Citibank and Deutsche Bank are throwing their weight behind the Neptune open-standard network for bond pre-trade, real-time “axe” indications of interest by joining the network and taking two seats on the Neptune board. The Neptune network offers a venue for dealers to share information with investors on the bonds that may be bought or sold,… Read More >>
CFTC to Stream Regulation AT Meeting on Nov. 4
CFTC to Mull Add-On to Automated Trading Rule The CFTC will hold an open meeting on Friday, Nov. 4, at 10 a.m. to consider a supplemental proposal to Regulation Automated Trading (Regulation AT), according to an announcement from CFTC Chairman Timothy Massad. The CFTC Open Meeting will take place at the lobby-level hearing room at… Read More >>
Deutsche Bank’s Revamp Spurs 1,000 More Layoffs
Deutsche Bank will be cutting “another 1,000 jobs” after reaching an agreement with its group and general works councils “on role reductions in Germany,” and as part of its Strategy 2020, which calls for the elimination of 9,000 people from its work force. News of the additional layoffs has gotten little attention as major media… Read More >>
Deutsche Bank Says ‘Nein’ to $14B Fine
Negotiations have begun between Deutsche Bank and the U.S. Justice Department in an effort to resolve civil claims related to the German bank’s issuance and underwriting of residential mortgage-backed securities (RMBS) and related securitization activities between 2005 and 2007, confirm Deutsche Bank officials in response to media reports. The Wall Street Journal broke the story… Read More >>
Exchanges, Clearinghouses, CSDs Embrace DLT with Caution
The world’s largest securities exchanges, clearinghouses and central securities depositories (CSDs) are exploring the possibilities of blockchain/distributed ledger technology (DLT). But concerns remain as to whether the technology will deliver the promised goods of a more streamlined and efficient world, according to a new survey conducted by the World Federation of Exchanges (WFE) and the… Read More >>
BNY, Deutsche Bank, ICAP Back UBS Digital Cash Push
BNY Mellon, Deutsche Bank, ICAP and Santander are throwing their support behind the Utility Settlement Coin (USC) concept from UBS and newcomer Clearmatics Technologies that could lead to digital cash-based payment and settlement operations that exploit distributed ledger technology (DLT). The USC effort is intended to result in “an asset-backed digital cash instrument implemented on… Read More >>
Deutsche Bank Names Wealth Management Co-Heads
Co-Heads Are Deutsche Bank Veterans Deutsche Bank has named Anke Sahlén and Daniel Kalczynski joint managers of Deutsche Bank Wealth Management (WM) in Germany, effective immediately. “They will pursue the goals of developing WM into the leading trusted expert advisor to wealthy clients and advancing Deutsche Bank’s market leadership in its home market,” according to… Read More >>
Monitor for Deutsche Bank to Help with Swap Data Compliance
The CFTC and Deutsche Bank are in agreement that a monitor is needed to help the German giant maintain and improve its compliance with its swaps data reporting responsibilities in the wake of charges by the regulator. The CFTC and Deutsche Bank officials jointly filed a motion last week with the U.S. District Court for… Read More >>
Deutsche Bank Fined $12M for Bad Squawk Box Talk
Deutsche Bank Securities Inc., an indirect, wholly owned subsidiary of the German institution, will be paying a $12.5 million fine for “significant supervisory failures” that allowed “confidential, price-sensitive information” to be spread among employees via the “hoot and holler” system of internal speakers or “squawk boxes” that populate trading floors and offices. Officials as the… Read More >>
Deutsche Bank GTB Endorses SWIFT Scope for Liquidity Reporting
Deutsche Bank’s Global Transaction Banking (GTB) unit has designated a third-party business intelligence (BI) solution, SWIFT Scope, as the preferred system for its global customers who will be required to report their levels of intraday liquidity to regulatory authorities. The SWIFT Scope software, offered via the SWIFT Business Intelligence unit of the SWIFT cooperative behind… Read More >>
