Most Clicked SIFMA SmartBrief: Operations and Technology Edition Stories


1. JPMorgan software identifies potentially rogue workers

SIFMA SmartBrief: Operations and Technology Edition | Apr 09, 2015

Sally Dewar, JPMorgan Chase's head of regulatory affairs for Europe, is overseeing an algorithmic program that identifies employees who might go rogue. The software considers dozens of factors, including whether an employee violates trading rules or fails to attend compliance classes. "It's very difficult for a business head to take what could be hundreds of data points and start to draw any themes about a particular desk or trader," Dewar said. "The idea is to refine those data points to help predict patterns of behavior." Bloomberg (04/08)


2. Fixed-income market gives attention to best execution

SIFMA SmartBrief: Operations and Technology Edition | Mar 26, 2015

Regulatory initiatives pursuing best execution in the equity market are expanding to include the fixed-income market. The trend is likely to affect bond pricing on alternative trading systems. MarketsMedia (03/20)


3. Compliance jobs see higher pay, greater risk

SIFMA SmartBrief: Operations and Technology Edition | Apr 09, 2015

Compliance positions are increasingly valuable as regulation changes, with compensation in the millions for top performers. JPMorgan Chase and Citigroup have greatly increased the size and pay for compliance units. Financial Times (tiered subscription model) (04/06)


4. Centralized view of operations difficult to achieve

SIFMA SmartBrief: Operations and Technology Edition | Apr 16, 2015

Putting together a centralized view of a financial firm's compliance, operations, surveillance, trading and risk-management activities is important for transparency but remarkably difficult to achieve. Reaching the goal requires mastery of multiple in-house and vendor-based systems, all handling data in different ways. MarketsMedia (04/15)


5. Tom Price: What to expect from SIFMA OPS 2015 in San Diego

SIFMA SmartBrief: Operations and Technology Edition | Apr 09, 2015

SIFMA OPS 2015 next week in San Diego will be a wide-ranging, content-driven event providing information on the tools available to manage operational risk and prepare for changes in the operational landscape, according to Tom Price, managing director, operations, technology and BCP for SIFMA. "A multitude of reforms and initiatives are either in progress, under review, or pending approval of a new rule," he notes. SmartBrief/SmartBlog on Finance (04/09)


6. House approves cybersecurity legislation

SIFMA SmartBrief: Operations and Technology Edition | Apr 23, 2015

The House voted 307-116 to approve legislation that is intended to encourage companies to share cyberattack information. However, lawmakers put a time limit of seven years on the measure. The Senate might vote on its own version of the measure next week. SIFMA expressed concerns with any efforts that would sunset this critically important legislation. Wall Street Journal (tiered subscription model), The (04/23) New York Times (tiered subscription model), The (04/22) Bloomberg (04/22)


7. New market structure leads buy side to seek help from sell side

SIFMA SmartBrief: Operations and Technology Edition | Apr 02, 2015

The relationship between the buy side and the sell side is changing, driven by quantitative performance assessments, increasing market complexity and sell-side consolidation, says Joe Mecane, managing director, electronic equities and credit products, at Barclays. The buy side wants help from the sell side in dealing with these developments, he notes. MarketsMedia (04/01)


8. SEC calls for FINRA registration of prop-trading firms

SIFMA SmartBrief: Operations and Technology Edition | Mar 26, 2015

The Securities and Exchange Commission has approved a proposal to increase oversight of high-frequency-trading firms, voting unanimously to require proprietary-trading companies to register with the Financial Industry Regulatory Authority. The SEC will gather feedback on the change, which needs approval again before going into effect. Financial Times (tiered subscription model) (03/25) Wall Street Journal (tiered subscription model), The (03/25) Reuters (03/25)


9. CAT project won't be completed soon, SEC's Stein says

SIFMA SmartBrief: Operations and Technology Edition | Apr 16, 2015

The Securities and Exchange Commission approved the consolidated audit trail in July 2012, but administrative obstacles have delayed completion of the market surveillance tool, said Commissioner Kara Stein. Speaking at SIFMA's 2015 Operations Conference & Exhibit, Stein said implementation of the CAT project remains years away. Stein also discussed the role of data in the markets, legal-entity identifiers and the idea of shortening the settlement cycle. Read Randy Snook's remarks on CAT and more from the conference. MarketsMedia (04/15) Politico Pro (subscription required) (04/14) Law360.com (subscription required) (04/14) Traders Magazine Online (04/15) SmartBrief/SmartBlog on Finance (04/15)


10. Effort afoot to reinvent global payments system

SIFMA SmartBrief: Operations and Technology Edition | Apr 09, 2015

Hank Uberoi, who was once head of Goldman Sachs’s global technology systems, is putting together an entirely new way to run the $21 trillion global payments system. Several banks and other financial institutions have signed up to have his company, Earthport, help them send money to more than 60 countries. Bloomberg (04/07)




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