Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
The largest vendors in the trader voice market are now in a similar position to IBM in the late 1990s: their solutions are proprietary, expensive to maintain, and lacking true open integration …
BNP Paribas Corporate and Institutional Banking (CIB) has announced that it has appointed Rudi Collin as Head of Digital Transformation for CIB. Previously Collin was head of Electronic Business and Markets for the Global Markets business and prior to this, was chief operating officer for the fixed income division of the bank. In his new role, […]
Market operator Nasdaq has seen revenues from its technology sales increase, with its Technology Solutions division, which makes up 27% of total net revenues reach $146 million in the fourth quarter of 2015, up from $4 million from the fourth quarter of 2014. The exchange’s Market Technology unit, which accounts for 13% of total net revenues, […]
Global investment and private bank, UBS, has signed an agreement to expand its use of the AppDynamics Application Intelligence Platform across its critical applications to supports its digital transformation initiatives. “Using AppDynamics we have been able to improve the speed at which we identified and remediated application issues, as well as avoid incidents in the […]
Financial software provider GATElab, part of London Stock Exchange Group (LSEG), has launched an ultra-low-latency service risk gateway to the National Stock Exchange of India (NSE). The solution is designed to enables users to send orders to the NSE equity derivatives segment in less than 30 microseconds, if all the pre-trade risk checks are met. […]
In a new whitepaper, the US post-trade infrastructure provider Depository Trust and Clearing Corporation (DTCC), has voiced its belief that the financial services industry “has a once-in-a-generation opportunity to reimagine and modernise its infrastructure” by employing blockchain in a coordinated manner. Blockchain is the transaction model used to transfer ownership of crypto-currency bitcoin. It was developed […]
Cognitive computing specialist CustomerMatrix, a co-founder of forum Cognitive Computing Consortium, has closed US$10.5 million in Series-B funding. The investment, one in a series of investments in artificial intelligence-like technologies in 2016, was led by HSBC, with participation from Aster Capital, and existing investors Newfund and True Global Ventures. CustomerMatrix, which offers a predictive engine called […]
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.
On 12 January new EU regulations on securities financing will take effect. Local regulators including France’s AMF have warned financial institutions to be ready for the new rules, which require greater transparency.
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. […]
There is an uncanny similarity between Prime Minster David Cameron’s emphasis of moving from a “low wage, high tax, high welfare society to a higher wage, lower tax, and lower welfare society” and a shifting focus among the asset management community.
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.
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.
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.
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 …
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.
A new online market for buying and selling financial research has gone live in Europe. Focused on providing buy-side firms with more transparency, the new RSRCHXexchange is based in the cloud and is aimed at helping institutions comply with MiFID II research unbundling requirements.
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.
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.
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.
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.
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.
ICAP has become the first UK institution to implement a range of enterprise data governance systems from Oracle, replacing a legacy process involving manual spreadsheet maintenance and frequent e-mail exchanges.
Post-trade market infrastructure the Depository Trust & Clearing Corporation has launched a new centralised data provisioning service, DTCC Data Products and expanded its exchange traded funds and ISO 20022 corporate actions data offerings.
BBVA Group has entered a multi-year agreement with Broadridge Financial Solutions) for a post-trade managed service to support its institutional fixed income business in the US. Under the agreement, Broadridge will provide an integrated managed service to support fixed income and repurchase agreement processing, international clearance and settlement and investor communications services
The funds industry has successfully implemented the requirements of the Alternative Investment Fund Managers Directive over the past year but has doubts about the use of data being gathered by regulators and question whether it is helping regulators to better spot threats and systemic risks that may impact market stability.
