The burgeoning wealth of Asia represents a huge opportunity for asset managers that can scale their businesses across the region, but it will place huge strains on firms’ operations, driving them to explore a new approach to outsourcing.
IntercontinentalExchange is to acquire Singapore Mercantile Exchange, including the venue’s clearing house, in a deal that will give it a foothold in Asia for the first time. SMX offers futures for metals, currencies, energy and agricultural commodities.
Standard Chartered Hong Kong has opened its first ‘digital’ branch, in which customers are greeted by giant screen TVs, the bank’s mobile apps in a special experience zone, and QR code scanning on an iWall, as well as e-signature pads and virtual queuing.
Citibank and mobile operator 3 Hong Kong have co-launched an NFC mobile wallet in the form of a sticker for iPhone and mobile app for Android.
China Financial Futures Exchange has signed a deal with Nasdaq OMX to strengthen cooperation and promote mutual development, in a move that will likely see Nasdaq technology expand into China.
Pioneer Islamic bank Islami Bank Bangladesh is planning a rapid expansion of its ATM network, using a platform for its debit cards and ATMs provided by tech firm ElectraCard Services.
China’s miraculous economic catch up since reform and opening up has created an unprecedented generation of consumers. The way this generation has adopted the on-line world in China is very different from that in the West.
Rakuten Securities is planning to become the first broker-dealer in Japan to use Chi-X Global’s smart order routing technology.
Standard Chartered has completed the rollout of its corporate actions platform across 39 countries in Asia, Africa and the Middle East, which the bank says will help clients cut costs and reduce their corporate actions risk exposure.
HSBC Bank China has completed its first electronic tax payment for a corporate client in Shanghai, in a move that the bank says is the first among all foreign banks I the city. The new tax payment service deducts funds in real time and enables customers to complete tax reports and process payments on the government’s tax system terminal from any location.
National Australia Bank in Hong Kong has installed Thomson Reuters’ Eikon desktop across its trading floor in a move that the bank says will increase staff productivity and drive up cross-market communication.
Adoption of alternative payment mechanisms is growing more rapidly in developing economies as they leapfrog the legacy infrastructures deployed elsewhere.
Slowly but steadily, financial institutions and their corporate clients are beginning to talk about growth again. Markets are gradually shifting from a purely defensive position; the Fed has spoken about tapering its quantitative easing programme; and many companies are putting expansion back on the agenda in response, writes Greg Murray.
Bangladesh’s International Finance Investment and Commerce Bank has chosen a new core banking platform from Misys as it plans to increase its presence in Bangladesh, Pakistan and Nepal.
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.
Lloyds Banking Group’s partnership with Standard Chartered Bank, announced this week, is likely to be the first of a series of such deals intended to allow the UK-focused bank to extend its client services overseas.
To mark Swift’s 40th Birthday, Banking Technology is publishing a series of interviews with staffers looking back over how the organisation has changed during their time there, and where they see it developing in the future. Today, Beth Smits, head of corporate affairs, Asia Pacific
The Singapore Exchange and Luxembourg-based Clearstream are planning to launch a collateral management service that should help customers use assets as collateral at SGX’s securities depository CDP.
Western Union has launched a new mobile money transfer service in Nepal, which aims to capitalise on the country’s massive inflow of cross-border remittance payments.
Financial services firms in Japan are taking early steps to prepare for new rules on OTC derivatives, according to a new survey carried out by fintech company Calypso in Tokyo.
Hong Kong Exchanges and Clearing has connected its equity and derivatives markets to MarketPrizm, a market data and infrastructure service targeted at low-latency trading firms.
Bangladeshi bank AB Bank has chosen ElectraCard Services to run its ATM network and process credit and debit cards, as the bank ramps up its drive to increase financial inclusion in the country.
Japan Exchange Group has migrated the Osaka Securities Exchange cash equities market and integrated it into the Tokyo Stock Exchange, marking an important stage in the unification of the two exchanges.
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.
The Bank of Korea has installed a new system from technology company Calypso that will help it better manage the country’s sovereign reserve.
Malaysia’s AmBank has installed a risk management tool from Murex, which it says will help the bank to meet regulatory and reporting requirements as well as improve its internal oversight.
Hong Kong-based CLSA has gone live on Swift’s Global Electronic Trade Confirmation solution for the automation of allocation and confirmation processes, becoming the first Asian broker to adopt the service.
Thomson Reuters has rolled out its Elektron managed data services in China and Australia. The service will be deployed in co-location with the Australian Securities Exchange in Sydney as well as through a data centre in Shanghai.
Swift’s innovation-focused spin-off Innotribe has announced the five Singapore finalists for its global startup challenge, which aims to help innovative new companies in financial services to develop their ideas and transform them into working businesses.
Bangladesh’s Sonali Bank has adopted a core banking system from Indian technology company Polaris, in a move that it says will transform it into the most modern bank in the country.
New Zealand’s NZX has joined BT Radianz Cloud, a network that connects to global markets, making it easier for international investors to access the New Zealand market, which is predominantly known for dairy products.
Java virtualisation specialist Waratek, one of the finalists in the Swift-backed Innotribe Challenge at this year’s Sibos in Dubai, has formed a partnership with Asia market access specialist Intralink to expand into Asia Pacific. As well as the Innotribe final, the Waratek CloudVM for Java offering has been selected for the Fintech Innovation Lab, based […]
Hong Kong Mercantile Exchange has joined the BT Radianz Cloud, a network that the exchange hopes will help better connect it to investors from the outside world.
The Australian Securities Exchange has set out plans to offer client clearing of OTC derivatives before the end of the year, in a move designed to provide new risk management controls to Australian investors.
Buy-side block trading venue Liquidnet has opened in Thailand, providing long-term institutional investors with another platform for trading the ASEAN market.
New Bangladeshi bank South Bangla Agriculture & Commerce Bank has begun operations using Temenos T24 as its core banking software.
US post-trade services utility the DTCC has appointed Peter Tierney as regional head of Asia, as the company continues its drive to be a global centre for OTC derivatives reporting.
Australian alternative trading system Chi-X Australia has appointed John Fildes as its new chief executive, taking over from Peter Fowler on 1 May.
Japan Exchange Group has set out plans to slash 8.5 billion Japanese yen (£60 million) from its annual operating costs by 2015 – representing 15% of the firm’s overall budget – as the exchange seeks to revitalise its equities and derivatives markets and take on its competitors.
The Depository Trust & Clearing Corporation will start operating a Japanese over-the-counter derivatives trade repository this month, flowing approval by the Financial Services Agency of Japan.
