Financial technology consultancy Capco has found that cost pressure will drive the uptake of the utility model in finance. In its latest report, ‘What Makes Utilities Useful,’ it surveyed senior banking executives’ attitudes towards adoption of a utilities-style approach. With responses from 102 financial services professionals across 69 financial institutions in 26 countries, they found […]
ITRS, the analytics and real-time monitoring technology provider, has announced plans to integrate its Geneos platform with the trading and risk management platform of eBroker Systems to provide a series of performance metrics for users. The agreement will see Geneos monitor both eBroker’s deployed and hosted trading platform. eBroker Systems operate in the Greater China […]
Trading platform provider Fidessa has reported a growth in revenue in 2015 up 7%, rising to £295.5 million up from £275 million in 2014, despite the reduction and closure of many sell-side trading operations over the last 12 months. The firm notes that the closure of the Jefferies Group’s Bache futures unit and Standard Chartered […]
A whitepaper by market operator Nasdaq OMX has warned that disruptive technology needs to be encouraged if Europe’s proposed Capital Markets Union (CMU) is to prove effective. The paper notes that the current proposals place an emphasis on larger institutions investing and growing their product and service offerings, which the firm argues do not necessarily […]
The Irish Stock Exchange (ISE) has renewed its strategic technology partnership with Deutsche Börse and extended its use of the Deutsche Börse trading infrastructure and related services. The new contract runs for 6 years until the end of 2021. Deutsche Börse has provided the Xetra platform to the Irish Stock Exchange since June 2000. Several […]
Estonia’s e-Residency platform will use a blockchain-based e-voting service to allow shareholders of companies listed on Nasdaq’s Tallinn Stock Exchange, to vote in shareholder meetings. The country’s e-Residency platform is an electronic identity system used by both Estonian residents and those with business interests in the country to access government services through e-Residency digital authentication. The program […]
The European Central Bank has selected connectivity provider SIA, in partnership with telco Colt, for its connection to TARGET2-Securities (T2S), the delayed centralised European platform for the settlement of domestic and cross-border securities transactions. The European Central Bank is expected to migrate to SIA and Colt’s value-added network infrastructure in June 2016. The two companies will also provide the ECB with a message processing […]
The European Securities and Markets Authority (ESMA) has published its 2016 supervisory priorities for credit rating agencies (CRAs) and trade repositories (TRs). The regulatory authority reports seeing a number of changes in the CRA and TR industries during 2015, with new applicants for registration in both sectors, and current authorised entities seeking to develop their […]
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 …
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, […]
The value of dark equity trading jumped last year despite pending European regulations which will limit a fund manager’s ability to trade shares away from stock exchanges, according to research from equities broker ITG.
A range of financial services and technology firms are backing efforts by The Linux Foundation to develop “an enterprise grade, open source distributed ledger framework”.
Alternative trading system Chi-X Canada has been bought by Nasdaq, as part of a push by the global exchange group to grow its presence in North America’s largest country. The deal is expected to go through in Q1 next year.
Deutsche Börse has renewed its contract with Stockholm-based independent surveillance technology provider Scila, signing a five-year agreement to continue using its software.
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. […]
Financial information provider Markit and foreign exchange settlement service CLS have launched a new service for the cross currency swaps market.
Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.
Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.
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.
Financial network BT Radianz has added Volante Technologies’ tools to the BT Radianz Cloud, in a move the two firms say will improve the reliability of clearing, settlement and payment transaction processing while cutting costs.
European exchange groups in London and Frankfurt have announced changes in their technology leadership, with the announcement of a new group chief information officer at the London Stock Exchange and a restructuring of responsibilities at Deutsche Börse.
The London Stock Exchange has signed a memorandum of understanding with JSC Kazakhstan Stock Exchange, the first ever between the two exchanges.
Derivatives exchange CME has signed a commercial agreement with Dwolla, a bank transfer platform. The arrangement will use Dwolla’s real-time architecture to support on demand payment clearing and settlement services. It is intended to streamline payment operations for CME Clearing members. “With its established customers and proven real-time systems, Dwolla’s technology provides CME Group with […]
Eight years on from the global financial crisis, and banks continue to face a growing number of challenges. Many have ceased or significantly reduced proprietary trading, with the resulting reduction in both risk and reward. This period has also seen lower risk appetite among many investors and continuing global competition which has put pressure on profit margins,
Pushing more complex products towards mandatory central clearing may increase the risks to which CCPs and clearing members are exposed. Frances Faulds examines whether CCPs can continue pooling risks in a safe and efficient way
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.
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.
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.
Post-trade processing company Bloomberg STP Solutions and post-trade and risk specialist Traiana have begun a joint effort to develop a straight-through processing infrastructure for FX options. The partners say it will help to reduce post-trade costs for market participants, which have typically remained higher than execution costs.
The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions are seeking comment on proposals for harmonising the Unique Transaction Identifier used to be used for OTC derivatives trade reporting.
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.
International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.
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.
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.
Swift has formally launched a new business intelligence solution for securities market participants following the completion of an early adopter programme. Watch for Securities is “ready for full scale use” by local and global custodians, investment banks, asset managers and broker/dealers, allowing them to monitor and gain business insights from their network traffic.
Karla McKenna has been named head of standards at the Global Legal Entity Identifier Foundation on a year’s secondment from Citi, where she is director of market practice and standards.
The London Stock Exchange has acquired quality assurance specialist Exactpro Systems, taking 100% ownership of the company.
Swift is extending its Know Your Customer compliance service into the securities area, making it available to fund distributors and custodians.
Financial services firms should get a grip on their risk management and make more use of the data available to them as part of a two-way process in gaining user trust and building new revenue streams.
Three-quarters of market participants use the FIX protocol for confirmation and affirmation of their transactions, according to a new survey released by financial industry standards body the FIX Trading Community.
