Trade execution

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/Trade execution

Crypto startup Uphold to buy broker-dealer

Digital money platform Uphold has agreed to acquire New York-based broker-deal JNK Securities, paving the regulatory way for it to start offering trading in a host of new crypto assets.

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Trainee trader sues UK broker for £10m over trading platform mix-up

A French day trader is suing UK broker Valbury Capital after it voided the €10m profit he had accrued using what he thought was a demo version of its trading software but which turned out be a live account.

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US Treasury fintech report to make regulatory recommendations

A much anticipated report from the US Treasury on regulatory reforms for the fintech sector is set to recommend the use of regulatory sandboxes and fintech charters at both a state and federal level.

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Competition watchdog probes Ion takeover of Fidessa

The UK's Competition and Markets Authority (CMA) has launched an investigation into Ion Investment Group's proposed £1.5 billion takeover of trading technology firm Fidessa.

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Instinet Europe falls to spear phishers

Instinet Europe has fallen victim to a spear phishing attack, giving hackers access to the broker's desktop network and compromising some client and employee information.

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Singapore to develop ethical code for AI and personal data use

Singapore's government has outlined plans to develop a governance programme around the use of artificial intelligence and personal data in its bid to become an international centre for new technology.

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Live: EBAday2018, day two

Payments professionals from across Europe are gathering in Munich this week for EBAday 2018, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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10,000 jobs could be lost to robots says Citi

US bank Citi has warned that it could shed half of its 20,000 tech and ops staff in the next five years due to the rise of robotics and automation.

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Live: EBAday2018, day one

Payments professionals from across Europe are gathering in Munich this week for EBAday 2018, hosted by the Euro Banking Association and Finextra. We're liveblogging events here.

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350 jobs to go as Deutsche Bourse allocates investment in new tech

Deutsche Bourse plans to spend EUR270 million on blockchain, big data analytics, cloud computing, as well as robotics and artificial intelligence, as part of a 2020 roadmap that will see 350 jobs cut to increase scope for new tech investments.

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Gmex and Digital Asset Group form blockchain JV

Trading and post-trade technology vendor Gmex Group is forming a joint venture with upstart blockchain outfit Digital Asset Group in an effort to bridge the gap between mainstream finance and the emerging DLT and crypto economy.

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Commerzbank FX transaction has big implications for blockchain in post-trade

The deployment of blockchain technology to streamline foreign exchange post-trade confirmation and matching has moved a step closer with the replication of an FX forward trade conducted by Commerzbank on behalf of thyssenkrupp across R3 Corda.

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Sberbank to test digital asset investment platform for ICOs

Sberbank and Russia's National Settlement Depository are to run an Initial Coin Offering in the Bank of Russia’s regulatory sandbox. Level One, a company that manages Moscow’s biggest commercial lecture hall, will be the issuer.

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Overstock unit and BOX prep security token exchange

The blockchain subsidiary of online retailer Overstock has teamed up with BOX Digital Markets to build a regulated security token exchange.

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IHS Markit to acquire Ipreo, sell off MarkitServ

IHS Markit is to acquire rival financial data firm Ipreo for $1.855 billion from private equity funds managed by Blackstone and the Goldman Sachs Merchant Banking Division.

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Cinnober plans cost reductions as diversification saps profits

Swedish capital markets software house Cinnober is planning costs reductions and a stake sale of one of its operating subsidiaries after reporting a slow start to the year and full-year 2017 losses of Skr97.6 million.

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Tel Aviv Stock Exchange plans blockchain securities lending platform

The Tel Aviv Stock Exchange (TASE) is working with Accenture to build a distributed ledger technology-based securities lending platform.

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Morgan Stanley to offer market insights on Alexa devices

Morgan Stanley is to offer voice-powered market insights and investment ideas available to clients using all Alexa-enabled devices.

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Sberbank and MTS issue first Russian bonds on a blockchain

Sberbank and telco MTS have implemented the first Russian issue of commercial bonds via smart contracts utilising a blockchain platform developed by National Settlement Depository.

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HSBC claims blockchain breakthrough for trade finance

HSBC and ING bank have announced the successful execution of a trade finance transaction using R3's Corda blockchain platform.