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CFTC commissioner attacks swaps regulation and proposes alternative agenda
Giancarlo:

US Commodity Futures Trading Commission Commissioner J. Christopher Giancarlo has condemned the CFTC’s implementation of swaps trading regulation reforms, describing its approach as highly over-engineered, disproportionately modelled on the US futures market and biased against both human discretion and technological innovation.

North American bank IT spending climbs as firms invest in external services
North American banks are investing in IT - much of it external

Banks in North America are ramping up IT spending on retail banking services and digital channels this year, with total IT spend expected to reach $64.8 billion by 2016, according to a new report by analyst firm Celent. The figures represent a 4.5% increase this year, as financial institutions increasingly turn to external software provider and specialists to bolster their abilities.

BNY Mellon and State Street in securities lending collaboration with Eurex Clearing

BNY Mellon and State Street have announced a collaboration with Eurex Clearing, the subsidiary of Deutsche Börse Group, to enhance the Eurex service to meet the needs of beneficial owners, and explore expanding its geographic reach into the US.

Polish mobile payments platform prepares for launch with six banks

A new bank-run mobile payment service is set to launch in Poland next month, following collaborative efforts between six Polish banks. The new service will allow customers to make payments in stores and online, withdraw cash and send P2P transfers, all using their mobile phone.

RMB breaks into top five world payments currencies

The Chinese renminbi has become one of the world’s top five payments currencies, according to new figures released by Swift. The currency, first introduced to foreign investors in 2007, overtook the Canadian dollar and the Australian dollar in the last two months of 2014 to reach the top five.

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Comments
A winning mobile strategy
Phil Slavin is

The mobile revolution is taking the financial services industry by storm. In less than five years it is predicted that the number of mobile phone owners using their device for banking purposes will double to over 1.75 billion. Banks cannot ignore the implications of what this means to their future business models. A mobile-first approach will be essential in leading the way.

Investment banks can benefit from online intelligence
Emmett Kilduff is

It’s no secret that more bulge bracket trading desks are turning to online intelligence – predominantly social media – to obtain breaking news and views ahead of traditional wires. Yet, with constant pressure to get the edge over competitors, other departments of major investment banks will start following the trading floor’s lead.

Features
Taking care of business
Paul Fox

With a string of client projects in flight, the immediate effects of the financial crisis weren’t a problem for Dublin-based Information Mosaic, but as projects that had run for two or more years started coming to an end, things got a little tougher. Fortunately, the company has one major shareholder that has both funds and a long-term view …

Orchestral manoeuvres
Gurle:

When first reports of an integrated communications project that had attracted a $66 million investment from a consortium of banks led by Goldman Sachs appeared last year, there was an element of cloak and dagger about the enterprise. The truth is both more prosaic and more interesting according to David Gurle, chief executive and founder of the company behind it.

Video
Banking Technology Readers’ Choice Awards 2014 – Multifonds
oded-weiss-awards-winner-2014.png

Oded Weiss, chief executive of Multifonds – winner of the Best Post-Trade Processing Product category in the recent Banking Technology Readers’ Choice Awards 2014 – talks to editor David Bannister about the advent of the AIFMD and the quest for growth in the funds management industry.

SGGTB: corporates and transaction banking
SOCGEN2ScreenGrab

Pascal Auge, head of global transaction and payment services, Societe Generale Global Transaction Banking discusses why transaction banking has become important for corporates and what services and solutions they are looking for.

Industry Focus
Across the spectrum: ISO 20022 perspectives
standard forum logo CMYK

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.

ISO 20022: the beginning of the future?
Swift

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”.

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