Calypso Technology, a provider of treasury and capital markets (TCM) software, and Sernova Financial, a turnkey post-trade services provider, have partnered to deliver cloud-based clearing services. Sernova Financial will use the Calypso platform, which “recreates the shared infrastructure and service elements of a traditional clearing broker”. Charles Marston, executive chairman of Calypso, says: “As capital […]
Global Post Trade Management (GPTM) is a combination of Broadridge’s existing systems and products plus some new components. GPTM has already been adopted by “a major investment bank”, the vendor says. Although the solution is marketed as a new, “next generation” offering, its underlying technology comprises the existing products of Broadridge. “GPTM incorporates Broadridge’s core […]
Inter-American Development Bank (IDB) is looking for a new back office system, Banking Technology understands. The bank is a long-standing customer of Misys. It has been using its Opics treasury and capital markets (TCM) system for many years, and in 2014 it also signed for Summit, another back office system from Misys’ portfolio of TCM […]
KBZ Stirling Coleman (KBZSC) and AYA Trust go live with TCS Bancs, and Bank for Investment and Development of Vietnam (BIDV) looks for a hardware provider for its new subsidiary in Myanmar. KBZSC and AYA Trust TCS Financial Solutions has completed the deployment of its TCS Bancs system to support securities trading and settlement at […]
Tradition, the interdealer brooking arm of Compagnie Financière Tradition, is poised to launch a new EU-regulated multilateral trading facility (MTF) for collateral and secured deposits. Dubbed Elixium, it will open for business in May this year. “Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace,” says Tradition. […]
Hargreaves Lansdown, a financial service company based in Bristol, UK, has gone live with Calastone’s funds settlement system, Calastone Settlements. Danny Cox, head of communications at Hargreaves Lansdown comments that “automatic matching of trades and the netting of settlement positions early in the day will improve the efficiency of our operational and treasury teams”. He […]
Nasdaq has launched Nasdaq Validator to provide quality assurance (QA) for exchanges, clearing houses and central securities depositories (CSDs). Nasdaq Validator is an API-independent testing platform offering manual and automated test tools for the capital markets industry. It interfaces with Nasdaq’s matching, clearing and CSD systems, in addition to systems by other providers. It is […]
The second wave of the European Central Bank’s (ECB) migration plan for Target2-Securities (T2S) transactions has been completed. T2S is the delayed centralised European platform for the settlement of domestic and cross-border securities, and is one of the largest infrastructure projects launched by the ECB. Wave 2 included Portugal’s central securities depository (CSD) Interbolsa, a […]
Calypso Technology, a provider of treasury and capital markets (TCM) software, is to be acquired by European private equity fund Bridgepoint and global growth equity investor Summit Partners. Pascal Xatart, president of Calypso, says the deal means the “arrival of a new investor base” which will support its “growth ambitions”. The vendor has been owned […]
So here is a major headache for the treasury and capital markets industry: the cost line remains dead flat but the revenue line has dropped off the cliff. Utility is the answer to the market woes, strongly believes Philippe Chambadal, CEO of SmartStream Technologies. He talks to Tanya Andreasyan about SmartStream’s initiative in this space. […]
The Depository Trust & Clearing Corporation (DTCC) and Digital Asset Holdings have teamed up to develop and test a distributed ledger (blockchain) solution for repurchase agreement (repo) clearing. Blockchain will be used to manage the clearing and settlement of US treasury, agency, and agency mortgage-backed repo transactions. Mike Bodson, president and CEO of DTCC, says: […]
Portugal’s central securities depository Interbolsa, a subsidiary of Euronext Lisbon, has completed its migration to Target2-Securities (T2S). Although delayed, T2S is one of the largest infrastructure projects launched by the European Central Bank. T2S provides a centralised European platform for the settlement of domestic and cross-border securities transactions. Through T2S, Interbolsa allows for core, neutral […]
GMEX Group has partnered with Hanoi-based FPT Information System to launch the first derivatives market and “fully integrated” clearing house in Vietnam. The target go-live date is Q4 2016. Both companies will provide the technology, while the Ministry of Finance (MOF) has entrusted the Hanoi Stock Exchange (HNX) and the Vietnam Securities Depository (VSD) to […]
Banking Technology is conducting a survey – short and sweet – to find out the banks’ priorities when it comes to treasury software and solutions. How can technology help treasurers cope with the multitude of regulation, business transformation and industry demands? The treasury function plays a pivotal role within a bank, and with great power […]
Nasdaq has bought International Securities Exchange (ISE), operator of three US equity options exchanges, and ISE’s holding company US Exchange Holdings, from Deutsche Börse for $1.1 billion. The agreement excludes ownership interest in Bats Global Market and in Digital Asset Holdings, which will continue to be owned by Deutsche Börse. Carsten Kengeter, CEO of Deutsche […]
Make a note, 5th September 2017 has been unveiled as the industry target for the US to move from a T+3 to a T+2 settlement cycle. The decision on this has been reached by the US T+2 Industry Steering Committee (T+2 ISC), organised by The Depository Trust and Clearing Corporation (DTCC) and co-chaired by the […]
Nasdaq will replace Australian Securities Exchange’s (ASX) existing equities and equity options clearing technology platforms. ASX says it wants to consolidate its number of post-trade platforms and this latest deal forms a “significant element” of its tech revamp programme outlined in February 2015. Tim Thurman, CIO at ASX, says: “While we have announced that ASX […]
Sweden’s Baymarkets has taken over the support, maintenance and development of SIX x-clear’s Clara clearing system. Baymarkets says the addition of Clara to its product set will “complement” its integrated Edge platform, and creates a complete end-to-end solution. The Swedish company adds that the current team, who were developing and maintaining Clara to date, will […]
Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform. JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC). JPX […]
Torstone Technology, a post-trade securities and derivatives processor, has further expanded in Asia with new appointments and the launch of a standalone reporting module in Japan. The company says “in the coming months” Gordon Russell will start his tenure as head of sales and business development for Asia, based in Singapore. This follows previous and […]
Spain’s Bolsas y Mercados Españoles (BME) has bought securities information provider Infobolsa from Deutsche Börse for €8.2 million in cash. The agreement also includes the acquisition of Infobolsa’s wholly-owned subsidiaries: Difubolsa (Serviços de Difusão e Informação de Bolsa) and Infobolsa Deutschland. Consequently, BME, through Infobolsa, will also become the owner of Open Finance, another Spanish […]
HSBC in Germany will use Swift’s Value Added Network (VAN) solution to connect to Target2-Securities (T2S). VAN Solution enables T2S participants to connect to the new pan-European securities settlement platform for the exchange of business information in ISO 20022. Other banks and central securities depositories (CSD) that have signed with Swift for T2S connectivity include […]
In its latest report “Breaking Down Buy Side Barriers: Achieving Alpha through Agility,” analyst firm TABB Group has found that investment managers are struggling to cope with trade life cycle errors as a consequence of technology failure. Support for all asset classes and security types, multiple currency transactions, geographical locations and asset allocation strategies is […]
Financial technology consultancy Capco has found that cost pressure will drive the uptake of the utility model in finance. In its latest report, ‘What Makes Utilities Useful,’ it surveyed senior banking executives’ attitudes towards adoption of a utilities-style approach. With responses from 102 financial services professionals across 69 financial institutions in 26 countries, they found […]
ITRS, the analytics and real-time monitoring technology provider, has announced plans to integrate its Geneos platform with the trading and risk management platform of eBroker Systems to provide a series of performance metrics for users. The agreement will see Geneos monitor both eBroker’s deployed and hosted trading platform. eBroker Systems operate in the Greater China […]
Trading platform provider Fidessa has reported a growth in revenue in 2015 up 7%, rising to £295.5 million up from £275 million in 2014, despite the reduction and closure of many sell-side trading operations over the last 12 months. The firm notes that the closure of the Jefferies Group’s Bache futures unit and Standard Chartered […]
The Irish Stock Exchange (ISE) has renewed its strategic technology partnership with Deutsche Börse and extended its use of the Deutsche Börse trading infrastructure and related services. The new contract runs for 6 years until the end of 2021. Deutsche Börse has provided the Xetra platform to the Irish Stock Exchange since June 2000. Several […]
Goldman Sachs has launched a new FICC Systematic Market Making (SMM) unit. SMM will consolidate its e-trading assets and capabilities across FICC. The move was reported in an internal memo as reflecting changes in market structure and client needs. The memo, signed by several executives including group chief information officer Martin Chavez, says, “Our ability to […]
The European Securities and Markets Authority (ESMA) has published its 2016 supervisory priorities for credit rating agencies (CRAs) and trade repositories (TRs). The regulatory authority reports seeing a number of changes in the CRA and TR industries during 2015, with new applicants for registration in both sectors, and current authorised entities seeking to develop their […]
There’s one challenge that regulators seem unable to address, and that is regulation itself. Today’s evolving regulatory environment seems to be beset by a range of internal contradictions. One such contradiction is the banks’ decision to act as clearing providers for derivatives businesses.
Investment manager AllianceBernstein is working with Interactive Data, to help evaluate its trade execution quality and perform transaction cost analysis (TCA). The work will be done across various mutual funds and separately managed portfolios using Interactive Data’s Best Execution (Best Ex) service. The service leverages its Continuous Evaluated Fixed-Income Pricing to run TCA for fixed-income […]
The largest vendors in the trader voice market are now in a similar position to IBM in the late 1990s: their solutions are proprietary, expensive to maintain, and lacking true open integration …
Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]
Global investment and private bank, UBS, has signed an agreement to expand its use of the AppDynamics Application Intelligence Platform across its critical applications to supports its digital transformation initiatives. “Using AppDynamics we have been able to improve the speed at which we identified and remediated application issues, as well as avoid incidents in the […]
In a new whitepaper, the US post-trade infrastructure provider Depository Trust and Clearing Corporation (DTCC), has voiced its belief that the financial services industry “has a once-in-a-generation opportunity to reimagine and modernise its infrastructure” by employing blockchain in a coordinated manner. Blockchain is the transaction model used to transfer ownership of crypto-currency bitcoin. It was developed […]
Americana Community Bank (ACB) is working with RAI Stone Group, the provider of the RAI Stone Analytics platform to supports its small-to-medium business (SMB) teams, which focus on organisations employing between one and 100 people. “Using this service is adding significant, measurable return-on-investment (ROI) that might have happened over time, sure. But we didn’t see […]
Cognitive computing specialist CustomerMatrix, a co-founder of forum Cognitive Computing Consortium, has closed US$10.5 million in Series-B funding. The investment, one in a series of investments in artificial intelligence-like technologies in 2016, was led by HSBC, with participation from Aster Capital, and existing investors Newfund and True Global Ventures. CustomerMatrix, which offers a predictive engine called […]
The value of dark equity trading jumped last year despite pending European regulations which will limit a fund manager’s ability to trade shares away from stock exchanges, according to research from equities broker ITG.
2015 has been a year of extensive discussion about what role blockchain can play in making processes in the financial services industry more efficient. It has also been a year where both banks and start-ups have been testing whether distributed ledger technology can adequately replace costly legacy systems and improve securities processing, writes Brian Collings. […]
Financial information provider Markit and foreign exchange settlement service CLS have launched a new service for the cross currency swaps market.
