SEB, the Nordic financial services group, and Nasdaq, Inc. have announced a joint project to test a developed prototype for a  mutual fund trading platform based on blockchain technology. The aim is to increase efficiency in the processing of purchases and sales of fund units and to create a unit ledger – an area which today is largely characterized by manual routines, long settlement cycles and paper driven processes. The concept of the project indicates that, by subscribing to a private blockchain, the various market participants—fund companies, distributors and...

Nasdaq announced the completion of its acquisition of Sybenetix, a leading surveillance provider that combines behavioral analytics and cognitive computing with financial markets expertise. Nasdaq entered into an agreement to acquire Sybenetix on July 25, 2017. The deal will expand Nasdaq’s position in the surveillance space and make it a provider to the buy-side industry.

Broadridge Financial Solutions, Inc. announced the appointment of Bob Santangelo to President of International Sales, based out of Broadridge’s London office. In his new role, Bob will focus on international growth opportunities in EMEA and APAC.  He was previously responsible for Broadridge’s global Bank Broker-Dealer distribution channel, including global sales management, business development and strategic client initiatives. Santangelo joined Broadridge in 1992, when it was a division of ADP, and has served in various roles of increasing responsibility within the...

On September 7, 2017, Thesys CAT, LLC published the first draft of the Industry Member CAT Technical Specification.  The CAT Operating Committee is soliciting feedback on the initial draft of the Tech Spec by October 16, 2017.  FIF will be scheduling working group meetings shortly to address issues raised in the spec.

Nasdaq said it would acquire money management analytics firm eVestment for a combined $705 million in cash and stock. Jim Minnick, CEO and co-founder of eVestment, will remain with the firm, and eVestment will retain its brand name. eVestment offers a database of traditional and alternative investments for institutional clients including money managers, investment consultants and pension funds. The firm will become part of Nasdaq Global Information Services, the exchange operator's benchmark and market data unit. Nasdaq already provides trade surveillance services as well as a mutual fund...

The Depository Trust & Clearing Corporation announced that Japan Trustee Services Bank, Ltd. (JTSB) and The Master Trust Bank of Japan, Ltd. (MTBJ) have gone live on the Omgeo ALERT for Trustee Service via global custodian Brown Brothers Harriman & Co. (BBH). The ALERT for Trustee Service connects to ALERT’s Global Custodian Direct (GC Direct) workflow for those markets where trustees are the legal owners of investment fund assets. BBH, the first custodian to onboard trustee-affiliated investment managers to the service, has been an ALERT GC Direct user since 2015. JTSB and...

Goldman Sachs received approval to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding into the kingdom. Western financial institutions have been looking to tap new opportunities in Saudi Arabia since the government unveiled plans for oil giant Saudi Aramco’s $100 billion initial public offering and introduced reforms to attract foreign capital as part of moves to reduce the economy’s dependence on oil. Goldman, which has been operating in the kingdom since 2009 as an agent and underwriter, applied to the Saudi Capital...

On Thursday (8/31) the Financial Information Forum is launching a Reg SCI Best Practices Working Group to assist Reg SCI entities with Reg SCI compliance, as well as to educate and assist member firms that are not yet Reg SCI entities (Broker-Dealers, ATSs, Service Bureaus) with gaining a better understanding of Reg SCI best practices for incorporation within their firm.  For more information, please contact the program office at This email address is being protected from spambots. You need JavaScript enabled to view it..

Nasdaq, Inc. has announced the availability of proprietary U.S. equity feeds from Equinix’s London International Business Exchange located in Slough, U.K. As part of Nasdaq’s efforts to bring U.S proprietary equities data to a larger audience, Nasdaq now offers Nasdaq TotalView and Nasdaq Basic from LD4. Nasdaq Basic combines Nasdaq Best Bid and Offer (QBBO), with either Nasdaq Last Sale (NLS), or Nasdaq Last Sale Plus (NLS Plus). This new Point of Presence (PoP) will allow firms direct access to U.S. market data from the source, as well as the opportunity to subscribe to...