US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.
The finance sector has been plagued with bad press over the past five years, with little respite for those in the industry, but despite the issues faced by the sector, 59% of IT jobseekers would still consider entering the industry, writes Richard Nott, website director at CWJobs.co.uk.
Swift, the Brussels-based financial messaging consortium has appointed Juliette Kennel to the newly-created post of head of market infrastructures. Kennel, formerly head of standards, will be responsible for bringing together Swift’s activities in this area. Swift’s relationships with other market infrastructures is a focus for Gottfried Leibbrandt, who took over as chief executive last summer, […]
Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.
Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.
JP Morgan has begun rollout of its new multi-asset class trading platform, JP Morgan Markets, which the firm says will make it easier for clients to bring together different elements such as research and analytics and convert them into successful trades.
ATM maker Diebold has developed an ATM that lets customers withdraw cash without using a card – and saves the bank money in the process.
BNY Mellon is planning to open a new issuer central securities depository that it claims will offer market participants more efficient post-trade services.
Financial technology company SunGard has acquired XcitekSolutionsPlus, a company that provides corporate actions tools, in a move aimed at capitalising on the increasing automation of the sector.
The recent market data glitch on US consolidated tape C, in which investors were unable to view Nasdaq-listed stocks, highlights the need for regulation on resilience, according to Frederic Ponzo, managing partner at capital markets consultancy GreySpark Partners.
Thomson Reuters has launched a tool to help financial institutions comply with the US Foreign Account Tax Compliance Act, widely known as FATCA, which requires banks to identify their US customers for tax purposes.
As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.
New regulations that will affect how banks run crossing networks for their buy-side clients should avoid constraining investor choice by forcing a ‘one-size-fits-all’ approach to trading, according to Miranda Mizen, senior consultant at TABB Group.
Ernst & Young has developed new software designed to catch employees engaged in corporate wrongdoing, as Swiss bank Wegelin and Co prepares to cease operations following the firm’s prosecution for helping US citizens evade taxes.
Bursa Malaysia has introduced a new market surveillance system for equities and derivatives from Sri Lanka-based IT company MillenniumIT.
UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.
Global investment banks need to stop focusing on easy opportunities and start innovating, according to a new report by US business consultancy AlixPartners – even if that means unbundling services and embracing smaller financial institutions as allies.
Data users wanting to use Reuters Instrument Codes to access data carried on consolidated data feeds from other information providers will be able to do so following the resolution of a European Commission investigation into whether Thomson Reuters was abusing its monopoly position.
Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.
Further clarification on the European Union’s Alternative Investment Fund Managers’ Directive, due to come into force in July next year, has been welcomed by the Alternative Investment Management Association, the global hedge fund association.
Brokers are being forced to consider novel approaches to doing business – including outsourcing of areas that have been previously seen as core – as they struggle to work out viable economic models for their products and services.
Swiss market operator SIX is to expand its post-trade infrastructure in Scandinavia with the acquisition of Oslo Clearing, a subsidiary of the Oslo Børs, for NOK180 million (£19.8 million).
The unit is authorised to act as a central counterparty in Norway and currently clears derivatives and securities lending products. It will become will be part of SIX Securities Services.
New Year, New Job? With gloomy predictions and swingeing cuts at big firms, what do employment prospects look like in 2013? Also in this issue: Bloomberg’s Stanley Young on broadening its enterprise offerings. ART for art’s sake: Assess, Rationalise and Transform is the motto for risk management The Year Ahead: a round-up of views on what the year ahead […]
Like Apple under Steve Jobs, Bloomberg has a long-held reputation for being a ‘closed’ sort of company, reluctant to compromise its products or its ways of working.
Asset managers should take five simple steps to counter the effect of rising collateral requirements for OTC derivatives, according to a joint study by BNY Mellon and Rule Financial.
The European Parliament has voted to approve the introduction of a financial transaction tax across 11 EU member states including France, Germany and Italy – but market participants warn that it may have unintended consequences.
The Singapore Exchange has stepped up its efforts to connect to international market participants, with a deal between itself and German derivatives exchange Eurex that will allow traders in Europe to access the Singapore market more easily.
Financial institutions are still not using social media to its full potential and are missing out as a result, according to a new report by German IT firm GFT.
Market participants trying to clear OTC derivatives under new European trading rules will soon be able to use a service from CSD Euroclear and clearinghouse CME Clearing Europe that promises to make the job easier.
Global investment bank Jefferies has chosen a cash management solution from software firm TwoFour Systems for its UK and US-based Jefferies Bache Treasury business, to help it keep better track of its business processes.
BNP Paribas Securities Services is planning to offer a post-trade service for banks and brokers that want to take advantage of the new cross-trade deal between the London Stock Exchange and the Singapore Exchange.
At a gala event in London this week, industry luminaries gathered for an evening of entertainment and excitement as the winners of the 2012 Banking Technology Awards and Readers’ Choice Awards were announced. Comedian Simon Evans (left) kept the audience on the edge of their seats with an acerbic and hilarious routine before being joined on stage […]
Despite delays and arguments over migration, the European Central Bank’s T2S project to improve Europe’s post-trade infrastructure is now back on track, according to senior industry participants.
Europe’s businesses are unprepared for the arrival of the Single Euro Payments Area in February 2014, with many completely unaware of its consequences, according to new research by IT business services provider Steria.
Once considered too difficult and unreliable to be viable, video banking can now help banks increase engagement with the retail customer while cutting costs, according to Gene Pranger, chief executive and founder at uGenius, a provider of personal transaction technologies.
Explore how you can turn challenges into opportunities across five major use cases in consumer lending.
