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Swift recruits CSDs for DLT post trade plans

Banking cooperative Swift has signed an MoU with seven central securities depositaries (CSDs) to explore how distributed ledger technology (DLT) can be used to improve post-trade processes such as corporate actions, proxy voting and trade processing.

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Fired Barclays trader testifies about use of FX algos

A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.

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Russia bids for blockchain success with latest banking launch

The largest commercial bank in Russia, Alfa Bank, is developing a new digital cash service where all transactions will be transmitted and cleared via the blockchain.

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Exchanges call for global fintech standards

As new technologies such as AI and DLT transform the capital markets landscape, the World Federation of Exchanges (WFE) has called on regulators to hold new fintech entrants to the same standards as established players.

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ESMA delays MiFID II rules on dark pool caps

The European Securities and Markets Authority (ESMA) has delayed the introduction of new rules on dark pool trading, a key part of its MiFID II initiative.

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MiFID II arrives: now the hard work starts

MiFID II,the biggest shake-up in financial regulation for a decade may have arrived, but for asset managers and brokers across Europe the work continues as the complexity and costs of full compliance begin to emerge.

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ECB warns of financial stability risks from bitcoin trading

Yves Mersch, an executive board member of the European Central Bank, has warned of the heightened threats to financial stability posed by banks and financial infrastructure providers building up positions in volatile cyrptocurrencies such as bitcoin.

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Finextra's 2017 in review

As Finextra pulls the shutters down on 2017, we take a look back at our most popular news stories, videos, and community engagement activities over the course of the past year. The site will re-open for business on 2 January 2018.

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Bloomberg adds altcoin data to Terminal service

Bloomberg is to provide forex traders with pricing on alternative virtual currencies, including Ether, Ripple's XRP and litecoin, alongside bitcoin charts as speculative investors pile into crypto-markets.

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ING bond traders get cognitive boost with Katana

ING is rolling out an artificial intelligence (AI) tool, Katana, designed inhouse to help traders decide what price to quote when a client wants to buy or sell a bond.

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France rewrites rules for trading on distributed ledgers

The French Government has cleared the way for the use of blockchain technology in the trading of unlisted securities, as it rewrites is rules to stimulate the innovation economy.

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Calastone to migrate funds network to blockchain infrastructure

Funds transaction network Calastone has announced plans to migrate the technology underpinning the core of its network to a private and permissioned blockchain infrastructure.

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Institutional investors will tame Bitcoin wild ride

David Coker, lecturer in Accounting, Finance and Governance at Westminster Business School and former vice president of Global Risk Management at Deutsche Bank, believes that the current instability in Bitcoin prices will not last when institutional investors enter the market.

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FCA slaps trader who outfoxed algos with £60k fine

A former Bank of America Merrill Lynch trader has been fined £60,090 by the Financial Conduct Authority (FCA) for tricking algorithms into buying loans.

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Wall Street heavyweights pilot DLT for equity swaps processing

Some of Wall Street's biggest names, including Goldman Sachs and JP Morgan, have completed a pilot that used blockchain smart contracts to manage equity swap transactions and post-trade lifecycle events.

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Ripple boss predicts central bank adoption of blockchain

Central banks will use distributed ledger technology (DLT) to settle high-value interbank payments within the next five to ten years, predicts the chief executive of Ripple.

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UK cryptocurrency exchange startup launches debit card for spending bitcoin

A UK startup is launching a cryptocurrency exchange that comes with a debit card that lets users spend their bitcoin anywhere in the country.

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SEC and exchanges in spat over surveillance system

A row has broken out between the US capital markets watchdog and a number of exchanges over the plan to impose a new market surveillance system on the US equities and options market.

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SIX establishes EUR43 million venture fund as part of strategic overhaul

Swiss financial infrastructure provider SIX is to overhaul its business and create a new EUR43 million venture fund as it faces up to new competitors, technology and increased downward pressure on margins.

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Lights go down at Tullett Prebon

Interdealer broker Tullett Prebon has suffered a network outage that has hit users of one of its voice broking businesses.