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Credit Suisse plans tech cost-sharing with another bank

Credit Suisse

Credit Suisse is talking with an unnamed bank about a cost-sharing project around technology as it looks to make savings. In an interview with the Financial Times, Tidjane Thiam, the bank’s chief executive, says its idea is at the “proof of concept” stage – and hints it may use an investor day in December to […]

Openfunds launches global standard for fund data interchange

The openfunds standard facilitates automated processing and dissemination of static fund data

Zurich-based non-profit organisation, openfunds, has created a global standard for the characterisation of investment funds. The goal of the new standard is to improve efficiency, transparency and reliability by eliminating potential sources of error and ambiguity during fund data interchange. Openfunds is now calling for a global adoption of the standard. The standard is published […]

Credit Suisse selects FIS Derivatives Utility

FIS

Credit Suisse has opted for FIS’s Derivatives Utility for its post-trade futures and cleared over-the-counter (OTC) derivatives operations and technology. The utility provides customers with derivatives clearing operations and technology services for trade clearing, trade lifecycle management, margin processing, brokerage, reconciliation and data management. John Dabbs, global head of prime derivatives services, Credit Suisse, says […]

Swiss banks and SIX plan national mobile payments platform

Swiss flag

Exchange group SIX and Switzerland’s five largest banks are in talks over a joint mobile payments platform for the country. SIX, retail chains Migros and Coop, and telecoms company Swisscom are planning to create a standardised digital payment system for consumers in Switzerland. A joint statement from the banks – UBS, Credit Suisse, Raiffeisen, PostFinance […]

Top-tier banks rally round R3 distributed ledger project

Rutter: the potential

Nine major global investment banks have formed a partnership to explore the potential of distributed ledger technology in financial markets. The project, led by financial technology company R3, aims to create early standards for the emerging technology that will make it easier and more efficient as it grows.

Credit Suisse dark pool accused of nefarious activity

Credit Suisse is the latest dark pool operator to stand accused of improper behaviour

Credit Suisse is facing allegations that its dark pool Crossfinder ripped off investors by providing unfair advantages for some participants while misleading others. The incident follows a long history of nefarious activity reported in various dark pools in recent years – and exposed the bank to charges of hypocrisy from market observers.

Taking stock in fixed income

Frustrated-trader

Fixed income markets have historically been a bastion of high-touch trading, with manual processes, large tickets and little standardisation. But as recent years have seen inventory slashed and balance sheets cut in face of rising regulatory pressure, finding liquidity has become more of a challenge. A group of banks are hoping to reinvigorate the market though a standardised messaging system.

Markit masses support for open messaging service

Peter Moss

Financial information services company Markit is aiming to create the largest financial markets messaging community and remove barriers to cross-market communication through its open messaging initiative and supporting technology, Markit Collaboration Services.

Credit Suisse sets sights on Middle East with Qatar joint venture

Credit Suisse is planning to make Doha a centre for its new asset management business, Aventicum

Credit Suisse is planning to form a Middle Eastern and international asset management join venture, Aventicum Capital Management, together with Qatar Holding.

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