All articles by : Elliott HolleyRSS

Kynetix kicks off blockchain commodities consortium

Kendall:

Post-trade technology company Kynetix has launched a blockchain consortium, focused on using distributed ledger technology in commodities markets. The move comes as financial institutions increasingly explore ways to integrate the blockchain concept into mainstream financial services.

One in five UK bank accounts hit by cybercrime

cyber_crime_Monday

One in five UK consumers (21%) have had personal details stolen and their bank accounts used to buy goods and services as a result of a cyber security breach, according to new research from business advisory firm Deloitte.

FIX adopts open access mechanism for trading applications

Northey:

Non-profit organisation the FIX Trading Community has started posting its projects on developer repository GitHub, as part of a drive to get all of the important resources freely available in one place using a single sign-on. The move was done to encourage wider access and to speed up the development of standards for high-performance trading applications.

Correspondent banking faces ‘existential crisis’ warns PwC

Barclays' closure of correspondent accounts was discussed in the House of Commons

De-risking, motivated by short-term risk-reward calculations, should not be allowed to kill off one of the cornerstones of the global financial system. Rather than abandon correspondent banking relationships, banks should be thinking about investing in and automating their risk controls, according to a new whitepaper by PwC.

Singapore Exchange and EBS Market to build bridge between FX OTC and futures

Singapore's SGX and EBS Market are targeting OTC business

The Singapore Exchange is to launch FX block futures on ICAP’s FX platform EBS Market, in a deal the two companies say will bridge the FX OTC and futures markets. The move comes as regulators around the world seek to move as much trading activity towards cleared platforms as possible, as part of the ongoing G20 reform agenda.

SIA sets sights on German P2P mobile payments market

SIA says Jiffy will unify German P2P mobile payments for the first time

Italian payments company SIA is expanding its P2P service Jiffy into Germany, together with IT firm GFT Technologies. The move is part of SIA’s plan to roll out real time money transfer via mobile phone to 400 million European current account holders.

Distributed ledger adoption in securities will split front-to-back

Peter Randall believes that distributed ledger will bring big changes

Either the distributed ledger is the greatest revolution in financial services for a generation, or it will make little difference to anything, according to the strongly divided opinions expressed by speakers at the Mondo Visione Exchange Forum in London last week.

BT adds Volante messaging tools to Radianz cloud

BT Radianz says the new technology will improve the efficiency of clearing

Financial network BT Radianz has added Volante Technologies’ tools to the BT Radianz Cloud, in a move the two firms say will improve the reliability of clearing, settlement and payment transaction processing while cutting costs.

Data at heart of efforts to rebuild trust — but don’t expect miracles

Trust in financial services is a perishable commodity

Trust – or more often, the lack of it – has become a recurring theme in financial services over the last few years. But if financial institutions really wanted to rebuild trust, they might start by looking at some of the safety improvements made by other industries such as the aviation industry, many of which rely on data, according to speakers at the Mondo Visione exchange forum in London.

EC admits MiFID II delay is ‘necessary’

The European Commission has admitted it has concerns about MiFID II

The European Commission has acknowledged that further delay to MiFID II may be ‘necessary’, following a letter from ESMA which said it would not be possible to implement the legislation in time. The delay follows an earlier setback in May and means the new rules could be delayed until January 2018.

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