The participants are BNP Paribas Securities Services, Caisse des Dépôts, Euroclear, Euronext, S2iEM, Société Générale and Paris Europlace. They have signed a memorandum of understanding (MoU) to study and develop a post-trade blockchain infrastructure for SMEs in Europe. The agreement is open to other interested parties. The aim is “to improve SME’s access to capital […]
Crestone, a wealth management business created out of UBS Wealth Management Australia, is now open for business, underpinned by Avaloq’s flagship core banking system. Avaloq Banking Suite supports front-to-back office operations of Crestone, multi-asset and multi-currency. Peter Scott, the vendor’s GM for Asia Pacific, says that Crestone was among the first users to apply Avaloq Banking […]
Asset management firm Robeco has released its findings and views on the much-discussed subject of blockchain. The overall theme is to be sensible, study the facts and not fall for the hype when it comes to this emerging technology. The report, “Distributed ledger technology for the financial industry. Blockchain administration 3.0”, has been created by […]
India-based uTrade Solutions has launched uClear, a blockchain tech solution for real-time clearing and settlement for financial markets. The first taker is Global Markets Exchange (GMEX) Group. It will integrate uClear next month through its GMEX Technologies subsidiary and with the support of its development partner, Forum Trading Solutions. Hirander Misra, CEO of GMEX Group […]
Standard Chartered has compiled a report questioning whether blockchain could disrupt the European Central Bank’s (ECB) Target2Securities (T2S) project. T2S aims to standardise European cross-border trade settlement by integrating securities and cash accounts onto a single IT platform. Not only blockchain could play a material role in this project, some analysts suggest, but it could […]
Broadridge Financial Solutions has taken over fellow vendor 4sight Financial Software, a provider of securities finance and collateral management systems to financial institutions worldwide. Terms of the deal were not disclosed. Quayle Munro Limited acted as 4sight’s financial advisor in this transaction. UK-based 4sight was founded in 2003 and grew to acquire a client base […]
Two former Merrill Lynch directors, Paul Richards and Giles Hutson, have unveiled a new fintech venture, Insignis Asset Management. Insignis, a cash management company, is set “to revolutionise how clients manage their cash deposits”, the founders say. The Insignis Digital Banking Network will enable clients to deposit cash, starting from £100,000, into a hub account, […]
Banco Original, a pure-play digital bank in Brazil has gone live with a new treasury management system, OpenLink’s Findur. The vendor says the implementation was completed in ten months. Findur is the bank’s new cross-asset and treasury solution, integrated with internet banking and handling a range of financial products such as bank certificate of deposit […]
Torstone Technology says an unnamed Myanmar-based broker has started using Inferno, its post-trade securities and derivatives processing system. Inferno will process the broker’s post-trade flow of its equities execution business. The system covers the “whole” trade life-cycle from trade capture through to settlement, accounting and reconciliation. Brian Collings, CEO of Torstone Technology, says Asia is […]
LCH is the first central counterparty clearing house (CCP) to sign up to Swift’s ISO 20022 Harmonisation Charter. The charter is designed to help rollout the ISO 20022 messaging standard and “promote harmonisation”. LCH, which is majority-owned by the London Stock Exchange, is one of 17 financial market infrastructure providers to have “endorsed” the charter, […]
The European Central Bank (ECB) has officially launched a procurement tender for a new treasury management system (TMS). The ECB’s current TMS platform is Wallstreet Suite, supplied by Wall Street Systems (now part of Ion Trading). The bank has been using it for many years, Banking Technology understands. According to the ECB, its TMS supports […]
Sri Lanka-based Amãna Bank has gone live with new treasury and asset management software, supplied by Path Solutions. The new products, iMAL Islamic Treasury and iMAL AssetManagement, replaced a legacy treasury and equity management platform at Amãna. Banking Technology understands that this was Sungard’s Ambit Treasury Management. The new software interfaces to Swift and supports […]
Credit Suisse has opted for FIS’s Derivatives Utility for its post-trade futures and cleared over-the-counter (OTC) derivatives operations and technology. The utility provides customers with derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation and data management. John Dabbs, global head of prime derivatives services, Credit Suisse, says […]
Deloitte is pioneering an integration project combining Ripple’s protocol and Temenos’ core banking software for direct bank-to-bank settlements in real time. Deloitte says the overall objective of the Ripple integration is to enable financial institutions to send payments, either in local or foreign currency, in real time without relying on intermediary banking relationships. Ripple offers […]
Saudi Arabian Monetary Agency (SAMA), Saudi Arabia’s central bank, is modernising its technology with a range of new solutions from SAP and Calypso. The bank is working SAP to automate the ERP and BI functionality (with SAP’s Business Objects), and is also interested in Bank Analyzer for financial reporting, indicates the vendor. SAP is now […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Android Pay now in the UK; Australia and Singapore are next Coming to a country near you… possibly. Vietnam’s Tien Phong Bank stops attempted fraud through Swift system Stop! In the name of the law. Sydney Stock Exchange […]
Sydney Stock Exchange (SSX, formerly Asia Pacific Stock Exchange) is building a settlement system based on the distributed ledger technology. Specialist consultancy firm Bit Trade Labs is assisting with the project. To begin with, the new blockchain system will be used to settle trades in private companies, but SSX hopes that once the regulator grants […]
UK-based investment company Standard Life and ING’s Australian subsidiary are working with IBM on a range of digital and data management initiatives. Standard Life: it’s personal Standard Life is personalising its financial services capabilities “to each of its 3.8 million UK customers”, IBM states. Using IBM’s analytics tools Standard Life “can accurately track a person’s […]
IDBI Capital, a subsidiary of India-based IDBI Bank, has gone live on a new securities trading and processing system, Bancs. The system is supplied by TCS Financial Solutions. Bancs supports online brokerage operations at IDBI Capital. It provides front-to-back office functionality and replaced IDBI Capital’s multiple trading and trade processing platforms. According to TCS, IDBI […]
UBS Wealth Management Americas (WMA) and tech company SigFig has formed a “strategic alliance” to develop digital technology for UBS WMA, its financial advisors and their clients. San Francisco-based SigFig specialises in wealth management software. It will create and customise digital tools and services for UBS WMA’s 7,000 advisors. UBS WMA’s remit is domestic US and […]
The treasury function plays a pivotal role within a bank, and with great power comes great responsibility… and the need for automation. Misys and Banking Technology conducted a survey to find out about the changing role of the banks’ treasury and the degree of support received from current systems. How can technology help treasurers cope […]
Banking Technology and Misys conducted a survey to find out about the changing role of the banks’ treasury and the degree of support received from current systems. The results are in our infographics – great contents that is easy on the eye and easy to digest.
The Depository Trust & Clearing Corporation (DTCC) and the Korea Exchange (KRX), the securities exchange operator in South Korea, have signed a memorandum of understanding (MoU) to co-operate with each other on a trade repository solution in South Korea. Under this deal, both organisations will explore linking DTCC’s global trade repository (GTR) solution directly to […]
The world of the banks’ treasury is changing. Treasurers are getting more involved with corporate governance, risk management and regulatory reporting. In this webinar, we will discuss the latest results of a survey run by Banking Technology with more than 100 treasurers earlier this year and discuss the implications of these results with treasurers, other […]
Banque de France and Banco de España are running late with their implementation of a new treasury and capital markets (TCM) system, Banking Technology understands. The two banks jointly opted for a new solution in 2013/14. It is understood that Calypso was chosen to replace a host of legacy technology, including Wallstreet Suite from Wall […]
First Global Trust Bank (FGTB) is a new name on the UK banking scene. The bank has recently been granted an “authorisation with restriction” licence to take deposits by the Prudential Regulation Authority (PRA). The London-based company was originally set up under the name of Llamabrook in 2011. It became FGTB in March this year […]
Federal Bank in India is looking to replace its legacy treasury system, supplied by Intellect Design Arena. It issued a request for proposal (RFP) for procurement and migration of treasury management. The bank currently runs its treasury operations from its Mumbai office, and is active in domestic, FX and derivative sectors. Since 2009, these have […]
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 […]
Pakistan-based Bank of Punjab (BOP) has extended its partnership with local software vendor Autosoft Dynamics. Autosoft will implement its new real-time gross settlement (RTGS) system, AutoRTGS, at the bank and will also extend the coverage of the Adams treasury system to support Islamic banking. BOP is already a user of Adams for conventional banking operations. […]
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 […]
The Reserve Bank of New Zealand (RBNZ), the nation’s central bank, has chosen Italian payments company SIA to implement and support a new real-time gross settlement (RTGS) system. The new system will replace the current exchange settlement account system (ESAS). It will be delivered by SIA’s subsidiary Perago, based in South Africa. Perago is a […]
Switzerland’s new real-time gross settlement (RTGS) system, SIC (SIX Interbank Clearing), is now live – opening the way for ISO 20022 usage. The new RTGS platform, SIC4, was introduced with the euroSIC system on 16 April 2015. The new SIC system went live on 14 April. With SIC up and running, migration to the new […]
Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions. Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution. Oki Matsumoto, CEO of Monex, says the new platform “will enable us to further improve our […]
