BankingTech


Bank AlJazira upgrades Saudi data centres with Siemon

Bank AlJazira has commissioned infrastructure specialist Siemon to supply the IT infrastructure for new data centres across Saudi Arabia as part of its strategy for growth and to secure technical advantage. Siemon was selected as the supplier of choice in a competitive tender with two other industry-leading manufacturers. According to Ahmed Al Hassan, head of […]

March deadline for code to tackle fixing of interbank lending rates

European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.

BATS trading errors highlight perils of technology arms race

US exchange operator BATS Global Markets’ revelation earlier this week that it may have accidentally breached best execution regulation on thousands of client transactions over a four-year period has been criticised by senior buy-side traders, who have expressed disappointment at the failure of exchanges to serve long-term investors.

IT pros willing to back the bankers

The finance sector has been plagued with bad press over the past five years, with little respite for those in the industry, but despite the issues faced by the sector, 59% of IT jobseekers would still consider entering the industry, writes Richard Nott, website director at CWJobs.co.uk.

Swift appoints Kennel to head market infrastructure efforts

Swift, the Brussels-based financial messaging consortium has appointed Juliette Kennel to the newly-created post of head of market infrastructures. Kennel, formerly head of standards, will be responsible for bringing together Swift’s activities in this area. Swift’s relationships with other market infrastructures is a focus for Gottfried Leibbrandt, who took over as chief executive last summer, […]

Citi targets “dangerous” global collateral shortfall

Citi has established a set of alliances with Clearstream and Euroclear Bank that it says will transform the way broker-dealers manage their collateral, freeing up precious resources as onerous new regulations in the US and Europe burden banks with tougher collateral requirements.

ConvergEx targets “dark” Asia Pacific capital markets

Western investment firms looking to trade in Asia Pacific should not rely on algorithms that have been ported from the US or Europe, according to William Capuzzi, president of trading technology company ConvergEx’s global execution business – instead, they should adopt dedicated tools built from the ground up.

JP Morgan trade platform promises joined-up thinking

JP Morgan has begun rollout of its new multi-asset class trading platform, JP Morgan Markets, which the firm says will make it easier for clients to bring together different elements such as research and analytics and convert them into successful trades.

Diebold debuts cardless ATM at CES

ATM maker Diebold has developed an ATM that lets customers withdraw cash without using a card – and saves the bank money in the process.