Canada’s TMX Group has recruited TCS to help it renovate its clearing and settlement business technology. The Indian vendor will provide “a single, integrated technology platform” to TMX – TCS Bancs for Market Infrastructure – to replace disparate legacy systems deployed by the Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC).
Nasdaq and Citi’s Treasury and Trade Solutions (TTS) have unveiled a new payment solution for automating reconciliation using Chain’s blockchain infrastructure platform. The solution enables straight through payment processing by using a distributed ledger to record and transmit payment instructions. A number of payment transactions have been done including Citi’s automated processing of cross-border payments […]
Trading tech firm Corvil has launched “Cara” – its virtual security expert designed for electronic trading businesses looking to solve cyberattack issues. Powered by machine learning algorithms, Cara works in tandem with Corvil’s existing analytics appliances and it autonomously identifies vulnerabilities and possible attacks within trading environments. It then runs multi-dimensional security analytics that detects […]
Say goodbye to long reads with this brief round-up of the latest buys in the fintech world. Features KPMG, Matchi, Ancoa, Cinnober, Valitor, International Payment Services and AltaPay. KPMG has acquired Matchi, a matchmaking platform that connects financial institutions with fintech companies. The pair have worked together since 2015, so the deal “cements” their relationship. […]
Nasdaq has unveiled its venture investment programme, Nasdaq Ventures, as it seeks out new fintech firms to work with in the global capital markets. Adena Friedman, president and CEO, Nasdaq, says it plans to “accelerate the pace of innovation”. The minority stake investments made by Nasdaq Ventures are expected to range from less than $1 […]
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
US-based brokerage services provider Convergex has implemented Ancoa’s market surveillance platform to monitor all trading activity across its domestic and international cash equities and options businesses. It also monitors trading activity of “all lit and dark venues” including Millennium, Convergex’s proprietary applicant tracking system (ATS). The cloud-based deployment is running on Amazon Web Services (AWS), […]
The Fintech Acquisition Corp I team that raised $100 million through an IPO in February 2015, has returned a new blank check company – Fintech Acquisition Corp II. It seeks to raise $153 million.
Stringent regulations and client protection initiatives enacted in the wake of the 2008 financial meltdown are causing unprecedented and growing technical challenges. Banks and other financial institutions must monitor, collect, and analyze vast amounts of data from multiple, disparate sources in real-time. This new white paper provides an overview of the current economic and regulatory […]
London-based blockchain firm SETL and Cobalt DL, a private peer-to-peer network, have teamed up to use SETL’s OpenCSD within the Cobalt FX post trade platform. The service is set to launch in 2017, with 15 institutional FX participants “already committed” to the service. Earlier this year, SETL unveiled the OpenCSD platform, its first commercial offering, […]
BNP Paribas has selected Fidessa’s derivatives trading platform to underpin the bank’s futures and options agency trading business. The platform will support the workflow requirements across Europe, Asia-Pacific and North America. It will also provide BNP Paribas with a suite of specialised derivatives algorithms, including benchmark algos and advanced synthetic order types to normalise trading […]
This paper looks at the current state of high-frequency trading – why it’s popular and what types of strategies and technologies are being used. It then explores how in-memory computing can meet the technological challenges and increase trading profits. As competition intensifies in the field of high-frequency trading, financial services firms need a new level […]
“First they think it’s stupid, then they think it’s obvious. Blockchain has passed the first test.” These are the words of an economics professor (quoted, but not present) on revolutionary ideas, and perhaps a succinct evaluation of where blockchain is right now. In a packed conference room on the Monday afternoon (26 September), the panel discussed “Blockchain 2020 – what next for adoption by the financial industry”.
Our rejuvenated Banking Technology Awards have received an unprecedented amount of entries this year – from banks, financial institutions, fintech firms and individuals worldwide – and we are happy to reveal the shortlisted candidates. Now in their 17th year, Banking Technology Awards recognise and reward excellence and innovation in the use of IT in financial […]
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Inter-dealer money broker Tullett Prebon has partnered with GMEX Group to develop a hybrid voice and electronic trading platform for FX Options. The new FX Options trading solution will integrate GMEX’s request for quote (RFQ) technology with Tullett Prebon’s existing central limit order book (CLOB) capability. GMEX Technologies, a wholly-owned subsidiary of GMEX Group, supported […]
Canada’s major exchange, depository and clearing group – TMX – has unveiled a new initiative that is set to transform the company into “a client-driven solutions provider to the Canadian and global capital markets”. TMX states that “the objective of the initiative is to align, simplify and integrate relevant systems and operations to both lower […]
Trading platform provider Fidessa has reported an increase in profit and revenue in the first half of 2016. For the period ended 30 June 2016, revenue rose by 9% to £158.3 million. Profits were even better. Operating profit was £22.0 million, compared to £19.2 million in 2015. Pre-tax profit was also up – with a […]
DB1 Ventures is Deutche Börse’s new dedicated corporate venture capital platform, set up as part of the group’s “Accelerate” growth strategy. The DB1 Ventures team will be primarily based in Frankfurt and will undertake new investments and also manage Deutsche Börse’s existing minority shareholdings. “DB1 Ventures will invest only in areas that are strategic to Deutsche […]
India-based uTrade Solutions has launched uClear, a blockchain tech solution for real-time clearing and settlement for financial markets. The first taker is Global Markets Exchange (GMEX) Group. It will integrate uClear next month through its GMEX Technologies subsidiary and with the support of its development partner, Forum Trading Solutions. Hirander Misra, CEO of GMEX Group […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Goldman Sachs to underpin new digital bank with Infosys tech It’ll be the e-Finacle digital banking platform, Banking Technology understands. Infographics: The Euro 2016 guide to e-commerce In the spirit of that football tournament that starts today, we’ve got an e-commerce […]
National Australia Bank (NAB) and technology consulting firm Lab49 are piloting the starXchange trading platform. The e-trading platform has been released to the market and offers automation for pre-trade, execution and post-trade activity. Clients can trade through the platform itself or through major multi-bank platforms. NAB partnered with Lab49, a “specialist in capital markets technology”, […]
Nasdaq has launched the Nasdaq Financial Framework for financial infrastructure providers. The framework is “immediately” available to more than 100 market operator clients globally, including traditional exchanges, inter-broker dealers and alternative trading venues, clearing houses and central securities depositories (CSDs). Adena Friedman, president and COO, Nasdaq, says the framework is the result of “significant R&D […]
New York Stock Exchange (NYSE) has launched its new integrated trading technology platform, NYSE Pillar. The new platform enables NYSE participants to connect to all of its equities and options markets using a single specification. The new platform is underpinned by a matching engine – the core exchange software that runs trading – developed by […]
New York Stock Exchange owner, Intercontinental Exchange (ICE), has confirmed it won’t make a bid for London Stock Exchange (LSE). In March, ICE had said it was considering making a rival bid for LSE – setting up a potential takeover battle with Deutsche Börse. That never happened as a few weeks later in March Deutsche […]
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 […]
Deutsche Börse has opened its fintech hub in Frankfurt to promote Germany’s start-up and investment culture. This launch is part of the Hessian State Government’s fintech initiative, and Carsten Kengeter, CEO of Deutsche Börse, first presented the details and facilities back in February. Kengeter says Deutsche Börse wants to give start-ups in the financial sector […]
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. […]
Nasdaq has launched Nasdaq Validator to provide quality assurance (QA) for exchanges, clearing houses and central securities depositories (CSDs). Nasdaq Validator is an API-independent testing platform offering manual and automated test tools for the capital markets industry. It interfaces with Nasdaq’s matching, clearing and CSD systems, in addition to systems by other providers. It is […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Deutsche Börse and LSE to merge Two hearts beat as one. D+H Corporation joins US real-time payments rush Catches up with rivals FIS and Jack Henry. Deutsche Bank and Bank of China partner for cash management Becomes first […]
Deutsche Börse and London Stock Exchange (LSE) have reached agreement on the terms of an all-share merger of “equals”. The deal follows recent speculation about the merger, and New York Stock Exchange owner, Intercontinental Exchange (ICE), saying it may make a rival bid for LSE. The merger will create a Europe-based global markets infrastructure group […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! MasterCard mulls VocaLink acquisition There are some things money can buy. US to move to shorter T+2 settlement cycle by September 2017 Make a note, industry target has been unveiled. Big US banks to fight for instant payments […]
Nasdaq has bought International Securities Exchange (ISE), operator of three US equity options exchanges, and ISE’s holding company US Exchange Holdings, from Deutsche Börse for $1.1 billion. The agreement excludes ownership interest in Bats Global Market and in Digital Asset Holdings, which will continue to be owned by Deutsche Börse. Carsten Kengeter, CEO of Deutsche […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! D+H Corporation bullish on payments software business Do you hear it? That’s the sound of optimistic noises. ICE pours cold water on Deutsche Börse and LSE merger bid ICE ICE maybe, ICE ICE maybe. Out of Africa for […]
Nasdaq will replace Australian Securities Exchange’s (ASX) existing equities and equity options clearing technology platforms. ASX says it wants to consolidate its number of post-trade platforms and this latest deal forms a “significant element” of its tech revamp programme outlined in February 2015. Tim Thurman, CIO at ASX, says: “While we have announced that ASX […]
Korea Exchange (KRX), the securities exchange operator in South Korea, plans to launch a platform powered by blockchain to liven up the off-board trading market. According to The Korean Times, KRX has started “preliminary steps” to introduce the new platform connecting sellers and buyers to trade securities directly. “Though many steps remain before the system’s […]
Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform. JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC). JPX […]
New York Stock Exchange owner, Intercontinental Exchange (ICE), says it may make a rival bid for London Stock Exchange (LSE) – setting up a potential takeover battle with Deutsche Börse. ICE says an approach on the LSE hasn’t been made yet, but the speculation lifted LSE shares to a record high today (1 March 2016). […]
Spain’s Bolsas y Mercados Españoles (BME) has bought securities information provider Infobolsa from Deutsche Börse for €8.2 million in cash. The agreement also includes the acquisition of Infobolsa’s wholly-owned subsidiaries: Difubolsa (Serviços de Difusão e Informação de Bolsa) and Infobolsa Deutschland. Consequently, BME, through Infobolsa, will also become the owner of Open Finance, another Spanish […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Fiserv’s CUnify core processing system bags 25 US credit unions More good news for the US software vendor. IBM delivers blockchain-as-a-service for developers Code to joy… nearly 44,000 lines made available. Potential “merger of equals” between Deutsche Börse […]
