European securities regulator ESMA has published a discussion paper asking for public feedback on the technical standards that should be used for CSDs, including registration, settlement discipline, confirmation rules, acceptance or rejection of terms, as well as access to CSDs by other CSDs and market participants.
The number of central clearing counterparties is likely to rise in the near future as new entrants put Latin America, Africa and Australia on the map for OTC derivatives clearing, but with more regulatory intervention expected and unpredictable customer flows, the new venues face an uncertain future
Mobility has risen to such a level of importance that many people believe it deserves its own C-level position to advance and align mobility strategy throughout the enterprise. In no other industry is this more pressing than in banking where financial institutions are increasingly using mobile apps to set themselves apart from their rivals.
Fixed income is a bit like the tortoise of Aesop’s fables, while equities is unquestionably the rambunctious hare. While equities finished the race towards an agency trading model many years ago, fixed income is just plodding onto the starting lines now. But a little outsourcing may provide the rocket boost the industry needs to push ahead, according to Carl James, managing director of dealing services UK at BNP Paribas.
IT spending in financial markets is on the rise and is set to reach $100 billion in capital markets, corporate banking and asset management by 2018, according to new research by analyst firm Ovum.
A new financial services innovation centre in Indonesia is aiming to capitalise on rising levels of mobile penetration and interest from banks and other financial services providers in new technologies and business opportunities in the country.
Broadridge Financial Solutions has formed an alliance with UK software developer Lombard Risk Management under which Lombard’s collateral management system will be integrated into Broadridge’s applications and infrastructure services.
Post-trade services institutions Clearstream, BNP Paribas Securities Services, Intesa Sanpaolo and BBVA have formed a tie-up in Europe, which they say is aimed at better asset servicing n Belgium, France, the Netherlands, Italy and Spain under the ECB’s forthcoming T2S project.
Regulatory change in the OTC derivatives market has produced serious problems that indicate a clear need for more automation of cleared derivatives post-trade processing, according to a new report published by research house Greenwich Associates.
The Bank of England has become the first central bank to go live with an implementation of the Market Infrastructure Resiliency Service contingency system it has been piloting with Swift over the past few years.
The mobile payments system planned by the UK Payments Council will be branded Paym. The Council says that it will announce the go-live date next month and final testing is on track.
BNY Mellon says a global overhaul of its payments infrastructure will position it for “a new era” in payments and fundamentally change its relationship with customers and other financial institutions internationally.
Political turbulence in the Ukraine, Russia and Turkey this year produced disagreement between senior financial industry executives at a FIX Trading Community conference in London yesterday, with some arguing that politics should not be allowed to detract from the longer-term rise of non-western economies and others arguing the opposite.
BNP Paribas Securities Services has launched a reporting tool for investment banks, which it says will help them cope with tough new financial regulations by better monitoring their intraday liquidity.
ABN Amro Clearing has launched a new global trading platform for equities and futures which it says can route clients between Asia, Europe and the US using a single FIX connection.
TSB is increasing the size of its ATM estate by more than 10% as it works to transform its retail banking network in the wake of its de-merger from Lloyds Banking Group last year.
A new post-trade monitoring system will allow French broker Newedge to better manage its risk exposure from its Asian direct market access platform.
At the end of last year, Yahoo was hit by a malware attack. It affected over two million clients, mainly in Romania, Great Britain, France, Italy and Spain, putting their personal data at risk. Upon visiting the website between 27 December and 3 January, users received advertisements, some of which were malicious and infected users’ devices without even a click.
The UK’s Clearing House Automated Payments System turned 30 earlier this year. It wasn’t an anniversary marked with street parties by a grateful nation, but in its quiet way it was a significant moment, for – in common with the whole payments infrastructure – the system is going through a period of change. Phil Kenworthy, […]
US broker BGC Partners and UAE government-run free zone the Dubai Multi Commodity Centre have done a deal to promote Islamic ‘Murabaha’ products, as part of a drive to turn Dubai into an Islamic finance hub. The DMCC has a trade platform called DMCC Tradeflow, which operates in the Jumeirah Lakes Towers Free Zone. A […]
Switzerland’s SIX Group will move to T+2 settlement starting on 6 October 2014, bringing Switzerland into line with the UK, France, Germany, the Netherlands and Russia.
Mobile payment isn’t about reinventing the wheel – it’s about making merchants and customers’ lives better by establishing a relationship built on knowledge and trust, according to mobile payments platform Znap.
A group of major international banks have agreed to jointly develop and use the centralised Know Your Customer Registry announced by Swift at the start of the year.
Ken Harvey, the erstwhile HSBC group chief technology and services officer and group chief information officer, is to become chairman of CLS Group Holdings and CLS Bank International, succeeding Gerard Hartsink who will retire in October.
Bitcoin, gamification and Personal Financial Management are “generating more heat than light” in debates about the future of retail banking and banks should not be distracted from other major challenges including digital channels and legacy transformation.
While established banks struggle with their legacy systems, smaller players and new entrants are quickly adopting new technologies and reaping the benefits.
The Japan Securities Clearing Corporation has gone live on a new system for client clearing of Japanese yen-denominated interest rate swaps and collateral management.
Poland’s Getin Bank has implemented biometric signature verification in a roll-out of unstaffed remote branches using Virtual Teller Machines under its Getin Point brand. The technology allows customers to carry out banking tasks that require a signature without having to go to a traditional branch.
Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.
After many years of struggle, Mexicans may be about to snatch the crown of Latin America’s most promising financial services market from their Portuguese-speaking cousins in Brazil.
The Prudential Regulatory Authority has set out a series of requirements for non-EU banks who want to do business in the UK.
In addition to the regulatory system changes, what would the technological and infrastructure challenges of such a ruling be?
Swift has announced the availability of a cloud-based application designed to eases the client onboarding process between financial institutions and their clients. First outlined at the Sibos 2012 event in Osaka, the MyStandards Readiness Portal, is backed by some big names in the business – HSBC, Citi and Clearstream spoke at a Standards Forum session […]
MasterCard has partnered with mobile technology specialist Syniverse under an audacious plan that aims at nothing less than “bringing mobile financial services to every single mobile user on the planet”.
What do taxis, the weather, mobile wallets and raincoats have in common? They are all potential variables in determining a person’s daily spend – and they provide a great opportunity for banks to use data to save customers money, according to Aman Narain, global head of digital banking Singapore at Standard Chartered.
Spain’s CaixaBank has developed an application for Google Glass, the futuristic and controversial new technology that is set to bring augmented reality to the masses when it launches later this year.
The deadline for trade reporting mandated by the European Market Infrastructure Regulation is 12 February, and many institutions are working hard to meet it. In this webinar, Banking Technology and the DTCC will be discussing how the industry managed the transition and what challenges remain.
Denmark’s Saxo Bank has introduced futures spread trading onto its online trading and investment platform for retail and institutional clients, in a move the bank says will give investors access to a low-volatility trading style.
As data volumes continue to grow, being able to make greater use of the information enhances competitive advantage. The financial services industry is taking steps towards using predictive analytics technology to do just that.
Ten years ago business-to-business payment options were pretty limited: cheques dominated, and organisations only had the option of 3-day BACS payments or expensive CHAPS transactions for high value, same day payments.
Industry standards organisation the FIX Trading Community has published its guidelines for transaction cost analysis in equities, which it says will help to create a better market by clearing up the competing methodologies and definitions that are currently in use.
