The World Federation of Exchanges (WFE) is urging global authorities to draft new “rules, standards and guidelines” to govern fintech providers serving the securities industry, to facilitate “resilient, stable and robust” markets with level playing fields. The paper from the WFE, which represents including exchanges and CCPs, covers seven key areas and argues for corresponding… Read More >>
WFE Pushes for Human Firewall Against Cyber-Attacks
The World Federation of Exchanges (WFE) is taking a behavioral approach to the problem of establishing long-term, cyber-security compliance, officials report as they publish a guideline of best practices. A new white-paper lists best practices that are an alternative to “classroom-based refresher sessions,” and are intended to push a move toward “thinking more creatively about… Read More >>
EC Proposes Lighter Regulatory Load for Derivatives
The European Commission’s recently proposed changes to the European Market Infrastructure Regulation (EMIR) not only makes the legislation “simpler and more proportionate,” but also aims to lift some of the compliance burden on smaller financial services firms, corporates and pension funds. The amendments cover a broad range including streamlined reporting obligations, improvements to the quality… Read More >>
Squawker’s Equity Finance Platform Tackles Manual Processes
London-based vendor Squawker’s Equity Finance platform has completed its launch phase and has been deployed at six of the top 10 global investment banks in large part because the platform provides an alternative for investment banks that usually book trades via manual processes and over-the-counter (OTC) against interdealer brokers, officials say. Three more major banks… Read More >>
Deutsche Bundesbank & Deutsche Börse Launch Blockchain Initiative
Germany’s central bank, Deutsche Bundesbank and its national exchange Deutsche Börse, have joined forces to develop a functional prototype for a blockchain/distributed ledger technology (DLT)-based settlement of securities. Stefan Teis, senior vice president for group product and business development at Deutsche Börse, stresses that the “prototype is based on a conceptual study and not intended… Read More >>
E.U. Opens Deep Dive into Deutsche Börse-LSE Merger
While non-European authorities have given the thumbs up, European Commission officials have just announced that they are opening “an in-depth investigation” into the proposed merger between the Deutsche Börse Group and London Stock Exchange Group (LSE) to see if the combined organization would limit competition, putting the marriage in conflict with the EU Merger Regulation…. Read More >>
Credit Suisse, Ipreo, Symbiont, R3 Finish First Step for Syndicated Loan Blockchain
Blockchain Proof of Concept Effort Will Go On Credit Suisse, Ipreo, Symbiont and R3 have completed the successful initial stage of a project to demonstrate how blockchain technology can be used to improve the syndicated loan market, officials say. The proof of concept will continue throughout the year and will includes participation from agent banks,… Read More >>
Bank of England Blesses ICE Clear Europe as a CCP via EMIR
ESMA Also Blesses ICE Clear Europe The Bank of England (BofE) has just updated its list of U.K. authorized central counterparty clearinghouses (CCPs) to include the authorization of ICE Clear Europe Ltd., officials say. Part of the Intercontinental Exchange, Inc., ICE Clear Europe provides central counterparty clearing and risk management services for interest rate, equity… Read More >>
Brexit Could Put U.K. Clearinghouses in Limbo
The Brexit wars are heating up in the U.K. as the European Referendum draws closer but it is still too early to call the outcome. In the meantime, President Obama lent support to the remain or stay-in campaign during his recent visit to the U.K. But the leave party is doing its level best to… Read More >>
Commerzbank Signs On for Hosted Margining
A German firm, Commerzbank, is the first sell-side institution to use OpenGamma’s new, hosted margining service as the bank grapples with the rise in demand for pre-trade margin comparison requests, bank officials say. The hosted OpenGamma for Margining “comes at a time when Category 2 market participants are just two months away from joining Category… Read More >>
