for distribution oversight
Northern Trust has entered into an agreement with Distributor Due Diligence (3D) to support its asset manager clients with oversight of distribution of their funds to investors. The service, Network Monitor, will make 3D’s platform service available to clients to support their regulatory responsibilities for performing due diligence of their distributor networks.
Northern Trust extends Swiss presence with Depotbank licence
Northern Trust has received regulatory approval to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in Switzerland. Northern Trust has more than 30 years of experience in providing an extensive range of asset servicing and investment solutions to Swiss clients, and in 2017 established its presence in Basel, following…
Broadridge launches DLT repo platform
Broadridge Financial Solutions, a fintech provider, has gone live with its its distributed ledger repo (DLR) platform. The launch comes after multiple pilots with sell-side and buy-side firms. DLR provides a single platform where market participants can agree, execute and settle repo transactions. DLR allows for the immobilisation of the underlying securities in the repo…