Integral Also Launches iOS App Foreign exchange (FX) technology vendor Integral is now offering market data support for Bitcoin, Ethereum, Bitcoin Cash and Litecoin via its trading platform, the Open Currency Exchange (OCX), officials say. The expanded market data coverage will include the top pairings of: BTC/USD; ETH/USD; BCH/USD; and LTC/USD. Over the coming weeks,… Read More >>
U.K.’s Chancellor Takes Softer Brexit Stance
The official Brexit negotiations started earlier this week with the meeting of Brexit Secretary David Davis and his European Union counterpart Michel Barnier. However, the battle lines are being drawn more on the U.K. domestic side than continental shores as Chancellor of the Exchequer Philip Hammond broke ranks by calling for Britain’s softer departure from… Read More >>
London Could Lose 9,000 Bank Jobs in First Brexit Wave
Although the U.K. hopes to retain as many financial services activities as possible in the wake of Brexit, big banks are making contingency plans and could shift at least 9,000 jobs out of the country, according to a tally collated from Reuters. To date, 13 major banks including Goldman Sachs, UBS, JPMorgan, Deutsche Bank and… Read More >>
Broadridge Applies Blockchain/DLT to Proxy Process
JPMorgan, Northern Trust & Banco Santander Aid Broadridge Pilot This is the season for blockchain/distributed ledger technology pilots as Broadridge Financial Solutions, JPMorgan, Northern Trust and Banco Santander have announced that they been working on a pilot test project that uses blockchain technology to improve “global proxy vote transparency and analytics,” officials say. The… Read More >>
BlackRock Signs Trillion-Dollar Custody Deal with JPMorgan
BlackRock will be using JPMorgan’s Corporate & Investment Bank unit for custodial services, fund accounting, and fund administration for more than $1 trillion of client assets, shifting them from State Street Bank and Trust Co. The move, expected to take two years to complete, is widely seen as a major win for JPMorgan. But it… Read More >>
JPMorgan Services Fannie Mae’s MBS Holdings
JPMorgan Provides Trade Processing, Settlement and Recs Services Investment banking giant JPMorgan is supporting Fannie Mae’s mortgage-backed securities (MBS) holdings via the firm’s custody and fund services platform, bank officials say. JPMorgan officials say the bank has “successfully transitioned” for safe-keeping and settlement services for collateral backing Fannie Mae-issued MBS held in their Collateral Trust… Read More >>
Blockchain Project Tests Post-Trade Ops for Swaps
Barclays, Citi, Credit Suisse and JPMorgan with the help of Axoni and other vendors have been successfully testing since June post-trade processes based on blockchain/distributed ledger technologies and smart contracts that support over-the-counter (OTC) equity swaps. “Industry collaboration is key in driving blockchain innovation and Barclays is keen to remain at the forefront of this,”… Read More >>
Media Reports Say Misys Owner Mulling IPO
Misys, a 37-year-old banking and capital markets software systems provider, may be entering the public markets again, according to media reports about the matter. In mid-August, The Times of London, citing industry sources, ran with a story that Misys was getting ready to launch a £5.5 billion ($7.3 billion) listing via the London Stock Exchange…. Read More >>
Major Banks to Mentor FinTech Startups in Asia
FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
JPMorgan to Exit Most Government Securities Settlement Services
JPMorgan is exiting its narrowly focused, government securities settlement services business, which includes Treasury and agency bonds, ending support for approximately 30 clients, bank officials confirm. The clients affected use the bank’s broker-dealer channel and JPMorgan then uses the Federal Reserve’s securities transfer system. While some news outlets recently reported that JPMorgan would be leaving… Read More >>
