UniCredit plans mobile payments play with First Data
European commercial bank UniCredit has chosen payment processing company First Data Corporation to help it pursue its mobile payments plans.
European commercial bank UniCredit has chosen payment processing company First Data Corporation to help it pursue its mobile payments plans.
Italian banking group Instituto Centrale Banche Popolare Italiane has introduced a new trading and recording system across its Milan operations, which it says will help it to better keep up with changing regulation and offer a better service for its traders.
Poland’s Warsaw Stock Exchange has introduced co-location systems designed to appeal to high-frequency traders, as Italy clamps down on HFT with Europe’s first HFT-specific tax. The moves highlight ongoing national and international divisions over the role of HFT in capital markets.
Financial technology company SIA has acquired Italian telecoms firm Emmecom, as part of a plan to create a new technology infrastructure across Europe for merchants and banks.
The London Stock Exchange’s plans to establish a new central securities depository in Luxembourg reveal the way regulation can have unintended consequences – in this case a proliferation of CSDs.
The imposition of a financial transaction tax in Italy on Friday has prompted condemnation from senior financial market observers, who are warning that the new rules could tip Europe into a liquidity drought that will damage banks and asset managers, punish traditional market participants and encourage a slide away from equities towards other asset classes.