Swedish post-trade technology provider Cinnober is spinning off its real-time, clearing business into a dedicated separate subsidiary to provide client clearing for large international banks. It is currently looking to build a management team and hire a CEO to take it to the next stage. Cinnober provides technology for trading and clearing venues across the… Read More >>
SEC to Explore DLT at Nov. 14 Fintech Forum
Second SEC Panel Focuses on Clearing and Settlement SEC officials and industry participants will explore distributed ledger technology (DLT) and other IT innovations impacting trading, settlement and clearing via a panel session during the regulator’s Fintech Forum, slated for Nov. 14, at the SEC’s headquarters in Washington, D.C. The forum, which is open to the… Read More >>
LSE, Deutsche Börse Juggle Options to Save Merger
It is unclear whether the London Stock Exchange’s plans to sell its French clearing unit — LCH SA — will appease the E.U. regulators who have launched an extensive probe into its €24 billion ($26.9 million) merger with Deutsche Börse. However, there will be plenty of interest especially from Euronext, which is a well-known opponent… 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 >>
Robo Advisors Take Japan by Storm
Robo advisors are not only taking the Western world by storm but are also infiltrating Asia, most notably in Japan. Although these countries share some of the same demographic and generational themes, a new report by market research firm Celent — “Fintech and Robo Advisors Booming in Japan” — found that cultural variations are shaping… Read More >>
SEC Rewards Whistleblower with $22 Million
SEC Awards a Total of $107 Million to Whistleblowers The SEC has given a whistleblower “more than $22 million” for a “detailed tip and extensive assistance” that allowed the regulator to halt “a well-hidden fraud at the company where the whistleblower worked,” according to officials. “The $22 million-plus award is the second-largest total the SEC… Read More >>
FTF Focus Spotlights the 2016 FTF Awards Winners
For the sixth year in a row, Financial Technologies Forum (FTF) sponsored the FTF News Technology Innovation Awards competition to help securities industry professionals shine the spotlight on the outstanding companies, individuals and industry groups that have achieved excellence in post-trade operations. The key winners for 2016 are featured in the special Awards Issue… Read More >>
ICE Clear Credit Hits $1B Mark for Single CDS
The Intercontinental Exchange (ICE), owner of the New York Stock Exchange, other exchanges and clearinghouses, announced that ICE Clear Credit has surpassed $100 billion year to date in gross notional cleared for client accounts for single name credit default swaps (CDS), officials say. This marks a 200 percent increase over 2015. The ICE Clear Credit… Read More >>
BarCap to Pay $2M in CFTC, FINRA Fines
Barclays Capital, the investment banking arm of the London-based banking multinational, has been hit with $2.1 million in fines for various reporting, clearing and trading violations, and for related supervision failures. Those penalties include an $800,000 fine from the CFTC and a $1.3 million fine from the Financial Industry Regulatory Authority (FINRA). FINRA fined BarCap,… Read More >>
Clearing Relief Comes for Small Firms in Europe
Although larger financial services firms or so-called “Category 1” players jumped out of the over-the-counter (OTC) derivatives mandatory clearing starting gate on June 21, 2016, smaller users or “Category 3” firms could be getting a reprieve and see their start date delayed from 2017 to 2019. The deadline has been extended by European Securities and… Read More >>
