ISSA (the International Securities Services Association) reports that it has established a new Working Group to explore and understand the challenges and activities in financial crime compliance. The Working Group is comprised of leading industry practitioners, many also represented on the Board of ISSA, who will review the growing range of transparency regulations with a view to arriving at a series of clear, actionable and measurable principles for the industry to follow.
Australian superannuation fund UniSuper says it has appointed BNP Paribas Securities Services as its master custodian. It says the appointment follows an extensive tender and review process. A number of organisations were identified as having the capacity to cater for its current and future needs and were invited to tender for the business.
Societe Generale reports the launch of “Tempo”, which it describes as a comprehensive and innovative collateral management outsourcing solution aimed both at buy-side and sell-side market participants, including traditional and alternative asset managers, institutional investors, banks and major corporates. A multi-asset offering, Tempo alleviates the complexity, cost and operational burden of collateral management throughout the entire value chain, it says.
Christian Katz, division CEO Swiss Exchange, has decided to leave SIX at the end of April. The company says his decision is based on diverging views on the strategic direction and on the further development of the business area Swiss Exchange.
LCH.Clearnet Group, the global clearing house, says it has appointed Steve Briscoe as the new group head of technology and operations, responsible for the provision of IT and operations across the group’s legal entities.
A deep slough of despond settles upon markets – and not just because this is my last porridge until UK Election Day on May 7. I’ve got to keep this morning’s missive short as I’ve got lots to do before I exit stage left.
Northern Trust reports that it has enhanced its processing capabilities for investment fund transactions in the UK, improving accuracy and increasing efficiency, in co-operation with the UK’s central securities depository Euroclear UK & Ireland (EUI).
RBC Investor & Treasury Services says it has launched a solution to monitor and stress test collateral liquidity. This will help firms comply with new collateral requirements as prescribed by the European Securities Markets Authority (ESMA), it says.
China Universal Asset Management (Hong Kong) Company Limited (CUAMHK) has appointed BNP Paribas Securities Services to provide it with custody and fund administration for its RQFII UCITS fixed-income fund and to facilitate access to the Shanghai Hong Kong Stock Connect programme.
“It’s the little stuff that matters. Little things make big things happen.”
Well, that was a weekend that was.. An element of marine-horror overkill as I redid my ocean safety and sea survival certificates. There was lots of pleasant stuff like secondary drowning, hypothermia, how to survive 118 days on a liferaft eating barnacles and distilling your own bodily fluids, what not to do when a container ship crushes the yacht beneath it, and discovering it’s even more difficult to get into a liferaft than last time because.... well.. I seem to have expanded. As I reminded my crew at the end... yachts don't always sink.
UK equities specialist Ian McVeigh is to take on the newly created role of head of governance at Jupiter. After managing portfolios at the firm for 12 years, he will step away from day to day fund management, including co-managing the successful Jupiter UK Growth Fund.
SimCorp is trumpeting the launch of a new IBOR portal which it says provides a comprehensive overview of the requirements and benefits of the Investment Book of Record, including case stories and industry insights.