LSE’s Borsa Italiana division buys Pro Mac

Borsa Italiana, a subsidiary of the London Stock Exchange Group, is paying 5.15EUR million to acquire 94.4% of Pro Mac, the market dedicated to Italian small and mid-cap companies which is currently owned by 22 shareholders including leading Italian banks and associations. Borsa Italiana already owned 5.2%of Mercato Alternativo Del Capitale and managed the market […]

FSA fines Goldman £17.5m for failing to keep them informed about ‘Fabulous Fab’

The Financial Services Authority has fined Goldman Sachs International £17.5 million for breaching FSA Principles. The fine relates to the Abacus 2007-AC1 synthetic collateralised debt obligation and the activities of trader Fabrice Tourre, the self-styled ‘fabulous Fab’, who sold the toxic CDOs far and wide, damaging RBS among many other firms. The fine is technically […]

Activ feels the need for speed: signs proximity hosting deal with Interxion

Activ Financial, a provider of managed market data solutions, is to house its ticker plant and aggregated market data feeds at Interxion’s City of London data centre to improve latency. The co-location deal gives existing and new customers in Interxion’s financial hub immediate access to Activ’s suite of market data solutions, including the ActivFeed, ActivFeed […]

Odyssey expands Glasgow development centre

Odyssey Financial Technologies, a provider of front- and middle-office software for the private banking and wealth and asset manager sectors, is to double the size of the development centre it opened only six months ago in Glasgow. The centre currently employs 10 software developers and 11 software testers, but a further 21 technologists will be […]

London to Frankfurt fibre optic route opened by euNetworks

A new ultra low latency network route has been opened by euNetworks from London to Frankfurt. Delivering sub-nine millisecond roundtrip performance and direct exchange-to-exchange connectivity, it uses fibre optic cabling. The new route is the latest addition to the firm’s financial services network, which also includes a Slough to London route to cover the Chi-X […]

Appointment: New FX product manager at RBC Dexia

Manoj Ketkar is taking over as Director of Foreign Exchange Product Management at RBC Dexia. He will be based in London, as part of the Markets, Products & Services division, and will report to Morgan McDonnell, Head of FX Markets and Product at RBC Dexia. Ketkar joins from HSBC where he spent four years, most recently […]

New chief executive at Mi-Pay

Mobile money service provider, Mi-Pay, is appointing Allan Jakobsen as its new chief executive. The experienced telco operator is being recruited to support an aggressive expansion drive as the vendor seeks to find ‘white label’ outsourcing customers and mobile remittance clients at banks, mobile phone operators and other users, in what is a rapidly expanding […]

Aspect Enterprise Solutions results show strong growth and a near doubling of profits for first half of the year

The Software-as-a-Service commodities trading and risk management vendor, Aspect Enterprise Solutions (AES), is reporting record results for the first half of the year. Revenues went up by 20% in Q1-Q2 2010 and profits were up 43% over the same period last year. Bookings for the first six months of 2010 were in excess of $10.5 […]

IFA fined by FSA for pension advice failings

The Financial Services Authority has fined Moneywise £19,600 for failing to have sufficiently robust compliance arrangements in place for the investment advice it gave customers using wrap around platforms and discretionary portfolios in the pension arena. The UK watchdog’s investigation found that the independent financial advisor (IFA) did not ensure its compliance arrangements evolved as […]

Security: Battling the bots

The use of hijacked PCs by criminals to create "botnets" that can harvest online credential has been known for some time, but the scale of these operations was revealed recently – along with the fact that the UK is the main source of infection. During the summer, a very sobering announcement was made by internet […]