London-based fintech firm EquiChain has unveiled a working prototype blockchain platform for capital markets. The company plans to implement a full end-to-end “execution to custody” (E2C) pilot in 2017, as it jumps on the distributed ledger technology (DLT) bandwagon Nicholas Bone, EquiChain’s founder and CEO says it “creates a verifiable, transparent and immutable flow of […]
Five European central securities depositories (CSDs) have migrated their respective communities to live operations on the Target2-Securities (T2S) platform using Swift’s value added network (VAN) solution. OeKB CSD (Austria), Clearstream Banking (Germany), LuxCSD (Luxembourg), Centrálny depozitár cenných papierov SR (CDCP) (Slovakia) and KDD – Centralna klirinško depotna družba (Slovenia) all migrated over. These five quickly […]
Pakistan-based Askari Bank has gone live with Autosoft’s Islamic treasury management system, Adams Islamic, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The bank can manage its Islamic treasury operations using Adams Islamic as well as process funds transfers between banks using AutoRTGS. Adams Islamic is also integrated with the bank’s […]
US-based brokerage services provider Convergex has implemented Ancoa’s market surveillance platform to monitor all trading activity across its domestic and international cash equities and options businesses. It also monitors trading activity of “all lit and dark venues” including Millennium, Convergex’s proprietary applicant tracking system (ATS). The cloud-based deployment is running on Amazon Web Services (AWS), […]
Clearstream Banking Frankfurt and LuxCSD have migrated to the European Central Bank’s (ECB) Target2-Securities (T2S) platform. “The first business day is already in process and runs smoothly,” Clearstream states.
The Depository Trust and Clearing Corporation (DTCC) has agreed to sell its Clarient Global and Avox businesses to Thomson Reuters.
Mirae Asset Securities, a subsidiary of Asia’s Mirae Asset Financial Group, has selected FIS as its technology partner to launch prime brokerage, global securities lending, repo, delta one and correspondent clearing businesses in the US.
United Nations, together with 19 banks and investors worldwide, have launched “a global framework aimed at channelling the money they manage towards clean, low carbon and inclusive projects”. The framework – The Principles for Positive Impact Finance – is a first of its kind set of criteria for investments to be considered sustainable, says the UN.
The Wall Street Blockchain Alliance (WSBA), a US-based non-profit trade organisation, has set up a new working group – the Blockchain Assets Working Group (BAWG). It will focus on “native assets riding upon public blockchains, such as Bitcoin, Ethereum, Zcash, and more”, WSBA explains.
Commonwealth Bank of Australia (CBA) has issued a cryptobond for Queensland Treasury Corporation (QTC) using its capital markets blockchain platform. CBA says it is “the first blockchain bond issuance by a government entity both in Australia and in the world”.
The British Columbia Securities Commission (BCSC) wants to serve the fintech firms in the state better.
Financial Industry Regulatory Authority (Finra), a non-governmental organisation that regulates member brokerage firms and exchange markets in the US, has published an extensive report, evaluating the implications of blockchain for the securities industry.
Accenture and operations benchmarking consultancy firm McLagan evaluate the applications of distributed ledger technology (DLT) in investment banking operations in the “Banking on Blockchain” report.
AxiomSL, a regulatory reporting and risk management software vendor, has added financial services firm Raymond James to its customer list.
Aperio Group, $16 billion investment manager in California, has selected investment management software from Linedata.
BNP Paribas Securities Services has teamed up with Calypso Technology to bring to market “a full, end-to-end post-trade services offering across asset classes” for investment banks.
A three-way alliance of legal firms is helping Europeans call out financial wrongdoing and benefit from US whistleblower laws. New York-based Meissner & Associates is collaborating with Stuttgart/Berlin-based Naegele and London-based Brahams Dutt Badrick French (BDBF) to create the new transatlantic initiative, the “first of its kind”. The plan is to help employees, suppliers and […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
The Depository Trust & Clearing Corporation (DTCC) has chosen IBM, in partnership with Axoni and R3, to provide a blockchain/distributed ledger technology (DLT) framework to drive improvements in derivatives post-trade lifecycle events. The firms will work on DTCC’s Trade Information Warehouse (TIW), building a derivatives distributed ledger solution for post-trade processing. The TIW service currently […]
Central securities depositary Euroclear and blockchain firm Paxos have completed the first pilot for Euroclear Bankchain, a new blockchain settlement service for London bullion due to go live in 2017. Over 600 OTC test bullion trades were settled on the Euroclear Bankchain platform over the course of the two-week pilot. Angus Scott, director, product strategy […]
ICAP, a UK-based financial services firm, is jumping on the bandwagon and getting ready to process foreign exchange (FX) trades on blockchain, according to the Financial Times. As Banking Technology reported earlier this year, ICAP’s post trade risk and information division completed a proof of technology test case for blockchain – so its interest is […]
With so much fintech funding activity going on, we’ve summarised the latest fundraising efforts of start-ups. Featuring Lunar Way, FXCH and Polychain Capital.
BNY Mellon’s treasury services business has created a global innovation group and appointed Christopher Mager to lead it.
Société Générale is partnering with Smartkarma, a curated online platform, for investment insight focused on the Asian markets. Under this global agreement, Société Générale will provide its institutional clients access to a “new form” of equity research based on “demand driven and customised content”. Société Générale says it is the first global investment bank to […]
Treasury professionals are finally adopting mobile cash management, says Melissa Zajac, vice-president and senior product manager, Key Total Treasury, KeyBank’s corporate online channel. Slowly but steadily. So what are the best practices?
Treasury and capital markets (TCM) vendor Calypso has implemented its collateral management system at Alberta Investment Management Corporation (AIMco). It has also joined forces with the R3 blockchain consortium to build TCM applications on R3’s Corda distributed ledger technology platform.
Barclays has unveiled a new online direct investing service to let its customers view their investments, savings and current accounts in one place through a single log-in. The bank says it has introduced a new fee structure, which is “free from hidden charges”. There is one fee and one transaction charge – and common charges […]
Macif Group is revamping its investment administration and accounting tech, and has selected NeoXam to assist with the project. It will help implement the new software and will also host it.
ISITC Europe, a voluntary, non-profit organisation promoting operational efficiency, harmonisation and education in the capital markets space, will turn 25 years old on 26th January 2017.
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
London-based blockchain firm SETL and Cobalt DL, a private peer-to-peer network, have teamed up to use SETL’s OpenCSD within the Cobalt FX post trade platform. The service is set to launch in 2017, with 15 institutional FX participants “already committed” to the service. Earlier this year, SETL unveiled the OpenCSD platform, its first commercial offering, […]
R3 and twelve of its blockchain consortium member banks have trialled Ripple’s Digital Asset XRP for interbank cross-border payments. Using XRP, Ripple says it can enable near real-time value exchange anywhere in the world, providing “liquidity on demand and reducing associated costs”. David Rutter, CEO of R3, says the prototype “paves the way for a […]
Citi Treasury and Trade Solutions has launched electronic document submission (eSubmit) for account opening. The service is available in “select” Western European countries and allows clients to complete the account opening process by returning electronic versions of documentation rather than paper. Sabine McIntosh, global head of account services product, Citi Treasury and Trade Solutions, says […]
BNP Paribas has selected Fidessa’s derivatives trading platform to underpin the bank’s futures and options agency trading business. The platform will support the workflow requirements across Europe, Asia-Pacific and North America. It will also provide BNP Paribas with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading […]
DZ Bank’s group treasury division has implemented its collateral management operations with the help of Sapient Global Markets. DZ Bank, Germany’s third largest bank by asset size, worked with Sapient to “optimise and automate the collateral allocation process”. This project began with a proof of concept, using anonymised production data, to create a system assessment […]
Blockchain has the potential to greatly benefit the entire capital markets ecosystem. But the industry should learn to walk – when it comes this emerging technology – before it can run.
Citi is to offer direct custody and clearing (DCC) services to clients in Denmark from the fourth quarter of this year. The new offering will expand Citi’s proprietary DCC network to 63 markets globally and 36 markets across Emea. Citi will partner with VP Securities, a provider of securities and investor services in Denmark. VP […]
The European Central Bank has outlined its plans to consolidate the Target2 and Target2Securities (T2S) platforms, introduce a new European-wide instant payments platform by November 2017 and develop a new collateral management system. The Eurosystem’s “Vision 2020” plans were outlined by Yves Mersch, a member of the executive board at the ECB, at Sibos 2016.
Italy’s TAS Group and targit GmbH Austria have signed a deal to collaborate on bringing a Software-as-a-Service (SaaS) model for liquidity risk management and reporting within reach of tier two and three banks throughout Central and Eastern Europe, including Austria and Germany.
Read our first Daily News at Sibos edition of the Sibos 2016 conference in Geneva – all the latest news and analysis from Swift’s premier event of the year.
