An FIF member would like to discuss with other members the potential for FINRA to provide a certification for technology professionals. If you are interested in this topic, please contact This email address is being protected from spambots. You need JavaScript enabled to view it., and we will include you in this discussion.

FIF Webinar on Trade Surveillance. On July 30, FIF hosted a webinar on trade surveillance for the Compliance and Surveillance Working Group. Tom Jordan, the FIF Advisory Committee Chair, moderated the panel. The panelists were Steve Bonanno of BXS, Ted Karn of The Karn Group, Chris Montagnino of Jordan & Jordan, and Jeremy Vest of S3. Topics discussed during the panel included: monitoring that the surveillance program is working as designed; configuration of alert thresholds; managing the exception handling process; outsourcing of surveillance and required oversight of vendors; and...

BNP Paribas has entered into a definitive agreement to acquire 100% of AXA Investment Managers. According to a story in The Trade news, the deal is set to include an agreement for BNP Paribas’ long term management of a large part of AXA’s assets. It is expected to be signed at the end of 2024 and close in mid-2025, pending relevant regulatory approvals. The merger will create a mega-manager and leading player in the European sphere with roughly €1.5 trillion in assets under management. Specifically, the new entity would be a leading player in long term savings assets for insurers and...

UK asset manager Gravis Capital Management has become the latest to integrate Bloomberg AIM in a bid to enhance its front-office workflows according to a story in The Trade news. Specifically, Gravis is set to utilize Bloomberg AIM to provide operational intelligence and management for its front-office to enhance pre-trade processes and order generation workflow, as well as for fund holdings reconciliation. Bloomberg is also set to provide Gravis with services related to inbound asset servicer integrations and data reconciliation. The asset manager already uses Bloomberg’s...

Fredric Tomczyk, chief executive of Cboe Global Markets, said the group will be less focused on acquisitions and capital will be allocated to organic growth initiatives, investing in the global technology platform and returning cash to shareholders. According to a story in MarketsMedia news, Tomczyk said he is sharpening the strategic focus of the group to areas that have the most valuable growth opportunities. He took over chief executive in September 2023 and has been carrying out a strategic review. As a result, he said Cboe is dialing back on M&A; reallocating resources to...

Interactive Brokers Group, an automated global electronic broker, announced that its wholly owned subsidiary, the CFTC-regulated ForecastEx LLC, started operations on August 1, 2024. According to a story in MarketsMedia news, clients of Interactive Brokers from eligible countries can now trade Forecast Contracts on upcoming economic data releases and climate indicators. Forecast Contracts through ForecastEx facilitate a unique trading approach, allowing investors to hedge against or express conviction on the outcome of key economic and climatic events. The contracts provide a direct method...

Fidelity International has announced that its Physical Bitcoin Exchange Traded Product will list on the London Stock Exchange, making it accessible to professional investors directly in the UK for the first time. According to a story in MarketsMedia news, the listing follows the FCA’s decision to allow exchanges to create a UK listed market segment for crypto asset-backed Exchange Traded Notes (“cETNs”), available for professional investors only. The Fidelity Physical Bitcoin ETP, which tracks the price movement of the world’s leading cryptocurrency and is 100% physically backed by...

FIF will host a webinar on trade surveillance on Tuesday July 30 at 3 pm ET. Holly Dito of Pershing will moderate the panel. The panelists will be Steve Bonanno of BXS, Ted Karn of The Karn Group, Chris Montagnino of Jordan & Jordan, and Jeremy Vest of S3. Topics for the webinar include: monitoring that the surveillance program is working as designed; configuration of alert thresholds; managing the exception handling process; outsourcing of surveillance and required oversight of vendors; use of AI for surveillance (value and limitations); surveillance for fixed income and other asset...

The next call for the OFR Repo Reporting Working Group will be on Monday July 29 at 11 am ET. The Working Group will discuss issues and questions from FIF members relating to the new requirement to report repos that are executed bilaterally and not centrally-cleared. The Working Group will also discuss cross-border scenarios and review a draft supplemental letter to the OFR requesting additional guidance relating to the new reporting requirement.