The European Parliament has approved MiFID II, bringing to a close the political debate over the future of Europe’s trading infrastructure and ushering in a period of focus on finer technical details. The final vote will reflect a much more sensible approach than many had feared, according to Anne Plested, head of regulation change at trading technology specialist Fidessa.
Personal budgeting is an effective method for consumers to build a strong and stable financial future. Yet, for many, staying on budget is a constant struggle.
China’s Hong Kong and Shanghai stock exchanges are poised to build a major new link that will open up mainland China’s capital markets to foreign investors and vice versa.
FTC calls for data security legislation to address recent increase of data security breaches.
A new Canadian bill proposes regulations on virtual currencies, cross-border MSBs, due diligence requirements, politically exposed persons and group-wide information sharing.
Facebook is putting the pieces in place to launch a money transfer service in Europe.
The Illinois House last week approved legislation that, if signed into law, might affect companies’ payroll card programs, beginning Jan. 1, 2015, when the new rules would take effect.
Payments processor Heartland Payment Systems has acquired MCS Software, a provider of school foodservice payment solutions at 4,000 K-12 schools across the U.S.
Banking Group Santander has added m-commerce to its mobile banking and payment app, in a development it is claiming as the world’s first ‘superwallet’.
Nadia Dombrowski has joined the payments practice at Davis Wright Tremaine LLP as a partner in the firm’s New York office.
Payments industry consulting firm Double Diamond Group LLC has hired Rick Oglesby as senior research analyst and consultant of the recently launched Double Diamond Payments Research, a research division focusing on merchant acceptance trends and analysis.
eBay Inc. has announced the appointment of David Dorman as an independent director to the company’s board of directors.
First Data Corp., an Atlanta-based payments processor, has appointed Michael Manos as chief technology officer, responsible for First Data’s global technology infrastructure.
Heartland Payment Systems, a Princeton, N.J.-based merchant processor, has hired Samir Zabaneh as chief financial officer.
JetPay Payment Services, a division of JetPay Corp., has appointed Nancy Ann Barnhart chief information officer.
Optimal Payments, a London-based online payments and risk management provider, announced that President and CEO Joel Leonoff was named CEO of the year at the U.K. Stock Market Awards 2014 last month.
R&P Group, a Sioux Falls, S.D.-based payments industry recruiting firm, announced that Corbin Simon has earned the Top Producer Award (first quarter 2014) for the Sioux Falls area, from the U.S. Recruiting Network.
More than half a million UK consumers have switched their current accounts since September, according to new figures released by the UK Payments Council. The figures have been described as positive, but market observers remain cautious over whether or not they can be sustained and whether the UK authorities are doing enough to promote innovation.
Global regulatory pressure and the shift to real-time processing are causing banks and major financial institutions to rethink how they handle reconciliation, according to a new report by financial research house Aite.
Broker ICAP will use high-frequency trading infrastructure from specialist Perseus Telecom as it seeks to expand its coverage across Brazil and Latin America. ICAP is already active in the region, where it connects to São Paulo and Mexico City. The Perseus LiquidPath service provides connectivity, hosting, consulting, and real time monitoring, and includes HFT services […]
Swift’s Innotribe innovation spin-out has named the European semi-finalists for its 2014 Startup Challenge, which seeks to find the most innovative start-up companies in financial services.
eBay Inc. investor Carl Icahn has backed off his proposal for the online auction Website to spin off its PayPal subsidiary following discussions with eBay, of which he is a 2 percent owner.
FIS wants to help banks in the pursuit of the coveted millennial consumer by focusing heavily on mobile banking.
Contactless payments are spreading rapidly throughout Europe, according to new data from MasterCard.
Despite a somewhat bumpy rollout and several course-corrections, Google Wallet is here to stay, said the head of the tech giant’s payment division.
The European Commission’s MiFID II legislation has produced a disappointing outcome for those hoping for a consolidated tape of post-trade data, while exchanges continue to bear the brunt of participants’ anger over the price of market data.
More federal regulations may be on the way for digital currencies after U.S. Attorney General Eric Holder told lawmakers of his concerns about Bitcoin and other digital currencies as potential tools for criminals.
Prepaid card sales at retail are on the rise, driven by the combined efforts of prepaid providers, processors, networks and merchants, according to a new report by Aite Group.
M&A activity is on the rise in the payments industry, and the latest deal is in the card manufacturing and fulfillment space.
One of the central characters featured in Michael Lewis’ controversial book Flash Boys, has added fuel to the fire of debate over high frequency trading by claiming that in a market with less HFT, average order sizes would get larger and long-term investors would benefit.
New EU regulations on market making and dark pools could be damaging investor choice and forcing participants to make decisions that are not in their best interests.
Trading firms are still struggling with the Dodd-Frank requirement for certain swaps to be traded on registered Swap Execution Facilities. According to a survey conducted by trading communications vendor IPC Systems, 60% of survey respondents said the industry as a whole was behind on meeting the deadlines on SEF trading, though only 39% said their […]
Europe doesn’t need more trading venues – instead, it needs more innovation, more fairness, more competition and better enforcement, according to panellists speaking at the Trade Tech conference in Paris.
Standards consortium BIAN has released a new version of its industry standard framework containing more than 180 business scenarios including back-office, trade finance and sales.
As tax day approaches, the Louisiana House of Representatives yesterday approved a bill that would end the state’s Department of Revenue practice of automatically sending tax refunds on prepaid debit cards to taxpayers who don’t select a specific method for receiving their funds.
Virtual payment cards continue to gain ground in the B2B sector, with Bank of America Merrill Lynch announcing its ePayables electronic accounts payables platform has surpassed 100,000 enrolled corporate suppliers—nearly doubling from 56,000 enrolled suppliers two years ago.
Payments providers of every stripe are seeking ways to increase customer loyalty. Austria-based paysafecard, which offers one-time use e-vouchers, now is rewarding customers who opt to use its online payments account, my paysafecard.
Often lost amid the regulatory and legal controversy surrounding Bitcoin and other digital payments is a somewhat more practical issue; it’s just hard to spend the stuff in the real, offline world.
Despite the high profile media scandals surrounding the demise of the Mt Gox exchange and the Silk Road trading website, Bitcoin is evolving rapidly and will soon present a better, more stable and accountable alternative to the fiat currencies most of us trust and use every day, according to Mark Lamb, chief executive of London-based Bitcoin exchange Coinfloor.
Despite the deep controversy created by Michael Lewis’ expose of HFT Flash Boys, global equity markets are not broken, according to a senior capital markets panel at Trade Tech Paris 2014.
