Online trading service DCM Capital has released a trading platform with a social media sentiment feed, allowing traders to incorporate information from channels such as twitter and Facebook into their trading decisions.
HSBC is to pilot a foreign exchange netting system in China after getting approval from authorities there – the first foreign bank to get such approval. The programme is part of the Chinese State Administration of Foreign Exchange’s recently launched Foreign Currency Centralised Management pilot scheme for multinational companies.
Vienna Stock Exchange has started a new low-latency market data service that it says will provide better, faster market data for investors interested in trading Vienna, Prague and Ljubljana.
Banking software provider Misys has incorporated global processing into its trade finance solution, TI Plus, in a move that the firm says will help banks gain a competitive advantage through improved customer service and reduced costs.
Investors looking to trade in Russia can now take advantage of a new high-speed route from Frankfurt to Moscow, built by technology and connectivity provider TMX Atrium. The idea behind the new link is to provide access for clients that need low-latency access to the Russian market, which currently represents the world’s sixth largest economy, […]
Jan. 14, 2013 MCX executives and member merchants revealed a few more details about their plans for mobile payments during a panel at the National Retail Federation’s Annual Convention & EXPO in New York City today, including that its initial mobile payments solution will be primarily barcode- and cloud-based. The coalition of merchants, which announced formation […]
Jan. 14, 2013 First Data Corp.’s CEO Jonathan J. Judge plans to step down from the company for health reasons, the company said. First Data will conduct a search for a new CEO and Judge will maintain his positions as CEO and board member until a replacement is found, but no later than March 31, […]
Jan. 14, 2013 Restricted-spend healthcare payment provider Medagate, a wholly owned subsidiary of InComm, has announced the launch of what the company calls the first dual-network healthcare spending card. The MasterCard-branded Dual Value Health Card enables employers and health plans to offer members a healthcare funding account, such as a health savings account (HSA) or […]
Jan. 14, 2013 Payelp Global, a Los Angeles-based e-commerce platform serving merchants via 300 different payment gateways worldwide, is expanding its services to include a reloadable virtual prepaid card for consumers in regions that lack broad credit and debit card penetration. The offering builds on Payelp’s existing partnership with Moscow-based Qiwi Ltd., which recently introduced […]
Jan. 14, 2013 Nearly twice as many mobile phone users by the end of 2017 will have used their devices for mobile banking, compared with this year—1 billion versus 590 million—according to a new report from U.K.-based Juniper Research. The developed markets of Far East & China, North America and Western Europe will have the […]
Jan. 14, 2013 San Francisco-based mobile direct carrier biller Boku has received an e-money license for its European payments platform. Boku said the approval from the U.K.’s Financial Services Authority will enable the company to expand its platform in Europe. Currently operating in more than 65 countries, Boku has direct billing deals with about 250 […]
January 2013 By Bill Grabarek, Senior Editor Financial institutions must combat persistent consumer indifference toward mobile banking in the United States if they want to see consumers move toward mobile commerce, according to a recent report by Javelin Strategy & Research. The research, which outlines financial services trends in 2013 as well as how […]
January 2013 Payair, a Swedish mobile commerce company, has hired Dan Åkhagen as human resources director. He will be responsible for the recruitment of new staff and the development of existing employees. Åkhagen has extensive experience with human resources issues in both public and private sectors. Before joining Payair, he was employed by game developer […]
January 2013 MasterCard Worldwide has announced three new appointments to bolster its Asia-Pacific, Middle East & Africa (APMEA) leadership teams. TV Seshadri is moving from India to Singapore as group executive, global products and solutions (GP&S) for APMEA. Seshadri will assume responsibilities for developing, driving and implementing product strategies and solutions for MasterCard to maximize the […]
IT2 Treasury Solutions, a UK company that provides treasury management software and services for large corporations and small and mid-sized financial institutions, has been sold to Wall Street Systems, a subsidiary of trading technology provider ION Trading.
Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.
As uptake of mobile banking services is predicted to reach 1 billion by 2017, banks are starting to view the mobile channel as an indispensable revenue stream, according to Nitin Bhas, senior analyst at telecoms research firm Juniper Research.
Swift, the Brussels-based financial messaging consortium has appointed Juliette Kennel to the newly-created post of head of market infrastructures. Kennel, formerly head of standards, will be responsible for bringing together Swift’s activities in this area. Swift’s relationships with other market infrastructures is a focus for Gottfried Leibbrandt, who took over as chief executive last summer, […]
Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.
Jan. 10, 2013 European banks and prepaid card marketers are weighing their options as they await word on a European Parliament initiative to guarantee all European Union citizens access to a payment account, according to observers. The push to bring payment services to all springs from a European Commission announcement in March 2012 that laid […]
Jan. 10, 2013 Salt Lake City’s focus as a hotbed of NFC-based mobile payment intensified today as U.S. Bank announced the launch of its “Go Mobile” app enabling some of its credit card customers to convert their iPhones to an NFC payment device. Salt Lake City residents can now wave their phones to pay at […]
Jan. 10, 2013 Down-to-the-wire drama over the U.S. economy and the “fiscal cliff,” lasting effects of Hurricane Sandy and relatively modest retail discounts during the holidays are likely contributors to December having the lowest monthly dollar volume growth in three years, according to the latest SpendTrend data released by First Data Corp., an Atlanta-based payments […]
Jan. 10, 2013 NetSpend Holdings Inc. has added another partner to its growing payroll card business. The Brink’s Company, which is best known for supplying security-related logistics and transportation services, will offer a new payroll card in partnership with NetSpend, which will serve as exclusive program manager and processor. The Brink’s Money prepaid card, set […]
Jan. 10, 2013 Tupelo, Miss.-based BancorpSouth Inc. has announced the launch of a new GPR prepaid card targeted at travelers, students and online shoppers. The MasterCard-branded card can be used at retailers, online and for cash withdrawal at ATMs, and features an online account management system that enables reloads over the Web. BancorpSouth said there […]
Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.
RBS and NatWest have launched a free online business supplier community called BizCrowd, which is designed to encourage collaboration between British SMEs.
JP Morgan has begun rollout of its new multi-asset class trading platform, JP Morgan Markets, which the firm says will make it easier for clients to bring together different elements such as research and analytics and convert them into successful trades.
ATM maker Diebold has developed an ATM that lets customers withdraw cash without using a card – and saves the bank money in the process.
January 2013 By Jeremy T. Rosenblum and Stefanie H. Jackman, Ballard Spahr LLP The sky is not falling—at least yet. The ability of the Consumer Financial Protection Bureau (CFPB) to supervise smaller banks (less than $10 billion in assets) and other companies providing prepaid cards to consumers is currently limited. For participants in the […]
BNY Mellon is planning to open a new issuer central securities depository that it claims will offer market participants more efficient post-trade services.
NFC technology advocates face continued disappointment in 2013 as it is likely to be overshadowed by other developments in retail payments, according to a new report by financial research firm Celent.
Financial technology company SunGard has acquired XcitekSolutionsPlus, a company that provides corporate actions tools, in a move aimed at capitalising on the increasing automation of the sector.
Jan. 8, 2013 Atlanta-based prepaid distribution and technology provider InComm has acquired Giftango Corp., the Portland, Ore.-headquartered digital gift card fulfillment provider, in a move InComm says is meant to expand the company’s reach into high-volume, e-commerce gift card sales and distribution. “This acquisition opens doors to new and meaningful distribution channels for InComm merchants […]
Jan. 8, 2013 Customers of U.S. Bank, Minneapolis-based lead bank of U.S. Bancorp, now will be able to set up bill payments by photographing their paper bills using the camera on smartphones and tablets. Mobile Photo Bill Pay could help spur bill pay adoption by eliminating the need to manually enter biller and payment information, […]
Jan. 8, 2013 After a strong post-Thanksgiving start, in-store holiday retail sales were sluggish this season as an uncooperative calendar and a continued shift toward online shopping dragged down store visits. According to retail analytics provider RetailNext, brick-and-mortar retail traffic was down significantly in the 2012 holiday season, as the number of store visits fell […]
Jan. 8, 2013 Coinstar Inc. is introducing a new dimension to the secondary gift card market with Alula, a kiosk service it’s piloting in some supermarkets that enables consumers to immediately convert unused gift cards into cash. The service cuts out steps and speeds up the process of selling unused gift cards through various online […]
January 8, 2013 Mozido LLC, a startup that made its mark with cloud-based, white-label mobile payments services for banks and merchants, is moving into new territory with its acquisition of PagoVision Inc., which provides check-cashing services to unbanked and immigrant consumers through a network of 1,500 U.S. merchants. The move brings PagoVision’s robust array of […]
The recent market data glitch on US consolidated tape C, in which investors were unable to view Nasdaq-listed stocks, highlights the need for regulation on resilience, according to Frederic Ponzo, managing partner at capital markets consultancy GreySpark Partners.
