[ N E W S R O U N D - U P ]
PEOPLE ON THE MOVE
NEWS ROUND-UP
˜ BNP Paribas Securities Services has become the latest custodian to initiate plans for a digital asset custody offering , enlisting the support of fintech duo Fireblocks and METACO .
˜ HSBC and Mount Street Group have entered into a 10-year asset servicing agreement with Aviva Investors for its Real Assets business which manages £ 50 billion in assets .
˜ AccessFintech has successfully raised $ 60 million in a Series C funding round which saw a first-time investment from BNY Mellon along with further backing from JP Morgan and Citi . Additional investment was secured from Bank of America , Goldman Sachs and Dawn Capital .
˜ Standard Chartered has been named as sole global custodian for Singapore ’ s first authorised VCC T + 0 money market fund , managed by iFAST Financial .
˜ HSBC has obtained an arranging custody licence for its sovereign , institutional and investment manager clients in the Abu Dhabi Global Market ( ADGM ).
˜ State Street has partnered with FactSet to streamline data flows across the front , middle and back-office through State Street Alpha ’ s data platform .
˜ Following SEC approval , the DTCC has launched a new service to enable issuers to directly provide its subsidiary , The Depository Trust Company ( DTC ), with IRS Form 1042-S tax withholding information on distributions prior to the payable date , lowering the amount of tax withheld on distributions for non-US investors .
˜ Euroclear Bank has confirmed it is currently working on launching partial release functionality for clients with omnibus account structures , Global Custodian can reveal .
˜ Asset management consultancy MJ Hudson has introduced a new custody benchmarking service specifically for clients investing in digital assets . The firm said the new service will benchmark the capabilities of major custodians for key themes across digital asset custody provision .
˜ The Australian Securities Exchange ( ASX ) has further delayed the rollout of its replacement post-trade platform based on distributed ledger technology , noting that more development is required than previously anticipated .
˜ Euroclear has made an investment in Impact Cubed , a provider of ESG techenabled analytics and data science solutions .
˜ BNY Mellon has signed a strategic partnership with MENAT-based banking group Emirates NBD Group , with a view to improving investor access and accelerating the growth of UAE capital markets .
˜ Clearstream has entered into a cooperation agreement with China Foreign Exchange Trading System to enable Chinese market participants to trade ESG-eligible triparty repo bonds .
˜ Societe Generale Securities Services is now offering to act as fund custodian , valuator and liability manager for asset managers looking to promote their digital asset offerings within the European regulatory framework .
˜ CIBC Mellon has been chosen to provide asset servicing solutions to the Toronto-based Princess Margaret Cancer Foundation and StonePine Asset Management .
˜ Broadridge has released a multijurisdictional version of its blockchainbased private equity platform , Private Market Hub , making the service available to funds domiciled in North America .
˜ S & P Global Market Intelligence has integrated its Onboarding Accelerator tool into its securities finance platform , allowing for improved transparency and efficiency for clients .
˜ Ahead of the roll-out of UMR phase six , SIX launched a new triparty collateral management ( TCM ) solution to help clients reduce operational risks and costs .
˜ SS & C will be combining its global fund administration and its servicing businesses under the SS & C GlobeOp brand , with Bhagesh Malde appointed to lead the joint business . The new group will continue to operate as SS & C GlobeOp and amalgamates SS & C ’ s hedge fund administration , private markets administration , middle-office , and insurance global servicing capabilities .
6 Global Custodian Fall 2022