Bank of America-Merrill Lynch, Crédit Agricole, and Credit Suisse have been fined by the European Commission for their alleged involvement in a bond-trading cartel that also included Deutsche Bank, which escaped the fine because it reported the situation to E.U. officials. Late last month, the three banks were fined a total of €28,494,000 ($34,589,360) for… Read More >>
Bull Market Peaks in Q3 2018, Predicts BofAML Global Research
Mark Aug. 22, 2018 on your calendar. On that date, the bull market in the S&P 500 will become the “longest ever.” That’s one of the topline annual year-end predictions from Bank of America Merrill Lynch (BofAML) Global Research, Bank of America Merrill Lynch’s specialized information and investment unit focusing on providing advice to investors… Read More >>
Brexit-Born Bank Exodus Begins
Frankfurt and Dublin are emerging as the favorite hotspots for foreign banks as United Kingdom and continental European negotiators hammer out a Brexit deal by March 2019. Although many observers believe that the Brexit process will take longer than the earmarked two-year period, there has been a spate of announcements because banks, fund managers, insurers… Read More >>
Media Reports Say Misys Owner Mulling IPO
Misys, a 37-year-old banking and capital markets software systems provider, may be entering the public markets again, according to media reports about the matter. In mid-August, The Times of London, citing industry sources, ran with a story that Misys was getting ready to launch a £5.5 billion ($7.3 billion) listing via the London Stock Exchange…. Read More >>
Major Banks to Mentor FinTech Startups in Asia
FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
More Global Banks Test or Explore Blockchain
The bandwagon for blockchain and distributed ledger technology (DLT) is getting crowded as four major global banks have just completed a battery of tests in which the cutting-edge technology played a key role in credit default swap (CDS) processing. At the same time, key players in Japan led by Nomura Research Institute (NRI) officials are… Read More >>
BGC Partners Replaces CIO
Interdealer broker BGC Partners has hired Eric Hirschhorn as its new chief information officer (CIO), replacing BGC’s previous CIO Yevette Tierney, who “left the company to pursue other interests, effective immediately,” according to the statement. “I would like to acknowledge the outstanding work performed by Yevette and her team over the past eight years,” says… Read More >>
