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January 10, 2013
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News for operations and technology executives in financial services

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  Operations Update 
  • Additional steps an adviser must take to secure client information
    Client information and client asset integrity have become topics in regulatory exams, writes Tom Giachetti, chair of the Securities Practice Group at Stark & Stark. Exam questions are presenting scenarios in which an adviser shares offices with unrelated individuals or entities, and situations in which vendors may have access to client information. Confidentiality agreements are key in these circumstances, Giachetti writes, including with outside parties such as landlords. AdvisorOne (1/1) LinkedInFacebookTwitterEmail this Story
  • DTCC debuts trade repository for FX market
    A global trade repository designed to store data for the foreign exchange market launches today. Depository Trust & Clearing says derivatives-clearing organizations will begin reporting trades to the service, while banks and financial firms operating in the U.S. may do so but are not required to until Feb. 28. The trade repository's debut, while a positive development, is hardly a panacea, Geoffrey Rogow and William Kemble-Diaz write. The Wall Street Journal (1/9), The Wall Street Journal/MarketBeat blog (1/9) LinkedInFacebookTwitterEmail this Story
  Technology Update 
  • Analysis: New rules for derivatives favor platform consolidation
    Derivatives are at the core of the merger of NYSE Euronext and IntercontinentalExchange, Helen Bartholomew writes. The regulatory push to get derivatives centrally cleared opens up new business lines for exchanges with a global reach, product breadth and cutting-edge technology, and those elements combined allow exchanges to create and list "contracts that mirror the economics of [over-the-counter] derivatives," Bartholomew writes. International Financing Review (free content) (1/5) LinkedInFacebookTwitterEmail this Story
  • Knight Capital CEO: High-frequency traders benefit all
    High-frequency traders are essential to the workings of the markets because of the liquidity they provide, Knight Capital Group CEO Tom Joyce writes in this letter to The Wall Street Journal. Joyce argues that it's wrong to blame high-frequency traders for market issues such as the May 2010 "flash crash" or the disappointing Facebook initial public offering. The Wall Street Journal (1/4) LinkedInFacebookTwitterEmail this Story
  Regulatory and Legislative Update 
  • Authorities face challenges in attempts to regulate HFT
    The Financial Industry Regulatory Authority has joined a regulatory effort to rein in high-frequency trading. However, regulators, including the Commodity Futures Trading Commission and the Securities and Exchange Commission, face many challenges in their efforts to govern HFT. The Australian Securities Investment Commission has said it will use HFT technologies to monitor such activity, but it is unclear whether the U.S. regulators have the technology and resources to do the same. CFTC Law (1/9) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • Early-bird rates: SIFMA 40th Annual Operations Conference & Exhibit 2013 at 2012 prices!
    Just added: Featured Speaker-Charles Gasparino, senior correspondent for Fox Business Network! SIFMA's 40th Annual Operations Conference + Exhibit in Boca Raton, Fla., from April 28 to May 1 will bring together senior professionals from all corners of the marketplace at the premier event for financial services operations. Take advantage of early-bird rates so you can engage expert thought leaders to examine the most critical operational, risk management and regulatory issues affecting your firm. In addition, you will gain unique insights and actionable solutions from senior industry professionals, regulators and service providers. LinkedInFacebookTwitterEmail this Story
  • AMF Workshop -- Innovation in Asset Management Operations -- Feb. 6 -- NYC
    Innovation is critical in today's fast-paced business environment. Register to learn how each of us can individually contribute to our own personal growth and development, and how we can be innovative leaders for the buy-side industry. This Asset Managers Forum Workshop is designed especially for operations professionals, will feature panel and roundtable discussions on: Operational Game Changers, The Future Landscape of Asset Management Operations, Central Clearing of Derivatives and more. Also join us the following day, Feb. 7, for our next AMF Member Meeting -- free for members! LinkedInFacebookTwitterEmail this Story
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Man is so made that when anything fires his soul, impossibilities vanish."
--Jean de La Fontaine,
French writer and poet

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