Financial and energy trading and risk management vendor OpenLink has announced that Bank of the West has implemented OpenLink’s Findur solution for its capital markets and treasury operations, officials say. The implementation at Bank of the West, a subsidiary of the BNP Paribas Group, included “a number of workflows to automate and facilitate both pre… Read More >>
Can Scandal Spur Global Regulatory Harmony?
Something surprising appears to be underway behind two major financial crime stories that broke over the past several weeks – regulators and law enforcement officials domestically and internationally can work together for positive results. To recap, a coalition of sorts joined forces to bring in alleged “Flash Crash trader” Navinder Sarao, a British futures trader…. Read More >>
CFTC’s ‘Flash Crash Trader’ Case Hits Home
The CFTC’s recent enforcement action against a U.K. futures trader charged with spoofing trades and contributing to the 2010 Flash Crash raises as many questions as it answers, but could nonetheless prove a solid first step toward preventing this type of behavior in the future, industry observers say. On April 21, British authorities, acting at… Read More >>
Survey: Asian Firms Need More IT for Wealth Management
SS&C Technologies Holdings, Inc., a Windsor, Conn.-headquartered provider of financial services software and software-enabled services, reports that a survey examining wealth management operations and technology in Asia has found that “banks in Asia do not have the technology to meet high net worth customers’ reporting and analytics demands,” according to an SS&C statement. Specifically, the… Read More >>
Thalēs Forms Advisory Board
New York City-based Thalēs Trading Solutions, a U.S. CFTC- and National Futures Association-registered introducing broker founded in 2012, reports the formation of an industry experts advisory board. The board consists of “professionals from various segments of the financial services industry including, institutional investors, fund of funds, family offices, hedge funds, commodity trading advisors, as well… Read More >>
Q&A: Five Minutes with Timothy Massad
Editor’s Note: In a video interview with FTF News, the chairman of the CFTC discusses the regulator’s priorities, the recent Flash Crash enforcement action, data management and reporting issues. This is a transcript of the video interview, which has been posted online. Q: Everyone is telling you what the top priorities are for the CFTC. What… Read More >>
CFTC to Extend Relief for Swap Trade Errors
Speaking at the DerivOps North America conference this morning, CFTC Chairman Timothy Massad announced his agency will be issuing no-action letters providing relief for regulatory requirements concerning erroneous swap trades and swap trade confirmations. Massad said the relief is part of the CFTC’s ongoing efforts to ensure that post-financial crisis reforms in the derivatives markets… Read More >>
Is Hillary’s New CFO a Nod to Elizabeth Warren?
Hillary Clinton has tapped former regulatory firebrand Gary Gensler as her campaign’s chief financial officer (CFO), a move that could signal there’s bite to the populist bark her campaign has engaged in recently. As the former chairman of the CFTC from 2008 to 2013, Gensler led the charge among regulators in implementing the reforms outlined… Read More >>
CFTC Charges U.K. Firm Played Key Role in Flash Crash
The CFTC is bringing enforcement actions against an individual and his firm for allegedly contributing to the May 6, 2010 Flash Crash, according to the regulator. The CFTC complaint charges U.K. resident Navinder Singh Sarao and his firm Nav Sarao Futures Limited PLC with “unlawfully manipulating, attempting to manipulate, and spoofing — all with regard… Read More >>
GMS Joins Misys InFusion Partner Program
FinTech vendor Misys has inked an agreement with Global Market Solutions (GMS) to become a member of the InFusion Partner Program, officials say. GMS provides expertise in implementation and integration projects around financial software for a range of activities, including risk management, IT architecture and others. “Global Market Solutions has many years of experience in… Read More >>
