Nasdaq Inc. is acquiring Verafin, based in Canada, and its set of related “anti-financial crime management products.” These related products use “data analytics, machine learning, and visualization and investigation tools.” The Nasdaq platform itself is widely known as the first electronic exchange, and the goal of this acquisition, according to a statement, is to deploy… Read More >>
Instinet Fined for Allegedly Defying Market Access Rule
Institutional agency-only broker Instinet, LLC has been censured and fined a total of $1.575 million for alleged violations of various provisions of the market access rule (15c3-5 of the Securities Exchange Act of 1934), and related exchange supervisory rules. Instinet, founded in 1969, is a Nomura company. Nomura describes itself as an “Asia-headquartered financial services… Read More >>
SEB & Nasdaq to Create Mutual Fund Blockchain
Swedish financial services group SEB, which has total assets of SEK 2,777 billion ($341 billion), and the Nasdaq Stock Market are joining forces to develop a prototype for a mutual fund trading platform based on the vendor Chain Inc.’s blockchain ledger. The aim is to modernize and increase efficiency in the processing of purchases and… Read More >>
LSEG-Deutsche Börse Breakup Paves the Way for Other Suitors
The marriage of the London Stock Exchange Group (LSEG) and the Deutsche Börse was always on shaky ground despite the participants hoping that this time they would be able to finally walk down the aisle after two failed attempts. However, this was not to be and the European Union competition regulators broke up the union…. 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 >>
