If 2015 was all about how the financial sector continued its post 2008 crisis transformation, 2016 looks set to promise even more developments in the same vein across the EMEA region. The ongoing change continues to be remarkable in its depth and scope impacting financial institutions and technology firms like Wolters Kluwer Financial Services who exist to enable banks and others to navigate risk and regulatory complexity
Buy-side block trading venue Liquidnet has released a set of EMEA trading algorithms, which it says will help market participants to find liquidity ahead of the European Commission’s upcoming MiFID II legislation, which introduces important changes for dark pools.
The European Union’s initiative to create a Capital Markets Union in Europe is currently stuck in a quagmire of political debate. That shouldn’t discourage politicians and regulators from taking the necessary steps as soon as possible, according to a new report by the International Capital Markets Association.
An “Implementation Playbook” detailing the timeline, milestones and dependencies involved in migrating the US equities, fixed income and unit trust markets to a two-day settlement cycle has been published by the T+2 Industry Steering Committee.
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.
Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.
It is a well-known fact that banks have two types of technology: Cold War-era IBM mainframes running Cobol-based batch programmes and Evil Genius HFT systems. The mundane truth is that any financial services operation will have a range of hardware and software systems of different vintages and spend a lot of time and money living with the consequences.
The Singapore Exchange is to launch FX block futures on ICAP’s FX platform EBS Market, in a deal the two companies say will bridge the FX OTC and futures markets. The move comes as regulators around the world seek to move as much trading activity towards cleared platforms as possible, as part of the ongoing G20 reform agenda.
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.
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.
More transparency is urgently needed to restore trust in the FX industry, according to a new report by foreign exchange MTF LMAX Exchange – but to make that happen, the industry will have to collaborate.
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.
SETL, the institutional payment and settlement infrastructure based on blockchain technology, claims to have which has broken the 1 billion transactions-per-day capacity barrier for blockchain movements in a test network.
Major financial market infrastructures (FMIs) and central banks have thrown their weight behind a Swift initiative to prevent further fragmentation of the ISO 20022 messaging standard as its adoption grows by signing a charter backing principles to harmonise implementations.
Cyber attacks cost little to perpetrate, but plenty to prevent. A focus on external and internal factors will help financial institutions to mitigate the threat.
T2S, Europe’s harmonised settlement platform, is live. With a series of migration waves scheduled up until full live operation in July 2017, the next few years are likely to be characterised by intense activity as market participants finalise their strategies …
Deutsche Bank’s Research unit is launching a new set of proprietary foreign exchange positioning indices based on data from its Autobahn FX trading platform. Called Corax – Categorised ORderflow from Autobahn FX – the indices will be published every Wednesday in the Corax Positioning Report.
With global investment into the fintech arena growing at an astonishing rate, it is only a matter of time before the corporate sector begins to feel its true force. Fred DiCocco, head of market management, BNY Mellon Treasury Services, discusses how banks are adapting. Fintech is triggering a monumental shift in the payments space, with […]
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.
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.
Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.
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.
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.
The International Securities Services Association adopted a set of compliance principles to address the “critical challenges” posed by financial crime. The new principles aim to establish “a clear global standard for the opening and maintenance of cross-border securities accounts”.
BNY Mellon expects to have its SunGard InvestOne system back to normal today following testing over the weekend and the US Labor Day holiday and have caught up on the generation of net asset values for clients.
Global capital markets specialist, Hatstand, has launched a cyber-security risk assessment service that will enable businesses to better understand the current state of their preparedness against the risk of cyber-attacks and identify any shortfalls in their existing governance programmes.
Electronic trading specialist Orc has launched a high speed connection to Borsa İstanbul. which brought all the Turkish capital markets exchanges under one roof in 2013. “Turkey is becoming an increasingly attractive market, with a steady rise in trading activity and demand from the region,” said Orc.
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.
Nomura’s equities execution unit, Instinet Europe, is to offer cash management and payment services to purchasers of its investment research products following authorisation from the UK’s Financial Conduct Authority to operate as a payment institution.
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.
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.
Thomson Reuters has added foreign exchange trading capabilities for corporate treasurers to its financial markets desktop Thomson Reuters Eikon, linking it to FXall QuickTrade, a request for stream service.
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.
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.
