Two former Merrill Lynch directors, Paul Richards and Giles Hutson, have unveiled a new fintech venture, Insignis Asset Management. Insignis, a cash management company, is set “to revolutionise how clients manage their cash deposits”, the founders say. The Insignis Digital Banking Network will enable clients to deposit cash, starting from £100,000, into a hub account, […]
Banco Original, a pure-play digital bank in Brazil has gone live with a new treasury management system, OpenLink’s Findur. The vendor says the implementation was completed in ten months. Findur is the bank’s new cross-asset and treasury solution, integrated with internet banking and handling a range of financial products such as bank certificate of deposit […]
Sri Lanka-based Amãna Bank has gone live with new treasury and asset management software, supplied by Path Solutions. The new products, iMAL Islamic Treasury and iMAL AssetManagement, replaced a legacy treasury and equity management platform at Amãna. Banking Technology understands that this was Sungard’s Ambit Treasury Management. The new software interfaces to Swift and supports […]
UK-based investment company Standard Life and ING’s Australian subsidiary are working with IBM on a range of digital and data management initiatives. Standard Life: it’s personal Standard Life is personalising its financial services capabilities “to each of its 3.8 million UK customers”, IBM states. Using IBM’s analytics tools Standard Life “can accurately track a person’s […]
IDBI Capital, a subsidiary of India-based IDBI Bank, has gone live on a new securities trading and processing system, Bancs. The system is supplied by TCS Financial Solutions. Bancs supports online brokerage operations at IDBI Capital. It provides front-to-back office functionality and replaced IDBI Capital’s multiple trading and trade processing platforms. According to TCS, IDBI […]
UBS Wealth Management Americas (WMA) and tech company SigFig has formed a “strategic alliance” to develop digital technology for UBS WMA, its financial advisors and their clients. San Francisco-based SigFig specialises in wealth management software. It will create and customise digital tools and services for UBS WMA’s 7,000 advisors. UBS WMA’s remit is domestic US and […]
The treasury function plays a pivotal role within a bank, and with great power comes great responsibility… and the need for automation. Misys and Banking Technology conducted a survey to find out about the changing role of the banks’ treasury and the degree of support received from current systems. How can technology help treasurers cope […]
London-based Calastone, the global funds transaction network, has expanded into New Zealand, and already carried out its first transaction with Australia. Calastone MD Australia, Sarah Hayward, says the firm’s extended cross border coverage enables transactions between Australian and New Zealand platforms, fund managers and respective counterparts. “Our expansion has been primarily driven by our Australian […]
First Global Trust Bank (FGTB) is a new name on the UK banking scene. The bank has recently been granted an “authorisation with restriction” licence to take deposits by the Prudential Regulation Authority (PRA). The London-based company was originally set up under the name of Llamabrook in 2011. It became FGTB in March this year […]
Global Post Trade Management (GPTM) is a combination of Broadridge’s existing systems and products plus some new components. GPTM has already been adopted by “a major investment bank”, the vendor says. Although the solution is marketed as a new, “next generation” offering, its underlying technology comprises the existing products of Broadridge. “GPTM incorporates Broadridge’s core […]
KBZ Stirling Coleman (KBZSC) and AYA Trust go live with TCS Bancs, and Bank for Investment and Development of Vietnam (BIDV) looks for a hardware provider for its new subsidiary in Myanmar. KBZSC and AYA Trust TCS Financial Solutions has completed the deployment of its TCS Bancs system to support securities trading and settlement at […]
Tradition, the interdealer brooking arm of Compagnie Financière Tradition, is poised to launch a new EU-regulated multilateral trading facility (MTF) for collateral and secured deposits. Dubbed Elixium, it will open for business in May this year. “Elixium has been developed to address the growing need for a transparent, open to all, peer-to-peer, regulated marketplace,” says Tradition. […]
Broadridge Financial Solutions has launched a new solutions partner programme to enable consulting, technology and servicing firms to offer technology solutions. Partner firms will get access to solutions across wealth management, asset management, capital markets and corporate issuer segments; and a set of sales enablement resources, technical training services and a financial benefits package. Ira […]
UK-based Liontrust Asset Management has gone live on Eze Software Group’s OMS (order management system) and portfolio accounting solutions, implementing a front-to-back office workflow to replace its in-house systems. Eze Software Group says its investment software suite was chosen after a “rigorous and lengthy” selection process involving a number of unnamed vendors. Liontrust, which has […]
UK-based CRM solutions provider Wealth Dynamix has launched WDX ONE, a cloud-based framework for wealth and investment managers. WDX ONE is targeted at small to mid-market firms, and Wealth Dynamix says it cuts implementation costs by over 60%. Groupe Financiere Hottinger (GFH), a London-based portfolio management and financial advisory service, is one of the first […]
Singapore-based Maybank Private Wealth has gone live on Avaloq’s core banking platform, Avaloq Banking Suite. The project dates back to autumn 2014, when the deal between the two parties was signed. Alvin Lee Han Eng, head of private banking at Maybank Private Wealth, is complimentary of the project team, describing it as “professional and competent […]
Monex, one of Japan’s largest online trading brokers, is deploying a new platform for its domestic equity and investment trust processing business. The supplier is Broadridge Financial Solutions. Broadridge’s offering is JASDEC (Japan Securities Depository Centre, Inc) Processing Solution. Oki Matsumoto, CEO of Monex, says the new platform “will enable us to further improve our […]
Asset management firm Blackrock is trialling Symphony’s new financial messaging app. The app is being tested by part of Blackrock’s workforce and it is “looking to roll it out more widely in the coming months”. Blackrock is a major name to come onboard and the firm has 13,000 employees. However, Symphony has had success before […]
It was a sense of déjà vu at TSAM (The Summit for Asset Management) 2016 in London yesterday (15 March), as the industry still says it is facing a “tsunami of regulation”. The event brought around 300 delegates, vendors and speakers to London’s Lancaster Hotel. All there to network, and discuss trends and issues in […]
Fiserv has added new advisor portfolio management and trading technology to its Unified Wealth Platform. The single platform is used for portfolio management, trading, accounting and reporting for managed accounts. The company says over 5,000 advisors and users supporting rep as portfolio manager (RPM) or rep as advisor (RPA) programmes have migrated to the “enhanced” […]
London-based Calastone, the global funds transaction network, has launched Data Services, a market intelligence solution for fund managers. Calastone says that MiFID II, the European regulatory framework designed to “improve the transparency and oversight of financial markets”, is moving responsibility to understand the distribution chain from distributors and platform providers to fund managers. Rob Swan, […]
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 […]
Temenos’ earnings have risen by 23% for the full year (FY) 2015 on the back of 52% growth in total software licensing. Along with FY 2015, the vendor reported good results for the fourth quarter of 2015 – its IFRS (International Financial Reporting Standards) revenue was $168.4 million, up from $133.1 million in Q4 2014. […]
The Linux Foundation, a non-profit organisation geared to promoting open source technology has announced 30 members from across the finance and technology industries have joined its new Hyperledger Project. Hyperledger is an open source project intended to advance blockchain digital technology for recording and verifying transactions. The founding members of the initiative represent a diverse […]
A common approach to the rules governing central counterparties (CCPs), the key infrastructure for reducing counterparty risk in derivatives trading, have been agreed between Europe and the US. The European Commission (EC) intends to adopt an equivalence decision with respect to Commodity Futures Trading Commission (CFTC) requirements for US CCPs which will allow the European Securities […]
Goldman Sachs has launched a new FICC Systematic Market Making (SMM) unit. SMM will consolidate its e-trading assets and capabilities across FICC. The move was reported in an internal memo as reflecting changes in market structure and client needs. The memo, signed by several executives including group chief information officer Martin Chavez, says, “Our ability to […]
The European Commission has put markets out of their suffering by finally confirming a one year extension to the entry into application of the revised Markets in Financial Instruments Directive, or MiFID II. The extension has been made to overcome technical implementation challenges faced by both regulators and market participants. The new deadline is 3 […]
FIS, the financial services technology provider which acquired SunGard at the end of 2015, has predicted organic revenue growth of between 3% and 4% in 2016. It reports that 2015 revenue grew by 3% over 2014 to reach US$6.6 billion. “The resilience of our business model characterised by highly recurring revenues and operational efficiencies allowed us […]
Markit has acquired systems integration software developed by JP Morgan. The provider of financial information services will make the software available to buy- and sell-side institutions seeking to integrate with major systems used in the syndicated loan market, including agent servicing platforms and Markit’s trade settlement services. Facilitating systems integration is an important step toward […]
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 […]
Investment manager AllianceBernstein is working with Interactive Data, to help evaluate its trade execution quality and perform transaction cost analysis (TCA). The work will be done across various mutual funds and separately managed portfolios using Interactive Data’s Best Execution (Best Ex) service. The service leverages its Continuous Evaluated Fixed-Income Pricing to run TCA for fixed-income […]
Fixed income market operator Tradeweb has launched an electronic over-the-counter (OTC) marketplace for US-listed exchange traded funds (ETFs). The firm says the platform tackles some of the challenges inherent in institutional OTC trading such as pre-trade price transparency, operational efficiency and access to institutional-size liquidity. Tradeweb clients will be able to use the platform to […]
Central securities depositary Euroclear and consultancy Oliver Wyman have issued a report on the use of blockchain, the distributed ledger technology that underpins Bitcoin transactions, in capital markets. The firms arguing that major existing players will have to work with newcomers to create a framework that operates between firms and under regulatory obligations. Blockchain and […]
The US division of RBC Wealth Management is working with BlackRock-owned digital wealth management provider FutureAdvisor on a pilot program for select clients in the United States. Called RBC Investor Gateway, the new service will provide RBC Wealth Management financial advisors with the opportunity to reach a broader range of clients through FutureAdvisor’s digital advice platform. […]
Morgan Stanley has appointed Naureen Hassan as chief digital officer for Wealth Management, a new position in which she will lead the strategy and marketing of digital tools and platforms serving the firm’s 16,000 financial advisors and 3.5 million clients. Naureen Hassan served most recently as executive vice president, Investment Services Segments and Platforms at […]
Malaysia headquartered RHB Investment Bank (RHB) has implemented Fidessa as its trading platform across Asia. The system, managed by Fidessa throughout the region, provides algorithmic trading across all member markets, ‘intelligent’ indications of interest (IOIs) and a centralised order management system (OMS) with integrated middle-office to support RHB’s regional business. The ability to on-board a […]
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 …
BNP Paribas Corporate and Institutional Banking (CIB) has announced that it has appointed Rudi Collin as Head of Digital Transformation for CIB. Previously Collin was head of Electronic Business and Markets for the Global Markets business and prior to this, was chief operating officer for the fixed income division of the bank. In his new role, […]
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, […]
Global investment and private bank, UBS, has signed an agreement to expand its use of the AppDynamics Application Intelligence Platform across its critical applications to supports its digital transformation initiatives. “Using AppDynamics we have been able to improve the speed at which we identified and remediated application issues, as well as avoid incidents in the […]
