Nasdaq OMX Treasuries dark pool will revitalise bond trading
Electronic fixed income trading, one of the last major asset classes traded by humans, could take a big step forward when a new Nasdaq OMX dark pool trading venue goes live next year.
News
Breaking News: MasterCard Sets New Payroll Card Standards Beginning in 2014 (Dec. 13, 2013)
Moving to improve and clarify payroll card industry practices, MasterCard today released new standards requiring all employers and payroll card providers involved in offering MasterCard-branded payroll cards to meet specific protocols for consumer choice and transparency
ICE reveals a design for Liffe
IntercontinentalExchange has revealed further details of its plans for Liffe, following its acquisition of NYSE Euronext in November.
Commerzbank connects to Regis-TR ahead of EMIR
Germany’s Commerzbank has just signed up to Regis-TR, the European trade repository owned by German CSD Clearstream and Spanish CSD Iberclear, as part of the bank’s drive to ready itself for the EMIR legislation on OTC derivatives reporting.
Global exchanges get together to address cyber threat
The World Federation of Exchanges has set up a Cyber Security Working Group with a “mission to aid in the protection of the global capital markets” in the wake of a number of attacks on international exchanges over the past few years.
California Law Bans Overdraft, Credit on Benefit Prepaid Cards (Dec. 12, 2013)
A new law in California will prohibit overdraft fees and extend other protections to recipients of state unemployment and government assistance who have their benefit funds deposited onto a prepaid card.
Cachet Financial, YellowPepper Provide RDC Service to Latin America (Dec. 12, 2013)
Cachet Financial Solutions, a Minneapolis-based provider of remote deposit capture (RDC) solutions, will be providing consumers in Latin America with RDC services for YEPEX, the mobile banking network of YellowPepper Mobile Financial Network.
CFSI, Core Study: Underserved Market Worth $89 billion in 2012 (Dec. 12, 2013)
The U.S. financially underserved market was worth $89 billion last year, according to a new study from the Center for Financial Services Innovation (CFSI).
PreCash’s Evolve Money Adds Card Funding Option; Gen Y Driving Mobile Bill Pay (Dec. 12, 2013)
PreCash is expanding its Evolve Money online and mobile bill pay app by enabling customers to pay bills using debit and prepaid cards, in addition to cash.
Square Adds Talent with Two Acquisitions; Streamlines Card Reader (Dec. 12, 2013)
Square Inc. has stuffed its stocking in recent days with a few key acquisitions primed to enrich consumers’ use of the mobile payments app for everyday activities.
Bank of Beirut installs Misys Sophis toolkit
Bank of Beirut has gone live on Misys Sophis Value platform, which the bank says will help it increase its STP rate, manage trade repository and cross-asset collateral and margin, and better interact with Lebanon’s other banks.
Colt-SIA alliance signs up Monte Titoli in T2S coup
Italian CSD Monte Titoli will connect to T2S via Colt and SIA, rather than via Swift, as the two companies vie for business ahead of the June 2015 go live date.
Bitcoin boom prompts banking dilemma
Bitcoin is more traceable but less regulated, less expensive but more volatile, and more decentralised but less accountable, than a regular currency. Feeling confused? That’s not the half of it, according to Ernst & Young.
Shorter Holiday Shopping Season Could Mean Stronger E-Gift Card Sales
Gift cards will rule again as consumers’ top holiday gift choice in 2013, and a shortened holiday shopping season could benefit increasingly popular e-gift cards.
People on the Move: Glenn Bogan and Bill Shepp, Allied Payment Network
Allied Payment Network, a Fort Wayne, Ind.-based provider of online bill payment services to the financial industry, has hired two industry veterans to join the company’s executive team.
People on the Move: Ruben Corona, 3PEA International Inc.
3PEA International Inc., a Henderson, Nev.-based prepaid processor and program manager, has hired Ruben Corona as vice president of sales and strategy.
Companies on the Move: CPI Card Group, Center of Excellence Recognition
Littleton, Colo.-based card producer CPI Card Group has received a Center of Excellence award by the Smart Card Alliance.
Companies on the Move: Fiserv Inc., Mobile Payments Awards
Fiserv Inc., a Brookfield, Wis.-based financial services technology provider, recently announced that its Popmoney P2P payments service has taken top honors at the Mobile Money Global Awards and the Mobile Excellence Awards.
People on the Move: Douglas J. Hajek, E. Thurman Gaskill and Frederick V. Moore, Meta Financial Group Inc.
Meta Financial Group Inc. (MFG), the holding company of MetaBank, has announced the addition of Douglas J. Hajek to its board of directors, and the retirement of E. Thurman Gaskill.
Company on the Move: Paul Hastings LLP, U.S. Innovative Lawyers Report
Paul Hastings LLP has placed second this year among the top 40 most innovative law firms in the Financial Times’ “U.S. Innovative Lawyers” report.
People on the Move: Carl J. Williams, Planet Payment Inc.
Planet Payment Inc., a Long Beach, N.Y.-based payments processor, has appointed Carl J. Williams president.
People on the Move: Saleh I. Al-Furaih, Prepaid International Forum Middle East
International nonprofit trade association Prepaid International Forum (PIF) announced that Dr. Saleh I. Al-Furaih, head of consumer asset business at Al Rajhi Bank, has been appointed chairman of PIF’s Middle East chapter.
People on the Move: Chris Harvey, The Members Group
The Members Group, a Des Moines, Iowa-based card processing and payment solutions provider, announced that Chris Harvey, executive assistant to the TMG CEO, has been named vice president of the Des Moines, Iowa, chapter of the Executive Women International board of directors.
People on the Move: Andrew Mathieson, TSYS
TSYS, a Columbus, Ga.-based processor, has announced the promotion of Andrew Mathieson to group executive of relationship management.
People on the Move: Sébastien Motte, Virtual Piggy Inc.
Virtual Piggy Inc., a Hermosa Beach, Calif.-based provider of e-commerce solutions enabling children to manage and spend money within a parent-controlled environment, has appointed Sébastien Motte to lead business development in the gaming sector for the company.
People on the Move: Rajat Taneja, Visa Inc.
Visa Inc. has appointed Rajat Taneja executive vice president of technology.
People on the Move: Tim Armandpour, Colleen Lindow and Christopher McLaughlin-Brooks, YapStone
YapStone, a Walnut Creek, Calif.-based provider of Web and mobile payment solutions, recently announced several high-level appointments.
PayPal President Plans Consumer Marketing Push; Gives Nod to Bitcoin, Frowns on NFC (Dec. 10, 2013)
PayPal is bullish on Bitcoin, negative on NFC and ready to begin a major marketing push of the company’s buildup of mobile payment technology at the POS, according to David Marcus, PayPal president.
Payments Startup Clinkle Sheds Quarter of Staff (Dec. 10, 2013)
Clinkle Corp., the darling of investors and the media in recent months, appears to have hit some potholes on the road to launching a payment app that reportedly enables users to transfer funds between individuals and groups, and emphasizes social media.
Be Kiind: Digital Gift Card Senders Only Pay if Card is Redeemed (Dec. 10, 2013)
Digital gift card provider Kiind has found a way to make hay from the fact that about 10 percent of gift cards go unredeemed.
Fortumo Takes Mobile Billing to 4th-Largest Consumer Market (Dec. 10, 2013)
Mobile carrier billing company Fortumo today is launching mobile operator billing in Indonesia, the fourth-largest country in the world by population.
Garanti Bank rolls out Turkcell mobile wallet
Turkey’s Garanti Bank and mobile operator Turkcell have partnered with Visa Europe in a deal aimed at bringing the Turkcell mobile wallet to more consumers in Turkey.
Manpower sees growth in UK financial sector jobs
According to Manpower, one of the largest personnel firms worldwide, job prospects in the UK finance sector “look strong heading into 2014 with a Net Employment Outlook of +10%”.
Mizuho International revisits reference data risk
Wrapping up all of the reference data a large global bank needs and making sure it is standardised, automated and ready for the regulator is a big task. Japanese bank Mizuho International has just installed an EDM service from vendor Golden Source, which it says will help to support trading and satisfy the regulator.
Most U.K./U.S. Consumers in the Dark about NFC, Surveys Suggest (Dec. 9, 2013)
Surveys suggest that U.S. and U.K. consumers don’t know much about NFC and don’t care.
ExxonMobil, Rite Aid Join MCX as 50-Plus Merchants Sign On (Dec. 9, 2013)
The retailer-led mobile payment consortium Merchant Customer Exchange (MCX) today announced ExxonMobil has joined its ranks, along with Rite Aid Corp., supermarket chain Giant Eagle and the convenience store chain Kum & Go.
Surveys Say: Consumers Want Small-Dollar Loans (Dec. 9, 2013)
Last week was a busy one for the payday loan industry. On Tuesday, New York’s Department of Financial Services (DFS) sent subpoenas to 16 online “lead generation” firms suspected of deceptive or misleading marketing of illegal, online payday loans in New York. On Wednesday, two new reports were released examining small-dollar lending.
Brisk Holiday Sales in U.S. and Canada (Dec. 9, 2013)
Year-over-year retail sales have been brisk between Thanksgiving and Cyber Monday in the U.S. and Canada, according to payment processors First Data Corp. and Moneris Solutions Corp.
Fed Issues Guidance on Managing Outsourcing Risk (Dec. 9, 2013)
The Federal Reserve has issued guidance on managing outsourcing risk to assist financial institutions with understanding and managing the risks associated with outsourcing bank activity to a service provider.
Caplin targets regional banks with FX platform as a service
Smaller regional banks may want a single-dealer FX platform; unfortunately, they’re not cheap, so UK technology company Caplin Systems is targeting regional banks that want a single-dealer FX platform without building it themselves.
