NY DFS Proposes Regulation to Require Cyber-Security Programs The state of New York via the State Department of Financial Services (DFS) wants to require banks, insurance companies, and financial services institutions to “establish and maintain” a cyber-security program via a new regulation proposed by the DFS and Governor Andrew M. Cuomo. The impetus for the… Read More >>
Bats Exchange to Acquire Pioneering SEF
A pioneer in the push for swap execution facilities (SEFs), the Javelin SEF will likely become part of Bats Global Markets, according to an acquisition plan recently announced by Bats officials. Bats officials decline to reveal the financial details of the acquisition but say that the “deal is intended to accelerate Bats’ plans to offer… Read More >>
EBS Joins Thomson Reuters’ TRTN Post-Trade Network
EBS Clients Get STP via TRTN Foreign exchange (FX) trading platform EBS is now part of a post-trade network offering, the Thomson Reuters Trade Notification (TRTN), in an effort to offer EBS clients straight through processing (STP) support, officials say. EBS is joining more than 2,500 other publishers on TRTN, which Thomson Reuters officials say… Read More >>
ABN AMRO Clearing to Use Fidessa Execution Services
A clearing and financing services provider ABN AMRO Clearing (AAC) is working with trading systems vendor Fidessa to offer managed, cross-asset execution services to AAC clients via a new deal between them. The new link would provide AAC clients with low-latency access to more than 110 futures, options, equities and foreign exchange (FX) markets globally,… Read More >>
Omgeo Alert Settlement Utility Hits Milestone
Omgeo Alert, an online global database of account information and standing settlement instructions (SSIs), has hit a milestone with more than six million settlement instructions — a major step forward in its push to become the dominant SSI utility, say officials of the post-trade market infrastructure services provider the DTCC, which owns Omgeo. SSIs hold… Read More >>
ICAP Division Dives into Blockchain
The Post Trade Risk and Information (PTRI) division of interdealer broker ICAP reports that a recent proof of technology test for a blockchain-based distributed ledger for smart contracts is just the beginning for the firm’s exploration of the cutting-edge technology, say ICAP officials. The test conducted on February 26 involved 16 ICAP staff members, ICAP… Read More >>
BAE Profiles ‘World’s Most Dangerous Cybercriminals’
Six Types of Cybercriminal to Avoid BAE Systems, the London-based, multinational security company, recently released profiles of “six prominent types of cybercriminals” and detailed how they could hurt companies around the globe, officials say. Threat intelligence experts at BAE Systems have compiled a list, “The Unusual Suspects,” that has been created from “research that uncovers… Read More >>
Hong Kong Clarifies Rules for OTC Derivatives Trading
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) proposals on introducing mandatory clearing and expanding mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime is only the next stage of the territory’s staggered approach to implementing new derivatives rules. The actions were expected and sell- and… Read More >>
Fears Grow Over High-Impact Attack: DTCC Survey
Risk Managers’ Fears Grow Over High-Impact Event: Survey Fears over the threat of “a high-impact event” is increasing among risk managers, according to the latest DTCC Systemic Risk Barometer Survey. The new survey on risk trends among those in the financial services industry shows that 61 percent of risk managers “believe the probability of a… Read More >>
Industry Veteran Matsko to Lead Portware’s FX Push
Portware, which bills itself as the “first and only global provider of multi-asset trade automation solutions powered by artificial intelligence,” reports that foreign exchange (FX) industry veteran Christopher Matsko has joined the New York City-based vendor as head of its FX trading services. Matsko will help FX clients “navigate an increasingly complex regulatory environment… Read More >>
