The financial industry must work with regulators, market infrastructures and among itself to address the major issues it faces says Jamie Forese, co-president of Citi and chief executive of Citi Institutional Clients Group, during the opening plenary address at Sibos in Boston.
Banks from as far afield as Brazil, New Zealand and Singapore are among the candidates on the shortlist for the Banking Technology 2014 Awards, announced today, showing the continuing competitive edge regional institutions are gaining over the large international players through technology.
A sustained rally in frontier markets is leading an expansion of size and liquidity as investors seek opportunities that are not available in the developed or emerging markets, according to a new report by research house Aite.
Swiss post-trade company SIX Securities Services has allied with Belgium’s Euroclear Bank in a deal aimed at Swiss private banks and their high net worth customers.
The original concept of the ISO 20022 was to create a repository of data used in financial messaging to communicate business information of any type – and to be able to add any types of data that might arise in the future.
The ISO 20022 standard is 10 years old this year, but its roots go back to some five years before that, and the story of its development and adoption is likely to go on for many years in the future. The datum point is probably the publication in 1999 of a Green Paper from SWIFT called ‘Building Standards for Tomorrow’. The modest proposal in that document is that “the next generation of standards will be based on a structured and formal framework”.
Global financial markets are experiencing a paradigm shift as governments, regulators and participants recalibrate the processes and structures underpinning global finance. The challenge is to repair and remedy where needed, with dialogue between central banks, regulators and participants, but also to avoid creating fragmented markets or worse, unintentionally reintroducing risk.
The face of retail banking in the UK is changing. In July 2010, the sector witnessed something not seen in over 100 years – the launch of a new high street bank. And where Metro Bank led the way, new and non-financial consumer brands are following suit.
Building a single regional market is a goal for many groups of nations; however Europe’s development of a single settlement platform is the only effort to come to fruition.