Bloomberg Vault has introduced File Analytics, a hybrid cloud-based service that enables firms to “identify, categorise, track and manage” unstructured data held in corporate files and documents.
The explosion of data in the securities and capital markets industry – more than 30% CAGR – is rapidly becoming a problem for market participants and managing that challenge will require a disciplined approach to the development of new data architectures.
One company grateful for the flurry of publicity given to the practice of front-running orders by the publication of Michael Lewis’s book Flash Boys earlier this year is New York-based Trillium, whose Surveyor market manipulation detection tool can be used to detect the practice.
In April, US post-trade utility the DTCC called for the US settlement cycle to be moved to T+2, to bring it into line with what’s happening in the rest of the world, which is converging on T+2 settlement cycles – at different speeds.
Tullett Prebon has launched an aggregated swap data repositories data feed for the interest rate swaps market, aiming to increase price transparency in accordance with the Dodd-Frank Act.
Combining development and operational deployment of software into a more integrated cycle can greatly improve time to market and improve efficiencies giving “10 times faster software driven innovation”, delegates at the annual SifmaTech trading systems conference and exhibition in New York were told.
Despite promises of change heralded by the European Commission’s upcoming MiFID II, the cost of market data in Europe is still far too high and transparency remains a serious problem, according to senior financial industry executives. Yet the arrival of the Market Model Typology standard earlier this year may provide a catalyst for change.
The outsourcing of middle and back office functions by banks and brokers is now the norm, with nearly all firms outsourcing at least part of their functions to specialist providers such as custodian banks.
As the European Parliament adopted MiFID II/MiFIR on 15 April, the financial services industry was left wondering what exactly the new transparency regime is going to mean. Despite a curiously low EC estimate of compliance costs, at between €512 and €732 million, it is clear that MiFID II will have a large impact on the tens of thousands of firms and counterparties that will now fall under its scope.
The Euro Banking Association has published results of research and assessment work on supply chain finance topics and alternative electronic payments, including recommendations on managing financial industry collaboration and partnerships.
A major new effort spearheaded by the Bank of England and the UK Treasury has been launched to shore up the cyber defences of the UK financial services industry, amid rising concerns that testing has exposed serious unaddressed weaknesses.
Turkish bank Yapi Kredi has partnered with mobile money specialist Monitise to develop branchless banking’ services in which the consumer can open an account and carry out all their transactions without the need for physical locations.
Banks are paying lip-service to the concept of customer service and are years behind on innovation – and unless they literally get their act together by collaboratively embracing open software libraries and sharing applications and data, they will not survive.
With the US markets heading in the same direction as Europe and elsewhere, the world is converging on T+2 settlement, albeit at different speeds.
Reporting on the management of intraday liquidity risk will start on a monthly basis from 1 January 2015 to coincide with the implementation of the liquidity coverage ratio reporting requirements. Christian Goerlach of Deutsche Bank, takes a closer look at some of the issues facing global banks.
An question that continues to be asked is will the increased adoption of ISO 20022 facilitate the consolidation of payments clearing utilities and see the introduction of new services for customers? This suggests that despite the fact that ISO 20022 has been around for more than decade, confusion still exists over what it is.
Despite falling costs, banks are continuing to charge “unjustifiable” fees that rip off retailers and consumers as they move away from cash towards debit cards and other forms of payment, according to the British Retail Consortium’s Payments Survey for 2013.
Collateral management as it is currently known will no longer exist within a few years as increased regulatory demands, rising levels of automation and growth of industry tools to optimise collateral transform the industry, according to a new survey and report by Sapient Global Markets.
Kazakhstan’s Eurasian Bank has launched a mobile banking service which offers basic mobile banking features to Kazakh, Russian and English=speaking customers.
As Russia’s revitalised Moscow Exchange begins to command increased attention from global investment banks and hedge funds, a new direct market access service says it can unlock trading features that may not previously have been available to many international investors.
Across the financial services sector, the question is now less about where cloud technology is being used, and more about where it isn’t used. Where do financial institutions draw the line when it comes to deciding whether to keep a process or IT-related service in-house or outsource it to specialists such as Amazon Web Services, SAP and many others?
The speed at which the mobile market evolves is staggering. Just as we started to look at mobile first, where banks need to align their services and strategies to cater for mobile before desktop or other traditional channels, the notion of mobile-only is now creeping to the fore.
Online investment bank Saxo Bank has opened an office in Abu Dhabi to target demand for sophisticated financial services from the increasingly wealthy population of the United Arab Emirates.
Sourcing the right collateral to cover global exposures has risen up the list of priorities for financial institutions in Asia in the past 12 months as concerns mount over a possible collateral shortfall, according to a poll conducted by the Singapore Exchange and Clearstream at the Global Securities Financing Conference Asia 2014 in Singapore.
Given that bank customers are unlikely to increase significantly their usage of ATMs and now that opportunities to deploy large numbers of additional dispensers are limited, what does the future hold for the ATM and where does its next phase of growth lie?
Looked at from a data perspective, many new regulations have overlapping requirements that come back to customer data. Banking Technology joined forces with Markit | Genpact KYC Services and regulatory specialist JWG and recently conducted a survey to look at how firms are approaching the challenges this poses, the survey proved hugely popular with over 200 responses.
Lucera Financial Infrastructures has launched LumeFX, a technology platform that aims to help market participants increase their chances of finding a fill by using a smart order router to find FX liquidity.
In a post-2008 crisis landscape dominated by regulatory reform, compliance is only part of the issue. If firms can address how they manage multiple data sets and deploy a truly enterprise-wide model, they can capitalise on the real opportunity – achieving a competitive advantage.
Emirates NBD has launched a tablet banking service, which it says makes it the first bank in the Middle East to offer tablet-based financial planning. Launched for the bank’s priority banking relationship managers and wealth management advisors, the new apps allow them to access customer information using their tablets.
ICAP has launched a swap execution facility in the UK, as part of a push to dominate both the European and the US OTC derivatives markets as they are brought under new regulation.
For the banking sector, which by definition at least is as much economic activity as it is social utility, the relevance of gamification is no longer debatable. Yet recent research shows that just 9% of banks globally have made forays into gamification
Thailand’s Tisco Bank has chosen a new core banking system from US vendor FIS, which it says will help it to provide more real time services to customers. FIS Profile, the core banking solution, is already used by five of the 13 largest banks in Thailand. Florida-based FIS says it will provide the platform as […]
The capital markets industry continues to be amongst the top data driven industries. Electronic trading generates millions of market messages during a given day. With diminishing returns in high-frequency trading, focus has shifted from high-speed trading to looking for patterns in large volumes of market data for financial information and use cases.
BIAN – the Bank Industry Architecture Network – has made further progress in its efforts to promote banking system standards internationally with the US First Niagara Bank and Computer Sciences Corporation and Japan’s Nomura joining as members.
This event is the only one high profile summit talking about supply china finance in China. With the scheme of “Seeking the Balance with Supply Chain Finance”, we will deeply discuss the topics like Supply Chain Finance Market Outlook and Trends for China;Collaboration in Supply Chain Finance;Products Innovation and Risk Control; Collaboration model of the whole supply chain;clearing&settlement etc.
Core banking system replacement projects are notoriously difficult and disaster-prone, but successful legacy migration and systems modernisation can be shown to improve profitability, at least for smaller banks.
Swedish regional bank Swedbank is planning to roll out new ATM applications for 206 branches across the Baltic countries of Estonia, Latvia and Lithuania. The company will also upgrade more than 150 of its ATMs as part of a new multi-channel banking strategy.
Regulators want banks to modernise their IT systems to remove risk, but despite evidence that this will also improve profitability, few are making the leap.
Three African financial services start-ups have signed to use a cloud-based core banking platform from Berlin-based Mambu as their launch platform business.
HSBC has installed free Wi-Fi in 650 of its UK branches, bringing the bank into line with Barclays, which introduced free Wi-Fi in February 2013. Both banks signed deals with BT to provide the connectivity, which is managed by BT as a white label service.
