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T+2: a growing challenge
Article
01 Jul 2014

In order to reduce the current high rates of trade fails and associated costs and operational risks, Central Securities Depositories Regulation (CSDR) necessitates a move to T+2 or less for all European Union (EU) markets by 2015. In this article, Denis Orrock, CEO at GBST Capital Markets, examines the implications of such move and the primary areas of focus for investment in order to embrace this global phenomenon.

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Market utilities: useless or useful?
Article
01 Jul 2014

It is only a matter of time before one of the larger international service providers realises that service delivery to the retail broker-dealer space sector is not as complicated as many believe, says Denis Orrock of GBST Capital Markets.

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“Fees and Commissions” article published in Best Execution
Article
13 Feb 2014

Denis Orrock, CEO, GBST Capital Markets examines the growing challenge of dealing commission transparency.

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Final hurdle: rising to the operational challenge of transaction taxes
Article
14 Oct 2013

One may speculate that with Chancellor Angela Merkel’s Christian Democratic party having secured a quite remarkable third term in office, the last in a long line of potential hurdles for the advocates of a Financial Transaction Tax (FTT) in Europe has been overcome, writes Denis Orrock.

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Bracing for a Global Shift: Transaction Taxes
Article
26 Jul 2013

In July, the 11 European countries who are working in cooperation to introduce financial transaction taxes moved even closer to agreeing FTT rules and rates, despite global pressure from financial institutions. Within six months, these countries could be introducing their own individual rules.

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Do we really understand the FTT headache?
Article
15 May 2013

The EU Financial Transaction Tax has a very high global profile, as trading entities and legislators begin to understand the potential impact that lies ahead. Capital markets and buy-side firms have now implemented their solutions to handle the French tax and elements of the Italian tax while the task of getting prepared is underway, or at least on the agenda, for most Heads of Tax or Operations for other FTT’s. The major consultancy firms are busy advising asset managers, banks, brokers and custodians globally on the best approach as the FTT sands continue to shift.

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What to ask wraps over unit rebates
Article
26 Sep 2012

Most retail distribution review (RDR) controversy has come and gone, but there is one topic guaranteed to still inflame emotion. Mention the ban of cash rebates among the platform provider community and you’re likely to be stuck for a good 20 minutes while spleens are vented.

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Composer® FoFA Readiness Review
Case Study
05 Sep 2012

Independent Review by Praxis Partners – “FoFA Reform Readiness Review” – confirms GBST Composer® market ready to adapt users’ product, administration and operational procedures to meet FoFA requirements.

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AEGON
Case Study
28 Aug 2012

AEGON UK, part of the AEGON Group which is one of the world’s largest listed life and pensions companies, offers pensions, life insurance, asset management and financial advice to around 2 million customers in the United Kingdom (UK) and has assets under administration of £57.6 billion.

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Penson Financial Services Ltd STARS in their eyes
Case Study
31 Jul 2009

When Penson Financial Services Limited (PFSL) selected Syn~, the clearing and settlement solution of a relatively small software vendor, Coexis, in 2005, “some people thought we were mad”, says Alan Philpot, CEO of PFSL. It was, he believes, among the riskier of the options PFSL was considering at the time, but it appears to have reaped the benefits since.

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