SIBOS Interview: Dr Darryl Twigs, Head of Product Management, SmartStream
SIBOS Interview: Dr Darryl Twigs, Head of Product Management, SmartStream
Data & Analytics
Deutsche creates FX index based on Autbahn data
Deutsche Bank’s Research unit is launching a new set of proprietary foreign exchange positioning indices based on data from its Autobahn FX trading platform. Called Corax – Categorised ORderflow from Autobahn FX – the indices will be published every Wednesday in the Corax Positioning Report.
Goldmans, JPM and Morgan Stanley plan reference data utility
Goldman Sachs, JP Morgan and Morgan Stanley are building a reference data utility with SmartStream, which they say will provide data normalisation and validation for all asset classes. The project aims to reduce costs for consumers of data in capital markets by economies of scale.
Bloomberg and Traiana to automate post-trade for FX options
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.
Banks can see off new challenges with a flexible but secure approach to data
Even as they cement their recovery from the financial crisis, adherents to traditional banking models are facing a new storm as they grapple with the digital demands of the Facebook generation and heightened regulatory risks surrounding data. At the same time, they must match the customer service levels offered by the “challenger” banks if they are to avoid haemorrhaging business to their nimble and digital-focused rivals.
European Commission and US “close to a deal” on data sharing
Banks may need to revisit the way they handle data, in preparation of an upcoming agreement between the European Commission and the US authorities on data-sharing.
How the Internet of Things is helping banks put their customers first
At the SAP Financial Services Forum in London last month, the topic of digital transformation dominated the agenda. From legacy banks with lumbering IT systems to nimble fintech startups, the consensus was clear: The long-standing status quo is simply unsustainable in an increasingly digital economy
EY focuses on Big Data in finance at Madrid innovation centre
A new global innovation centre in Madrid promises to illuminate the uses of Big Data for banks and financial institutions. Built by EY (formerly Ernst & Young), the centre is part of a $500 million investment in analytics by the company.
The role of intelligent analytics in retail banking
Since the financial crash retail banks are faced with more regulatory and financial restrictions than could have been envisioned. This is coupled with increased levels of competition and much reduced consumer trust. Intelligent analytics may offer part of the solution.
First for ICAP with Oracle data governance implementation
ICAP has become the first UK institution to implement a range of enterprise data governance systems from Oracle, replacing a legacy process involving manual spreadsheet maintenance and frequent e-mail exchanges.
DTCC Data Products to centralise data provisioning and access
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.
The looming possibility of Brexit underscores the need for data clarity
Tactical regulatory firefighting has distracted banks from their long-term strategic shift to an enterprise view of data. Looming issues such as the possible Brexit highlight the urgency of this task
DTCC kicks off global data harmonisation plans with derivatives
US post-trade utility the DTCC has issued a series of recommendations on global data harmonisation, beginning with credit derivatives, as part of a grand push to harmonise 30 data fields across global trade repository providers and create a global data dictionary.
McKenna to head standards at Global Legal Entity Identifier Foundation
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.
McObject distributor looks to crowdfunding in Europe
MCO Europe, exclusive distributor of the McObject high performance database financial markets in the UK and Europe, is raising investment through Crowdcube, the UK’s largest crowdfunding site, to fund growth and expansion. McObject’s eXtremeDB Financial Edition high-performance database is used for trading and risk management by banks, fund managers, brokers and data vendors.
Markit acquires Information Mosaic
Financial information company Markit has agreed to acquire Information Mosaic, a software provider for corporate actions and post trade securities processing. Information Mosaic’s enterprise software will allow Markit to extend its corporate actions service to support the full corporate actions trade lifecycle and enhance Markit’s asset servicing solutions. Michele Trogni, managing director, cohead of Solutions […]
Equiniti opens Cardiff centre to bring fintech focus to pension reform
Pensions and payments company Equiniti has opened a new fintech innovation centre in Cardiff, which will focus on bringing together fintech tools for employee share plans, online applications for investment platforms and web and mobile applications for pension products.
Things ain’t what they used to be
According to Cisco there are 15.5 billion devices connected to the internet, ranging from routers to telemetry devices, power grid controllers, smartphones and perhaps the odd toaster. Other than in retail situations this so-called Internet of Things does not immediately seem to have much to do with the financial services industry. John Bates thinks otherwise, and sets out why in his recent book Thingalytics.
Nasdaq to introduce blockchain for private equities
Nasdaq is to use the blockchain technology behind controversial alternative currency Bitcoin, as part of a push to improve the exchange’s equity management abilities. The move is the first time a major global exchange has put the blockchain concept to use.
The road towards a better bank
The financial sector is a slow mover in innovation, however no single industry is leading the way in the Digital Identities economy. Banking is one sector that can take advantage of Digital Identities to better develop customer experience given the nature of the engagement and relationship between Banks and their customers. Banks fulfil a very […]
Data integrity and post-crisis regulatory reform
The integrity of data in capital markets – be it, for example, price data, trade facts, collateral balances, or other key business information – has long been a fundamental concern of technologists and business stakeholders. But how do we define integrity?
OMG addresses data sovereignty issues in the cloud
The Object Management Group has formed a new working group to study issues of documenting and controlling data across distributed cloud environments, a big inhibitor of cloud for those with strict data sovereignty requirements such as banks and financial services firms.
CounterpartyLink adds hierarchy profiles to legal identity service
CounterpartyLink, a provider of legal entity intelligence for buy- and sell-side institutions and law enforcement agencies, has announced CPL Hierarchy Profile, a new product designed to provide a single view of the client across complex client groups.
Boat to launch APA reporting service for MiFID II transparency
Boat Services, the OTC trade reporting service provider owned by technology vendor Cinnober, plans to introduce a MiFID II compliance solution, offering publication services for all instrument classes. It will apply for authorisation by the FCA in the UK when Approved Publication Arrangement registration is available in 2016.
S&P Capital IQ launches Salesforce app
Financial data and analytics specialist S&P Capital IQ has launched a new app on the Salesforce AppExchange designed to enable sales, marketing and other professionals to rapidly identify, research and vet potential new business clients and partners.
How traditional high street banks must harness the power of big data to remain competitive
At the core of the challenge for banks is understanding their customer better and using the information effectively across the business.
Russia’s NSD revamps reference data amid transparency drive
Russia’s NSD central securities depository has launched a joint project with Interfax information agency to coordinate their efforts for the development of a system of assessing the fair value of financial instruments. The move is part of an ongoing government reform agenda designed to turn Moscow into an international financial centre.
Regulations raise new questions about industry standards
Financial market regulations across the globe are increasingly focusing on risk management. This includes ensuring it is clear who firms are trading with and for, and confirming that firms can identify the instruments being traded. As a result, the field of reference data is increasingly held under the regulatory microscope and that lens extends to the standards used to identify financial instruments, writes Chris Pickles.
Velocimetrics doubles data capture rates for trading analytics
Real-time business performance monitoring and analysis specialist Velocimetrics has announced that its TipOff product can now capture network packets to disk at a sustained rate of 40 Gigabits/sec, almost double its previous performance.
ESMA trade reporting standards “could decide” future of markets
The European Securities and Markets Association is consulting financial institutions on which messaging protocol and data formats would be best for trade reporting under MiFIR. As the timeframe for reporting comes ever closer to real-time, the consequences could be serious.
Breaking down BCBS 239
January’s Basel Committee on Banking Supervision report on banks’ progress towards BCBS 239 compliance threw up a telling contradiction. While global systemically important banks “are increasingly aware of the importance” of the BCBS 239 project, their sense of preparedness has decreased. In 2013, 10 of the 31 eligible banks reported they would be unable to comply fully by the 2016 deadline. This year, that number rose to 14. It is understandable that there is more work to be done, but how is it that the G-SIBs are moving backwards?
FCA approval takes Bloomberg into European trade reporting space
Continuing its policy of offering products that fit across user workflows, Bloomberg has moved in to the transaction reporting space in Europe. The company’s Trade Order Management System has been granted approval by the Financial Conduct Authority to report securities with an ISIN and OTC derivatives as part of the UK’s Approved Reporting Mechanisms regime.
FCA to probe competition in corporate and investment banking
The Financial Conduct Authority plans to conduct a market study of the investment and corporate banking sector to decide if competition in the sector is working properly. It may also look into the asset management later in the year.
Bringing it all together
From the early days of internet distribution, New York-based Alacra has been aggregating reference data. Chief executive Steve Goldstein told David Bannister the company’s story
Payments Council picks Swift for SEPA Only services
The UK’s Payments Council has selected Swift to build the country’s new central infrastructure platform in preparation for the next phase of SEPA regulation in 2016, through the provision of an automated central infrastructure platform for collection and maintenance of UK-specific SEPA routing data.
Laying the foundations for agile financial services
As many more tech companies begin offering bank-like services, mainstream banks are searching for ways they can fight back
SmartStream acquires Algo Collateral business from IBM
SmartStream Technologies has acquired the assets of IBM’s Algorithmics Collateral solution and will add it to its existing solutions for the automation of the end-to-end post trade lifecycle, rebranding it as TLM Collateral Management. The system provides collateral lifecycle automation for buy- and sell-side institutions, custodians and asset servicers, large and small.
Investment banks can benefit from online intelligence
It’s no secret that more bulge bracket trading desks are turning to online intelligence – predominantly social media – to obtain breaking news and views ahead of traditional wires. Yet, with constant pressure to get the edge over competitors, other departments of major investment banks will start following the trading floor’s lead.
Regulation: why it must be seen as the carrot rather than the stick
The global financial crisis triggered an avalanche of fierce criticism for the financial industry, the repercussions of which are still being felt. In its wake industry bodies around the world introduced stringent regulations that require in-depth auditing to achieve compliance and complete corporate accountability.
Diliger looks for crowdfunding to expand procurement research service
Diliger, a start-up offering research tools for buyers of capital markets services, is looking to raise £500,000 through crowdfunding using the Crowdcube site.
