BNY Mellon and SNB Capital, Saudi Arabia’s largest custodian, are working on a data management solution to support a robust, market-leading and inclusive capital markets ecosystem. Following the 2020 formation of a global custody alliance to deliver securities services capabilities, SNB Capital will deploy BNY Mellon’s data platform within its IT infrastructure in Saudi Arabia.…
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State Street renews data deal with LSEG
State Street and the London Stock Exchange Group have extended their relationship, with an agreement that includes a range of data services to support State Street across its businesses. State Street clients can access market pricing, symbology, and time series data from Refinitiv through the Charles River Investment Management Solution and the State Street Alpha…
Arcesium opens in Delhi
Arcesium, the U.S.-based administrator that claims to have USD675bn AuA, has expanded its India-based operations with a new office in Delhi NCR. The Delhi office will initially have over 300 employees and is expected to triple in size to 1,000 employees over the next two years. The office will be located in DLF Cyber Park,…
Ultimus acquires FD Fund Administration
Ultimus Fund Solutions, the U.S.-based provider of fund administration, accounting and investor solutions, has acquired FD Fund Administration. FD Fund Administration, headquartered in Philadelphia with additional offices in New York City and Minneapolis, is an independent provider of accounting and administrative services. The firm has a focus on real estate, credit, and infrastructure funds. In…
Northern Trust continues automation push for alts business
Northern Trust has partnered with Accelex, a UK-based fintech, to provide asset owners with new capabilities for handling unstructured data. The improvements complement other AI-powered data extraction capabilities that Northern Trust has developed in house for its alternative asset servicing business and for clients of its Front Office Solutions platform. Leveraging Accelex technology, Northern Trust…
U.S. Bank wins WisdomTree BTC ETF mandate
WisdomTree, the U.S.-based ETP specialist with USD75bn AuM, has appointed U.S. Bank as service provider for its proposed Bitcoin Trust ETF, which is currently under review by the SEC.
JTC acquires EFS
JTC, the C.I.-based-based professional services business, has acquired New York-headquartered Essential Fund Services. EFS provides services in the alternative assets space, including accounting, reporting and administration to investment partnerships and their investment managers. The acquisition of EFS follows JTC’s recent purchase of SALI Fund Services, and the 2020 acquisition of NES. EFS provides services to…
Oak promotes three seniors
Oak Group, the C.I.-based administrator, has made three senior management promotions. Catherine Pigeon, Oak’s group chief risk & compliance officer, has been appointed to the board of directors. Nicola Gott becomes chief commercial officer, responsible for the sales and marketing strategy across the group. John Doublard is promoted to chief technology officer. Oak’s technology team…
Deutsche Börse completes deal with Crypto Finance
Deutsche Börse has completed its acquisition of a majority stake in Crypto Finance, a FINMA-regulated provider of trading, custody, and investment services for digital assets. Jan Brzezek, CEO and co-founder of Crypto Finance, and the current management team will continue to lead Crypto Finance and retain a significant stake in the company. Crypto Finance will…
JTC wins new OZ fund mandate
JTC Americas (formerly NES Financial) has been appointed to provide fund administration services for Eagle OZ Fund II, an Opportunity Zone fund that will provide capital for a multi-family land development project in Chicago.