The upcoming IPO of Russia’s Moscow Exchange on its own bourse is just one step in a titanic effort to transform Russia’s capital markets and attract attention from international investors – and it may not be the most important one, according to Serge Alexandre, electronic trading services at Russian broker Otkritie.
Former Liquidnet Europe head John Barker is to take up a new role at Russian financial services firm BCS Financial Group, Banking Technology has learned.
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.
The London Stock Exchange Group has entered a partnership with Peru’s Lima Stock Exchange, in which the LSEG will provide trading and smart order routing technology to Peru.
Proposals in Germany that would affect the country’s capital market structure could create problems of regulatory arbitrage when the European Commission’s MiFID II arrives in 2015-16, according to Mark Spanbroek, general secretary at the FIA European Principal Traders Association.
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.
As job cuts continue to bite at some of the world’s largest banks and financial institutions, new figures from Bloomberg Industries reveal the scale of the cull driven by lacklustre macroeconomic performance in Europe, a declining stock market and tightening financial regulation.
Cambodia’s Acleda Bank has embarked on a massive programme of expansion in a bid to reach unbanked customers in the country, drawing on core banking technology provided by Swiss banking software company Temenos.
Swift has opened its Innotribe Startup Challenge 2013 for entries. The year-round competition is intended to introduce financial industry decision makers and early-stage investors to the “innovations and emerging companies that are poised to transform the industry”.
An alliance between central securities depositories in Germany, Spain, Brazil, South Africa and Australia aims to tackle the expected global shortfall in collateral arising from tough new financial regulation.
Faced with flatlining IT budgets, global CIOs must better exploit the business potential of technology to achieve results – currently they realise only 43% of that potential says Gartner. Top of the priority list is what the research firm calls ‘digital technologies’. In this it includes mobile, analytics, Big Data, social media networking and cloud, […]
A heated argument that erupted between panellists at an event in London yesterday signals deep divides in Europe over the role that financial regulators should take as France and Germany introduce their own national rules.
Interdealer broker ICAP has raised $36 million through the sale of a 12% stake in its Traiana post-trade processing and risk management business to a consortium of banks – Bank of America Merrill Lynch, Barclays, Citi, Deutsche Bank, JP Morgan, Nomura, and the Royal Bank of Scotland.
Market participants have expressed support for controversial new proposals in Germany to control high-frequency trading, including a requirement to obtain a licence or stop trading.
The banking industry, integral to our commercial and personal lives, has always evolved with the times to embrace new challenges and consumer attitudes. Technology plays an obvious and increasingly important role in this evolution.
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.
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, […]
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.
The finance sector has been plagued with bad press over the past five years, with little respite for those in the industry, but despite the issues faced by the sector, 59% of IT jobseekers would still consider entering the industry, writes Richard Nott, website director at CWJobs.co.uk.
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.
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.
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.
BNY Mellon is planning to open a new issuer central securities depository that it claims will offer market participants more efficient post-trade services.
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.
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.
Thomson Reuters has launched a tool to help financial institutions comply with the US Foreign Account Tax Compliance Act, widely known as FATCA, which requires banks to identify their US customers for tax purposes.
As the European Commission prepares new rules that will reform Europe’s capital markets, buy-side market participants must be careful to ensure that they are not misunderstood and even side-lined by politicians in Brussels, warns David Morgan, director for trading and client connectivity, capital markets at financial technology provider SunGard.
New regulations that will affect how banks run crossing networks for their buy-side clients should avoid constraining investor choice by forcing a ‘one-size-fits-all’ approach to trading, according to Miranda Mizen, senior consultant at TABB Group.
Ernst & Young has developed new software designed to catch employees engaged in corporate wrongdoing, as Swiss bank Wegelin and Co prepares to cease operations following the firm’s prosecution for helping US citizens evade taxes.
Bursa Malaysia has introduced a new market surveillance system for equities and derivatives from Sri Lanka-based IT company MillenniumIT.
UK technology company Celoxica has launched a new futures trading platform, which it says will make automated trading strategies even faster and more efficient.
Global investment banks need to stop focusing on easy opportunities and start innovating, according to a new report by US business consultancy AlixPartners – even if that means unbundling services and embracing smaller financial institutions as allies.
Data users wanting to use Reuters Instrument Codes to access data carried on consolidated data feeds from other information providers will be able to do so following the resolution of a European Commission investigation into whether Thomson Reuters was abusing its monopoly position.
Alternative investment management firm Man Group has gone live with Swift’s Global Electronic Trade Confirmation messaging service, and successfully confirmed its first trades with Morgan Stanley using the Cor Financial Salerio post-trade management service.
