Isis aims to breathe new life into US mobile wallet market

In Ancient Egyptian mythology, Isis used magic to resurrect her dead husband Osiris

The latest version of the telco-backed Isis mobile wallet service has been launched across the US, following 18 months of testing in Texas and Utah by owners AT&T Mobility, T-Mobile USA and Verizon Wireless.

US banks “not prepared” for Dodd-Frank swap rules

Rich: paying lip-service to the rules won't pay

A surprisingly high proportion of US banks are still not prepared to comply with Dodd-Frank’s regulations on swaps, despite the impending arrival of mandatory trading on swap execution facilities, according to Charley Rich, vice president of product management at tech firm Nastel.

Nasdaq signs algo testing deal with Thesys

The Nasdaq OMX Algo Testing Facility is intended partly to help reign in runaway algos

Nasdaq OMX is planning to launch a test facility for algo trading early next year. The Algo Test Facility will be developed jointly with Thesys Technologies, a subsidiary of Tradeworx,

Sapient rolls out FATCA compliance service

FATCA obliges banks to report information on their US customers to the IRS

Sapient Global Markets has released a suite of software and services designed to help companies meet FATCA, the controversial new US regulation that obliges banks to report their US customers so that they can be taxed.

US-Europe derivatives rulemaking deal “falls at first hurdle”

Anthony Belchambers

Senior financial industry executives have expressed disappointment at the failure of the US and European securities regulators to realise a deal over derivatives reforms and swap execution facilities, the new category of US execution venues brought in under the Dodd-Frank Act.

Race for speed intensifies as HFT goes global

Every microsecond counts in the race for trading supremacy

Trading firms need to upgrade their technology as often as every three months or face getting left behind by the ferocious pace of competition, according to specialists behind the HFT industry’s breakneck expansion into the world’s emerging markets and untamed asset classes.

Foreign money transmitters face state-by-state regs in the US


Some European money transmitter companies are learning what insurance carriers from outside the US. learned years ago — the country is a nightmare of financial regulations that can differ sharply from state to state. And European companies that are doing business in individual states probably need a license from that state.

“Problematic” US shutdown causes SEF blues at the EU


The European Commission has expressed concerns that the US government shutdown is preventing a deal between the EU and US regulator, just as new swaps rules come into force for firms based both inside and outside the US.

Swap trading reforms hit the rocks as CFTC’s O’Malia recommends delay

O'Malia: delaying the October 2 deadline makes sense

As CFCT commissioner Scott O’ Malia calls for more time for SEF reforms to be implemented, senior market observers are concerned that the new rules will not only fail to meet their 2 October deadline, but will also hurt ordinary market participants and increase systemic risk rather than reduce it.

US local banks sign up to Temenos T24 core banking cloud

US-based Clare Bank and Farmers Exchange Bank have adopted cloud banking

US banks Clare Bank and Farmers Exchange Bank have chosen to install cloud-hosted core banking services from vendor Temenos, in a deal that the banks say will help them reduce costs and roll out products to customers more easily.