Celent sees strong global growth in bank IT spending
Global IT spending by banks will grow 4.4% to $188.0 billion this year, and will continue to do so for the next few years, according to research firm Celent.
BankingTech
Barclays customer data debacle raises difficult questions
Revelations that Barclays customer data was being sold on the black market to corrupt City traders have caused the bank some embarrassment over the weekend– but the incident raises more questions than it answers, according to observers.
IND acquisition opens chink in competitors’ armour for Misys
The acquisition of digital banking specialist IND Group will give Misys access to parts of its rivals’ customer base that it intends to exploit as it develops its offerings in the digital banking channel, while the closer integration of the IND capabilities will also shore up Misys’ defences against encroachment of its own ageing user base.
Known Unknowns: preparing for SEF-traded FX options
The Dodd-Frank Act launched the acronym SEF into the alphabet soup of modern capital markets, After three years of repeated discussions, consultations, submissions and furious wrangling, Swap Execution Facilities finally come into operation this week.
Bangkok Bank invests in mobile banking and payments
Thailand’s Bangkok Bank has installed a new mobile banking and payments platform built by technology company Fiserv, which it says will give customers better security and the bank a stronger presence on mobile devices.
February 2014 SEPA: a two-way stretch
A nominal six-month delay in the need to migrate to SEPA-compatible formats hasn’t slowed down the rush to convert clients
Futures algos come of age
Long-only institutional investors are increasingly turning towards advanced futures trading strategies that have previously been the preserve of hedge funds and proprietary trading shops, according to a new report published by Tabb Group and Fidessa.
Estimating Libor damage past – automating index surveillance future
In the wake of scandals involving manipulation of market indices, can statistical learning theory be used to detect and fix anomalies in Libor and other market indices?
Omani Bank Muscat automates investments with Charles River tools
Oman’s Bank Muscat has installed tech firm Charles River’s investment management solution for its asset management business in the Arabian country, which covers equity and fixed income.
Instinet algo will ‘Make’ large orders viable
Broker Instinet has released Make, a new algorithm which it says will help traders to shift large orders more cautiously without disturbing the market.
Final countdown to EMIR underway
A week before the final reporting deadline for the European Commission’s EMIR regulation, tech firms are making a last push to get OTC trade reporting up and running.
Citi extends securities lending platform to Russia
Citi has begun lending services in Russian securities through its OpenLend platform, which the bank says will help investors to diversify into promising emerging markets.
Bloomberg adds Onetick CEP engine to Professional service
Bloomberg’s execution management system has begun using a complex event processing engine from tick data and analytics specialist OneMarketData to support its intra-day trading analytics.
Keeping tabs on trading costs: TCA comes to FX and fixed income
Transaction cost analysis has become a staple feature of equities trading since 2007’s watershed piece of European legislation MiFID. But that’s just the beginning of a journey that is increasingly coming to transform the way FX and fixed income asset classes are traded, according to Michael Sparkes, director of analytical products and research at broker ITG.
FIX adopts Market Model Typology as post-trade reporting standard
The Market Model Typology post-trade reporting standard has been adopted as a standard by the FIX Trading Community and is now available for adoption by all market participants, bringing the possibility of a European consolidated post-trade tape a step closer.
Russia 2.0 – major overhaul will attract international investors
As Moscow modernises its corporate governance, legal institutions and financial infrastructure, new possibilities are opening up to foreign investors, says Tim Bevan, executive board member at BCS.
UK banks lag in online personal financial management provision
UK retail banks lag their international peers in helping their online customers make better financial decisions, according to new research published this week.
Faysal Bank Pakistan moves former RBS business to SunGard core
Pakistan’s Faysal Bank has shifted the bank branches it bought from RBS in 2010 onto its SunGard core banking system, as part of a major push to integrate the business.
ISDA begins radical overhaul of ISDAFIX swap rates
The International Swaps and Derivatives Association has set a date for the first stage of sweeping changes to the ISDAFIX benchmark for annual swap rates, as part of a major global push to clean up rates and make them more accountable.
Türkiye Finans rolls out remote management to 145 branches
Turkish bank Türkiye Finans Katılım Bankası is collaborating with US infrastructure company Opengear to roll out remote management technology for its bank branch network, which it says will help to cut costs and improve efficiency.
ITRS adds Murex capability to monitoring system
Trading system monitoring specialist ITRS Group has added a module to its Geneos system for the Murex cross-asset trading and risk management platform.
Indian post office plans banking expansion
India’s state-run post office the Department of Posts is planning to launch core banking services in the Indian capital city Delhi, as part of a major drive to become a banking services provider in the country.
Euronext and Markit target ETF opportunities
January has been a good month for ETFs, with the launch of two new products aimed at making it safer and cheaper to trade – and easier to get the information needed to make trading decisions.
Traiana connects four trade repositories as EMIR deadline approaches
Post-trade services company Traiana plans to connect to four trade repositories in preparation for the European Commission’s EMIR legislation, which requires trade reporting and clearing of OTC derivatives.
How many sides can you put on a coin?
There are two sides to every coin, but with Bitcoin those sides simply could not be farther apart. Its promise is extraordinary: for those afraid of inflation, it is gold redux, while for those who hate exchange rates, it is a way to pay internationally. For merchants it is a way of avoiding high transaction fees and for former Presidential hopeful Ron Paul, it is the destruction of the US Dollar.
Virtual currency Ven takes on Bitcoin
A digital currency called Ven is poised to give alternative currency poster child Bitcoin a run for its virtual money.
Russian bonds make debut at Euroclear Bank
Russia’s securities markets have taken another step forward with the decision by Euroclear Bank to launch post-trade services for Russian corporate and municipal bonds on 30 January, via its relationship with Russia’s newly established CSD the National Settlement Depository.
“Unbanked banks” suffer from tougher KYC rules
Senior transaction banking executives have called for a political discussion to resolve the issue of emerging market access to banking services caused by the reduction of the correspondent banking services network.
Better late than never: businesses should still sharpen up for SEPA
While many large organisations have already planned and delivered their SEPA compliance, smaller and mid-sized firms have woefully underprepared for the deadline. Banks and payment organisations need to be prepared for a certain amount of confusion and resistance from UK customers who may not understand the reasons for the change, and may be reluctant to put the necessary changes into effect.
Growth under threat from new Basel III, EMIR, Dodd-Frank regs
Regulation is driving a structural shift away from capital markets and investment banking towards transaction banking – but even this hint of opportunity could be under threat, according to senior financial services panellists speaking at the BAFT IFSA conference in London this week.
Getting personal: banks must brace for change
Major global banks need to grasp social networks, cloud computing, user-generated content, personalisation, contextual information and gamification if they are to maintain a competitive edge and stay connected with customers. But they also need to ensure their innovations are transmitted thoroughly to all employees, according to panellists at the BAFT IFSA conference in London on Monday.
ECB says February SEPA deadline can be met
The European Central Bank has released statistics that it says show that migration to the Single Euro Payments Area “gathered pace strongly” in December and urged market participants not to relax in their migration efforts. Earlier this month the European Commission announced a six-month extension past the 1 February deadline by which time all payments […]
Capital markets on a firmer footing for 2014
Following the tumultuous change that came in the wake of the subprime crisis, capital markets firms have yet to regain a strong foothold but 2014 is showing increasing evidence of a shift to a higher gear.
O2 discards unattractive wallet
UK operator O2 has revealed that its O2 Wallet service, which closed last week, was a casualty of the pace of development in the fast moving mobile payments space.
Derivatives reform chaos “stupid and self-inflicted”
Reforms to the way derivatives trade in the US and Europe are causing a conflict between consumer desire for bespoke solutions and regulatory attempts at standardisation – and the self-inflicted panic as the deadline approaches indicates the cost may be too high, according to a panel of senior capital markets representatives speaking at an event organised by the Futures and Options Association in London on Tuesday.
Swift targets EMIR compliance with trade reporting tools
Financial messaging cooperative Swift is looking to capitalise on the impending trade reporting deadline for EMIR, the European Commission’s new rulebook for derivatives, which comes into effect next month.
LSE reforms international order book as T+2 draws near
The London Stock Exchange has introduced a set of changes for its international order book, including a shift to T+2 settlement, a reduction in tick sizes and changed opening hours, ahead of upcoming EU regulations designed to harmonise settlement across Europe.
Generation Y leads UK towards mobile banking
Nearly two-thirds (64%) of UK current account holders would prefer to bank online or via a mobile app than via telephone or in-branch banking (29%), according to a recent survey by YouGov and business process specialist Genpact.
Pass Go, Do Not Go to Jail: EC backs down on SEPA deadline
The EC proposes that banks and payment services providers will not be penalised for continuing to process legacy payments during a six-month “transition period” after the February deadline for SEPA migration.
Belgian bank offers real-time tools to mobile users
Belgium’s Record Bank has introduced a new mobile banking platform that it says will help customers better manage their money in real time. The features of the new mobile banking service include SEPA payment abilities and the ability for customers to check the status, transaction history and details of their own account. Established in 2001, […]
