Barclays fined again for “widespread” failure to keep records

Barclays has been fined for its failure to keep electronic records

Barclays has been fined $3.75 million by the US Financial Industry Regulatory Authority for its failure to keep electronic records, including emails and instant messages, which are required by law. The failure is the latest in a string of recent fines for the bank.

Nasdaq OMX Treasuries dark pool will revitalise bond trading

Chuang: fixed income is the least regulated asset class in capital markets today

Electronic fixed income trading, one of the last major asset classes traded by humans, could take a big step forward when a new Nasdaq OMX dark pool trading venue goes live next year.

Credit Agricole CIB outsources US IT in multimillion deal


Credit Agricole CIB has signed an outsourcing deal with Genpact, in which the technology firm will help the bank by providing its IT development and maintenance, production support, infrastructure management and user support in the US.

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.