Fidelity Investments is establishing a new entity to serve European institutions investing in digital assets. Fidelity Digital Assets, Ltd. will offer custody and trade execution services for digital assets to investors such as hedge funds, family offices and market intermediaries. This business builds upon the company’s 2018 launch of Fidelity Digital Asset Services in the…
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Aztec appointed as depositary for Stafford Capital Partners
The Aztec Group, a C.I.-based administrator, has been selected to provide depositary services to Stafford Capital Partners, a U.S. real assets and private markets investment and advisory group. Aztec will act as a depositary to 13 investment vehicles with over USD1.9bn in assets.
HSS partners with AcadiaSoft for IMS
HSBC Securities Services will partner with AcadiaSoft to deliver a full end-to-end independent Initial Margin Service for its clients who are preparing for Phase 5 and Phase 6 regulatory initial margin. This functionality will enable HSS to calculate initial margin in compliance with the ISDA standard initial margin model (SIMM) independent of the clients’ counterparty.…
FIS takes majority stake in Virtus
FIS, the U.S.-based technology firm, has acquired a majority stake in the specialist alternatives fund solutions provider, Virtus Partners. Virtus focuses exclusively on managers in the credit space. Terms were not disclosed.
Storebrand appoints Northern Trust in Luxembourg
Northern Trust has been selected by Nordic investment manager Storebrand Asset Management AS as asset servicing provider for its AIF and UCITS funds domiciled in Luxembourg. Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg. The UCITS umbrella fund will operate a number…
State Street partners with Gemini for digital asset reporting
State Street has launched a new digital asset pilot in collaboration with Gemini Trust Company, LLC, a cryptocurrency exchange and custodian. The pilot will combine Gemini Custody with State Street’s back office reporting, performing reporting scenarios on a user’s holdings within Gemini Custody. Initially, the pilot reports holdings of two cryptocurrencies chosen for liquidity reasons,…
VFMC selects BNY Mellon’s Eagle for data management
Victorian Funds Management Corporation (VFMC) has selected BNY Mellon’s Eagle Data Management product to underpin its data and IT transformation strategy. The solutions, hosted on Eagle ACCESS, a secure private cloud, also include a managed services agreement to integrate, clean, enrich and validate multiple sources of investment data into one centralised location and help manage…
Northern Trust launches Margin Segregation service for OTC derivatives
Northern Trust has expanded its collateral management services for OTC derivatives trading. The new functionality will enable asset managers and institutional investors to outsource aspects of regulatory compliance to Northern Trust and optimise collateral selection. The Margin Segregation Service includes new capabilities that streamline complex processes for meeting uncleared margin rules, such as undertaking industry-standard…
RBC launches collateral management service
RBC Investor & Treasury Services has launched its collateral management service. This middle office solution centralises and interprets collateral management data to help asset managers comply with BCBS and IOSCO rules for non-cleared derivatives. RBC has deployed technology provided by CloudMargin via IHS Markit. The service includes: Centralisation of standing settlement instructions and CSA contracts;…
Fondo.Fon.Te. appoints SGSS as depositary in Italy
SGSS in Italy has been selected as depositary by Fondo Fon.Te., the collectively agreed supplementary pension fund for employees of businesses in the tertiary sector (commerce, tourism and services), the third largest in Italy by assets under management, with a total of EUR4bn.