Trading firms need to upgrade their technology as often as every three months or face getting left behind by the ferocious pace of competition, according to specialists behind the HFT industry’s breakneck expansion into the world’s emerging markets and untamed asset classes.
Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.
A new tool designed to help banks and their clients gain a decisive trading advantage over their rivals based on Twitter posts has been launched by UK-based fin tech firm Eagle Alpha.
Trading infrastructure provider TMX Atrium has released a set of options for trading Russia through its connection to Frankfurt’s Equinix FR2 IBX data centre and the Moscow Exchange – a move designed to shepherd customers as rival providers stake out their own claims to the Russian market.
Most emerging Asian countries have developed or are developing their own CCPs and trade repositories in response to global reforms of OTC derivatives markets – but proliferation of CCPs is a concern, according to new research by analyst firm Celent.
Eurex clearing, the post-trade arm of Germany’s Eurex derivatives exchange, is to act as the clearing house for new securities borrowing and lending venue SL-x Trading Europe when it launches in Q4 this year.
Russian broker BCS Prime Brokerage plans to install a new pre-trade risk system called TripleCheck, which it says will help it to meet tough new regulations on algorithmic and proprietary trading.
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.
Created in April 2013, Turkey’s new Borsa Istanbul exchange is at the heart of an ambitious project to turn Istanbul into a major global trading centre. With the country’s economy ascendant, Turkey has a lot to offer, according to Ali Çöplü, chief information officer of Borsa İstanbul.
A three-hour trading crash at Nasdaq OMX caused by a connectivity issue has once again put the spotlight on trading technology and the resilience of financial markets, which have been sorely tested in recent months and years.
Financial industry analysts have warned that investors should be careful about how they approach automated trading, following news that a trading error at Goldman Sachs lost the firm $100 million on Tuesday.
Regulation is a key driver of change on IT strategies across the wealth management sector, and brings huge challenges, especially for smaller players: predictions are that the cost of compliance may rise by a further 16% by 2015.
Most debates about High Performance Computing in financial services quickly turn into conversations about high frequency trading, but there are many more reasons for getting the best of out of systems. Electronics and computer technology have always been pushing the boundaries of smaller, faster, cheaper (or at least, ‘more affordable’) and financial services firms have always been quick to take advantage of the latest advances.
As the world’s banks continue to struggle with severe regulatory change, economic turbulence and technological evolution, a new report by analyst firm Tabb Group says that financial institutions will have to provide immediate, friction-free access to content, community and execution, or face extinction.
An international derivatives market called Global Markets Exchange Group International has been launched by co-founders Hirander Misra and Vj Angelo, in a bid to target new business opportunities created by changing financial regulation.
As the Moscow Exchange launches a new liquidity incentive promotion, Sergey Sinkevich, head of DMA at Russian broker Otkritie, argues that Russia’s move to adopt T+2 settlement is the most important development in the last 20 years for the country’s capital markets.
Bloomberg has received approval to launch a Swap Execution Facility, ahead of the compliance deadline for new US Dodd-Frank rules for clearing of OTC derivatives.
Is there anything to fear about the new FCA? Well, possibly quite a lot, it would seem. A hundred or so days into the new era of the FCA and it would be hard for anyone in the wealth management or private banking sector to have missed the message that the regulation of the sector is going to be different from now on.
Ukraine’s UniCredit ‘Ukrsotsbank’ has chosen US technology firm Fiserv to provide its Integrated Currency Manager tool, which the bank will use to improve its supply chain management and make better use of its available resources.
Argentina’s Caja de Valores central securities depository has chosen the London Stock Exchange to be its technology provider, as the depository gears up to support the country’s new Bolsa & Mercados Argentinos exchange.
For firms who remember MiFID I, and those that don’t, round two is almost upon us. This month, the Council of the EU agreed their general approach, meaning that the draft of MiFID II/MiFIR is free to advance to the European Parliament. If all goes according to the current plan, the new combined legislation will be with us in time for 2015 implementation.
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.
At a passionate debate in Westminster this week MPs, led by Rushanara Ali, member for Bethnal Green & Bow, called for government action in the wake of Barclay’s recent decision to close accounts for a large number of small payments businesses in the remittances sector.
With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.
On 23 April 2013, the markets suffered a brief, sharp drop as algorithms reacted to “news” from the Associated Press’s Twitter handle that President Obama had been injured in a bombing attack at the White House. In a few minutes, the Dow Jones dropped 145 points, Standard & Poor’s 500 Index lost $136 billion in […]
Moroccan investment bank Casablanca Finance Group has installed a new banking system from Swiss technology company Avaloq, as the Moroccan financial services industry spreads its wings across Africa.
The Bahrain Bourse is to replace its trading platform with a new one provided by Nasdaq OMX, as the Bourse aims to become a trading hub in the Persian Gulf region.
Saudi Arabia’s Riyad Bank has chosen technology company Calypso Technology to help revamp its treasury operations and improve its back office.
Turkey’s newly-merged Borsa Istanbul has formed a deal with Nasdaq OMX, under which the new Turkish market will take up Nasdaq trading, clearing, market surveillance and risk technology.
The Iraq Stock Exchange is to upgrade its trading technology using Nasdaq OMX, in a project that highlights the progress made by the country’s stock market since the American-led invasion in 2003.
BNP Paribas Securities Services has added Collateral Access, an integrated and comprehensive collateral management system for both buy-side and sell-side clients.
Broadridge Financial Solutions is to acquire Bonaire Software Solutions, a provider of asset management fee calculation, billing, and revenue and expense management solutions.
The impact of the internet on the banking industry may yet turn out to be far more important than the financial crisis and the subsequent regulatory overhaul. Viewing statements on-line and making payments electronically is just the very beginning of the revolution.
Direct market access provider Object Trading has connected its clients to Nasdaq OMX NLX, the newly launched London derivatives market, and they have begun live trading.
The Alternative Investment Fund Managers Directive threatens to have a significant operational impact on the industry. Fund managers will soon be subject to a host of new requirements including increased KYC and due diligence, better risk and liquidity monitoring, and new reporting and disclosure requirements. However, in the UK the transition looks to be particularly […]
Union Bank of Taiwan has signed up with global fund transaction network Calastone to automate its offshore fund transactions through the new Taiwan Depository and Clearing Corporation fund service.
New York start-up Simplified Financial Information is piloting a market data analytics system prior to release later this summer.
Next Bank Madrid has chosen the finalists for a competition that seeks to find the best financial services startup companies from the Spanish and Portuguese speaking world.
The securities markets are changing rapidly in the face of regulation and technology shifts, and none more so than the fixed income markets.
India’s IndusInd Bank and Western Union have created a partnership designed to make foreign exchange and global business easier for SMEs in India.
