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,…
Category: Bank Providers
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.
Northern Trust to service Corry Capital Advisors’ U.S. commingled funds
Northern Trust has been appointed by Corry Capital Advisors (CCA) to provide fund administration and related services for its U.S. commingled funds. Pittsburgh-based CCA appointed Northern Trust earlier this year to provide fund administration and depositary services for Irish-domiciled funds. With approximately USD1.3bn AuM, CCA invests in non-contestable life insurance policies.
State Street confirms expansion of relationship with VanEck to include ETFs
State Street has confirmed that it has expanded its servicing arrangement with VanEck, the New York-based manager, to provide ETF services for nearly USD40bn of assets. As part of this arrangement State Street will provide a variety of back office services, including accounting and certain administration functions, for more than 60 VanEck funds. BNY Mellon…
Niccolo Polli to head HSBC Securities Services in Luxembourg
HSBC Securities Services has appointed Niccolo Polli as head its Luxembourg business. Polli will continue in his current role as head of Luxembourg for HSBC. He replaces Nick Maton, who is understood to be leaving the bank.
State Street appoints Brian Franz as chief information officer
State Street has appointed Brian Franz as chief information officer. Franz, who joins the company in January 2020, will report to chief operating officer, Lou Maiuri, and will become a member of the management committee. Franz joins from Diageo PLC. His appointment follows the departure of Antoine Shagoury, the previous CIO, earlier this year, and…
BNY Mellon and SimCorp connect
BNY Mellon and SimCorp are connecting BNY Mellon’s custody services with SimCorp’s front-to-back investment management system, SimCorp Dimension. This follows BNY Mellon’s recent deals with Bloomberg and BlackRock Solutions.