Either the distributed ledger is the greatest revolution in financial services for a generation, or it will make little difference to anything, according to the strongly divided opinions expressed by speakers at the Mondo Visione Exchange Forum in London last week.
Financial network BT Radianz has added Volante Technologies’ tools to the BT Radianz Cloud, in a move the two firms say will improve the reliability of clearing, settlement and payment transaction processing while cutting costs.
European exchange groups in London and Frankfurt have announced changes in their technology leadership, with the announcement of a new group chief information officer at the London Stock Exchange and a restructuring of responsibilities at Deutsche Börse.
A new stock exchange, Bolsa Institucional de Valores, is planning to launch in Mexico, creating competition for Latin America’s second largest stock market, the BMV. The exchange, currently waiting for final regulatory approval, will use Nasdaq’s X-stream trading platform.
The London Stock Exchange has signed a memorandum of understanding with JSC Kazakhstan Stock Exchange, the first ever between the two exchanges.
Deutsche Börse strengthened its links with mainland China this week with the establishment of a partnership with the Shanghai Stock Exchange and China Financial Futures Exchange to create new marketplace for the trading of renminbi-denominated offshore products under the new brand of the China Europe International Exchange.
Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]
Nasdaq’s first fruits from its enterprise-wide blockchain technology plan,the Linq share ownership platform, has attracted an initial group of users it was announced at the Money20/20 conference in Las Vegas this week.
Eight years on from the global financial crisis, and banks continue to face a growing number of challenges. Many have ceased or significantly reduced proprietary trading, with the resulting reduction in both risk and reward. This period has also seen lower risk appetite among many investors and continuing global competition which has put pressure on profit margins,
The London Stock Exchange Group is planning to launch a new interest rate derivatives venture called CurveGlobal, which initially aims to offer short term interest rate futures. Backed by several banks including Bank of America Merrill Lynch, Barclays, Citi, Goldman Sachs, JP Morgan and Société Générale, the new venture is part of the exchange’s long-held ambition to gain traction in the derivatives markets, which have historically been dominated by rivals in continental Europe.
Pushing more complex products towards mandatory central clearing may increase the risks to which CCPs and clearing members are exposed. Frances Faulds examines whether CCPs can continue pooling risks in a safe and efficient way
London Stock Exchange and The Depository Trust & Clearing are partnering to provide clients with a connection to the LSE’s UnaVista Approved Reporting Mechanism. The service will allow DTCC clients to comply with the Markets in Financial Instruments Regulation through their current connection from DTCC’s Global Trade Repository.
Closer links between the Shanghai Stock Exchange and UK and European exchanges may be on the cards. The London and Shanghai exchanges are exploring a scheme to link their markets. At the same time, European exchange group Euronext announced a deal with the Shanghai Stock Exchange to promote its listed members to Chinese investors.
Saxo Bank is to allow access to its multi-asset trading and back office infrastructure through a new open API that will allow developers and partners to integrate Saxo’s trading functionality into their own applications and systems.
The London Stock Exchange has sold its Proquote market data and retail trading services business to Australian financial technology specialist Iress, which is expanding its capital markets and funds operations in the UK.
The London Stock Exchange says that the launch of Turkish derivatives on its derivatives market represents part of the long-cherished goal of growing its derivatives business around the world. It also represents the exchange’s ‘open access’ policy.
The UK payment services market has been under the spotlight in recent months with the introduction of a new Payment Systems Regulator created with the intention, amongst other things, of opening up the industry to new and emerging payment service providers.
Russia’s central securities depository NSD has implemented back-to-back settlement technology for off-exchange delivery-versus-payment transactions with securities denominated in Russian rubles. The bank accounts and transactions may be in rubles, US dollar, Euro and Chinese yuan.
Post-trade processing company Bloomberg STP Solutions and post-trade and risk specialist Traiana have begun a joint effort to develop a straight-through processing infrastructure for FX options. The partners say it will help to reduce post-trade costs for market participants, which have typically remained higher than execution costs.
European stock exchange BATS Chi-X Europe has created a new order book for auctions, which it says will help traders to make larger trades. The new book is set to go live on 19 October, and represents an effort to satisfy long-term traders interested in larger order sizes.
Target2-Securities, the European Central Bank project to harmonise Europe’s post trade infrastructure, has finally gone live in Italy – three months after Italy’s last-minute decision to drop out of the first wave earlier this summer.
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions are seeking comment on proposals for harmonising the Unique Transaction Identifier used to be used for OTC derivatives trade reporting.
Stock markets in Nigeria, Kenya and South Africa are planning to launch cross-listed exchange traded funds later this year, as part of an initiative that aims to boost liquidity across Africa’s three largest markets.
Project Neptune, the fixed income trading initiative between a group of 42 large banks and asset managers, has gone live with its pilot production network, bringing the project closer to its ‘hard’ platform later this year.
LCH. Clearnet is to begin offering clearing clearing services for Spanish securities executed on BATS Chi-X, Turquoise and Traiana from Monday 7 September 2015, subject to regulatory approval. The new service, which introduces interoperability for the market segment will operate under the existing Title V settlement framework until the revised dates have been published by Iberclear […]
The European Commission has adopted new rules that make it mandatory for certain OTC interest rate derivative contracts to be cleared through central counterparties.
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
The London Stock Exchange Group has signed an agreement with Casablanca Stock Exchange to support the launch of LSEG’s business development programme, ELITE, in Morocco.
The London Stock Exchange has welcomed BOCI Securities as its first member from Hong Kong. BOCI Securities, a wholly owned subsidiary of BOC International Holdings, joins London Stock Exchange less than two months after regulatory approval was received from Hong Kong’s Securities and Futures Commission allowing Hong Kong firms to become members.
Regulations aimed at transparency across financial markets may be making things simpler for the regulators, but they are making life more complex for banks, according to Sven Ludwig, senior vice president, risk management and analytics EMEA, at SunGard.
South Africa’s Johannesburg Stock Exchange is moving its derivatives and fixed income markets onto Millennium Exchange, the trading platform it bought from the London Stock Exchange when it moved its equities market earlier this year.
A new venture plans to create a multi-asset, multi-currency institutional payment and settlements infrastructure based on blockchain technology. Called SETL, the venture is backed by Peter Randall, former chief executive at Chi-X, the multilateral trading facility that is now part of BATS, and Anthony Culligan, founder of peer-to-peer bitcoin trading site Roolo.
The Plato Partnership, a consortium of asset managers and broker-dealers working to build a non-profit equities trading utility in Europe, has chosen the London Stock Exchange’s Turquoise subsidiary as its preferred partner, and the two companies announced they are exploring a “commercial collaboration”.
Five years on from the Dodd-Frank Act being signed into law in the US, a number of outstanding issues for derivatives reform need to be resolved, according to a new paper by the International Swaps and Derivatives Association.
Technology is equipping non-bank market-makers to move into the US Treasury Market, giving them analytics and speed to manage and hedge risk, while enhancing market liquidity. “Market makers have been deploying electronic tools at varying degrees over the past decade,” says Anthony Perrotta, a principal and head of fixed income research at Tabb Group, author […]
Boat Services now supports the post trade publication of Russian OTC trading, by including stocks listed on the Moscow Exchange. The addition covers more than 300 Russian security instruments, including common and preferred stocks.
Post-trade market infrastructure the Depository Trust & Clearing Corporation has launched a new centralised data provisioning service, DTCC Data Products and expanded its exchange traded funds and ISO 20022 corporate actions data offerings.
BBVA Group has entered a multi-year agreement with Broadridge Financial Solutions) for a post-trade managed service to support its institutional fixed income business in the US. Under the agreement, Broadridge will provide an integrated managed service to support fixed income and repurchase agreement processing, international clearance and settlement and investor communications services
Target2-Securities, the European Central Bank project to harmonise Europe’s post trade infrastructure, has finally gone live after nine years of preparation. Italy’s Monte Titoli was not part of the first wave.
The London Stock Exchange has obtained approval for Hong Kong companies to become members. Previously, only companies from the European Economic Area and Israel could join.
