SunGard boosts corporate actions automation capability through acquisition of XSP
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.
“Fragile” US equity market structure needs attention
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 debuts FATCA compliance kit
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.
“Lobby wars” will hurt buy-side interests in Brussels says SunGard exec
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.
Regulators should protect investor choice in the dark – TABB Group
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.
Rogue trader terms identified as Switzerland’s oldest bank is forced to close
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 adopts MillenniumIT surveillance tools
Bursa Malaysia has introduced a new market surveillance system for equities and derivatives from Sri Lanka-based IT company MillenniumIT.
Celoxica debuts HFT futures trading tools
UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.
Unbundling tops banking reform recommendations
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.
EC acceptance of Thomson Reuters’ proposals on RIC re-use frees data users
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.
Man Group goes live with Swift’s global ETC messaging service
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.
Industry welcomes attempt to clarify alternative investment regulations
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 face grim prospects for 2013
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.
SIX expands Nordic post-trade with £20m purchase of Oslo Clearing
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
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 […]
On board the enterprise
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.
BNY Mellon and Rule counter OTC derivatives conundrum
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.
Europe “will regret” financial transaction tax warns expert
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.
Singapore Exchange reaches out to Germany
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.
Banks must do more to embrace social media says study
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.