HSBC is the latest client to go live on the recently launched sponsored repo solution built on Broadridge’s DLT-enabled distributed ledger repo (DLR) platform. Through DLT and smart contracts, clients can anticipate substantial improvements in settlement costs, streamlined processes, enhanced scalability, and a marked decrease in operational risks. HSBC is the second client to go…
Category: Capital Markets
Citi invests in Transcend
Transcend, a U.S.-based provider of liquidity, funding, and collateral optimisation solutions, has onboarded Citi as its latest investor. The investment was made through Citi’s strategic investments arm. Citi’s funding will support Transcend’s ongoing global roll-out of its solutions. Citi as the third global bank to invest in the fintech firm. Additionally, a long-term business agreement…
AirFund gets EUR6m funding boost
Amundi and Indosuez Wealth Management have acquired a stake in AirFund to promote the marketing of private asset funds. AirFund is a digital platform created in 2021 to facilitate the link between management companies and distributors of private markets funds with retail investors It raised EUR6m in a recent funding round jointly led by Amundi…
RBC expands sec lending coverage
RBC Investor Services has expanded its securities lending market coverage to client assets held in Malaysia, its 34th market.
Pirum upgrades recalls service for T+1
Pirum, the UK-based fintech focused on securities finance, has launched a borrower automation solution with its Recalls Manager service, enabling full automation of the recall lifecycle with its first clients well ahead of the introduction of T+1 settlement in the US, Canada and Mexico in May 2024. Pirum is going live with multiple agent lenders…
Arcesium wins treasury mandate
PAAMCO Prisma, an alternatives investment firm, has selected Arcesium, a fund administrator in which J.P. Morgan has a strategic stake, to provide treasury management services through its Treasury Suite. Arcesium’s treasury capabilities will provide enhanced transparency and control over PAAMCO Prisma’s collateral management and securities lending activities. PAAMCO Prisma aims to optimise multi-asset collateral allocation…
BNY Mellon launches new FX service
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…
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…