Small financial institutions must face the mobile challenge

As contactless and mobile payment methods continue to grow, building societies and other financial institutions need to avoid being complacent about new technology, according to senior delegates speaking at the BSA annual conference in Manchester this week.

The value of SEPA beyond the SEPA-zone

The work corporates are doing to streamline cash management processes should not end with SEPA implementation, says. Indeed, the principles and ideas underpinning SEPA can inform progress even in the most challenging markets.

Swift Innotribe Startup Challenge names European finalists

Swift’s Innotribe Startup Challenge has named the five European finalists for its annual competition, which seeks to find the best new companies in financial services and bring them to compete in the final at Sibos Boston in October.

The looming spectre of a Financial Transaction Tax

The introduction of a financial transaction tax could mean London losing a swathe of banking business to financial centres with a lighter regulatory regime, such as Hong Kong or Singapore not to mention the logistical and technical challenges for banks.

Barclays takes Harte from Commonwealth

In one of the highest-profile tech hire in recent years, Barclays has poached Commonwealth Bank’s Michael Harte as chief operations and technology officer, filling the gap left by the surprise departure of Shaygan Kheradpir last autumn.

Johannesburg Exchange revamps clearing and derivatives trading

South Africa’s Johannesburg Stock Exchange has begun a massive overhaul of its clearing and trading systems, which will see its siloed clearing platforms replaced by a single engine from vendor Cinnober and its derivatives market shifted onto the London Stock Exchange’s MilleniumExchange platform.

If T2S is the answer, what’s the question?

The purpose of the European Central Bank’s T2S project is ill-defined and taking so long to deliver that it is being pushed aside by other projects according to speakers at the Swift Business Forum in London.

Trade reporting uncertainty raises “multiple problems”

Nearly three months after the European Commission’s 12 February deadline for trade reporting, market participants are still not ready to report their derivative trades and serious problems remain with understanding the rules.

DTCC pushes move to T+2 settlement for US markets

US clearing body the Depository Trust & Clearing Corporation is pushing a move to shorten the settlement cycle for the US markets to T+2, claiming support from industry bodies and firms including JP Morgan.

UK account switching service gathers momentum

More than half a million UK consumers have switched their current accounts since September, according to new figures released by the UK Payments Council. The figures have been described as positive, but market observers remain cautious over whether or not they can be sustained and whether the UK authorities are doing enough to promote innovation.

Market pressures force tech rethink on reconciliation

Global regulatory pressure and the shift to real-time processing are causing banks and major financial institutions to rethink how they handle reconciliation, according to a new report by financial research house Aite.

ICAP connects with Perseus for Brazilian HFT service

Broker ICAP will use high-frequency trading infrastructure from specialist Perseus Telecom as it seeks to expand its coverage across Brazil and Latin America. ICAP is already active in the region, where it connects to São Paulo and Mexico City. The Perseus LiquidPath service provides connectivity, hosting, consulting, and real time monitoring, and includes HFT services […]

Flash Boys ‘star’ Ronan Ryan says market better off without HFT

One of the central characters featured in Michael Lewis’ controversial book Flash Boys, has added fuel to the fire of debate over high frequency trading by claiming that in a market with less HFT, average order sizes would get larger and long-term investors would benefit.

Algo tagging: where’s the logic in that?

When the requirement brought about by the German high frequency trading act to tag algorithms comes into force this month, market participants may well feel hamstrung by the complexity of the regime – and some might wonder whether this requirement goes one step too far …

Firms still struggling with SEFs for swaps trading says IPC survey

Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]