Senior market participants have expressed outrage that exchanges continue to charge high fees for market data, while MTFs still lack the means to compete on auctions and are not represented on international indices.
2012 seemed like the year of regulators taking a prolonged look at computer trading – defining what it might be, its potential effects, why it may be problematic. It is still far from clear that we have answers to these fundamental questions.
A 400% increase in malware for mobile devices masks a security scene where many of the threats are much as they have been for several years – but where the volume of attacks means that firms should think in terms of when they will be attacked rather than if they will be.
Bank deleveraging may inadvertently spur a revival of equity markets, Antonio Zoido, chairman and chief executive at Spanish exchange group BME told delegates at the World Exchange Congress in London yesterday.
As new rules for the reporting of OTC derivatives draw closer around the globe, US post-trade services utility the DTCC is positioning itself as the provider of a global network of trade repositories – but OTC derivatives reform will only work if consistent measures are taken everywhere, says Stewart Macbeth, president and chief executive at the DTCC.
Regulatory data collection tools have been refined, standardised identifiers nearly constructed and more frequent and granular reporting rolled into regulation. Now that regulators have this mass of data, what is the next step in linking it and putting it to use?
Financial systems supplier Temenos made something of a splash at the Finovate Europe conference in London with the launch of LiveDesigner, a dynamic user interface designer.
The Enterprise Data Management Council has appointed Dennis Wisnosky to lead the implementation process for its Financial Industry Business Ontology – FIBO – suite of standards. Wisnosky is a veteran of the data management world, having previously acted as the chief technology officer and chief architect in the US Department of Defense Business Mission Area, […]
Hey! Mr Retail Banker, don’t get too worried about the new UK Account Switching regulation that comes into play in September – just offer your customers some money. About 100 quid should do it.
Market data and technology company Activ Financial has expanded its risk gateway tool to cover all Canadian exchanges, ahead of new rules that will require market participants in Canada to have pre-trade risk controls in place across all asset classes from next month.
OTC derivatives trade processing service MarketSERV and banking technology provider Misys have partnered to create a service for CCP clearing of FX derivatives trades.
Technologists in financial services are the least loyal to their employers, even though they also have the worst perception of the economy and of their employment prospects.
The Taiwan Futures Exchange is to list futures and options on German derivatives exchange Eurex, following an agreement between the two bourses to make it easier for international investors to access each other’s markets round the clock.
Swedbank has become the first live user of Bloomberg PolarLake’s managed service model for enterprise data management.
Payment protection insurance has dominated the coverage of complaints against banks for some time now, but many observers think that it is just the beginning of a wave of grievances about to engulf the retail banking industry.
Bank of America Merrill Lynch is seeking to attract long-term investors who have become disillusioned with equity markets. Its new trading system, Instinct Natural, is a crossing network that is clearly geared towards customers that want to trade in blocks. But market participants have expressed concerns about its potential to meet the needs of long-term investors.
Cover Story: The SEPA end date is now just a year away. Is everybody ready? Of course not.
Further evidence that bank IT spending is growing again comes from industry analysts at Ovum, which is predicting overall growth of 3.4% among retail banks, reaching $118.6 billion in 2013, as they focus on “customer satisfaction and revenue growth”.
The imposition of an £8 million fine against defunct Canadian day trading firm Swift Trade earlier this week illustrates the potential for abusive strategies that distort markets – and the need for a new approach from regulators, according to Matthew Coupe, director of regulation and market structure at NICE Actimize.
Hats off to Rising Sum, which has built a platform that identifies investment opportunities “using the acquisition criteria favoured by Berkshire Hathaway, Warren Buffet’s highly successful investment vehicle”.
Technical problems at Nasdaq and BATS have reinforced the impression among many market observers that there may be something seriously wrong with equity market structure. Recent history reads like a catalogue of disaster for many of the world’s most prominent trading venues.
As the global payments markets changes, Western Union has plans to change with it. Massimiliano Alvisini, regional director UK, Ireland & Nordics explains how and why.
New research from Experian shows that “only 65% of euro transactions have fully accurate destination routing data and 12% of electronic payments made to and from businesses in euros currently contain data errors”.
UK retail banks could be forced to share branch premises with rivals under plans to increase competition in the market, according to the chief executive of the UK’s Office of Fair Trading, Clive Maxwell.
A study shows that 62% of City traders “admit to missing key investment or sell opportunities because they didn’t keep track of time zone differences”.
The public perception of banks has been battered in recent years, but financial institutions have been working hard to repair the damage. A key tool in their strategy has been to improve customer service in a multichannel environment.
Citi has introduced a new kind of ATM designed to help customers do virtually all their banking without visiting a branch.
Flawed decisions taken by machines are causing financial services firms to lose customers and suffer unexpected costs, according to new report by the Economist Intelligence unit. Yet retail banks are increasingly turning to technology to assess customers.
A new social media tool designed for banks and built by British technology firm Integritie aims to break through the barriers that separate customers from their bank.
Conduct risk, which places emphasis on providers of credit to treat customers fairly, will challenge them to deliver higher standards of customer support across the whole relationship.
UK banks are still in “a difficult place” as they face economic uncertainty, increased cost and competitive pressures, complex regulations and rapid technological changes – but the changes that are happening in the payments industry offer scope for them to reclaim the initiative and deploy innovative solutions.
Four out of five financial institutions are not ready for new regulations governing the trading, reporting and clearing of OTC derivatives, according to a new survey by US communications company IPC.
Peter Reitz, managing director of Eurex Repo and Eurex Bonds since 2006, has stepped down from the posts. He will continue to bear overall responsibility for the two subsidiaries on the Eurex Executive Board.
Total bank IT spending across North America, Europe, and Asia-Pacific will grow to $179.2 billion in 2013, an increase of 3.4% over last year according to research and consulting firm Celent.
At the centre of the national crisis sits a banking industry tarnished in the public’s eyes by poor performance, excessive pay and the ongoing need for state support. Just where does the industry go from here and how does it start to rebuild trust?
Lloyds Banking Group is to cut 940 more jobs, the latest in a series of savage headcount culls at major financial institutions. Separate announcements earlier this week confirmed 200 human resources jobs would be axed, and a further 175 cuts made in the Halifax branch network.
Too many brokers are still using outdated methods such as email and telephone to confirm trade matches, undermining the advantages gleaned from high-performance trading technology, according to a new study by financial research firm Aite Group.
Chilean broker Banchile, part of Santiago- based Banco de Chile, has deployed a brokerage platform from UK systems supplier Fidessa that will link it to international trading venues.
German central securities depository Clearstream has partnered with Belgian bank and insurance firm Belfius, to develop a new collateral service for bilateral trades, focusing on OTC derivatives and aimed at corporates and medium-sized banks.
Nasdaq OMX is to combine its market technology and corporate solutions businesses, in a move that it says will help the firm provide more transparency to customers and a stronger business proposition.
