Post-trade & ops

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Isda trumpets progress in credit derivatives while regulators sound alarm

/Post-trade & ops

Isda trumpets progress in credit derivatives while regulators sound alarm

Strong progress has been made in speeding up post-trade processing and cutting the backlog of outstanding confirmations in the fast growing credit and equity derivatives markets, says the International Swaps and Derivatives Association (ISDA).

Failed Sepa transactions to cost banks EUR1.3bn

/Post-trade & ops

Failed Sepa transactions to cost banks EUR1.3bn

New research released by LogicaCMG indicates that the cost to banks of dealing with failed Sepa transactions could rise as high as EUR1.3 billion immediately following the introduction of the single euro payments area in January 2008.

JPMorgan Chase to acquire Xign

/Post-trade & ops

JPMorgan Chase to acquire Xign

JPMorgan Chase is to acquire US B2B financial settlements outfit Xign for an undisclosed sum.

Banks must buddy up to vendors to service large corporates

/Post-trade & ops

Banks must buddy up to vendors to service large corporates

Banks must partner with like-minded technology vendors if they are to meet the growing demands of corporate customers for improved supply chain integration capabilities, says market analyst firm TowerGroup.

Icap launches electronic securities lending platform

/Post-trade & ops

Icap launches electronic securities lending platform

UK interdealer broker Icap is pushing into the electronic securities lending market with the launch of a new screen dealing system, i-Sec.

Union Bank of India automates international payments with BankServ

/Post-trade & ops

Union Bank of India automates international payments with BankServ

Union Bank of India (UBI) has implemented the TurboSwift platform from San Francisco-based BankServ to automate its international payment operations.

Spending on OTC derivatives IT to hit $1.3bn in 2011 - TowerGroup

/Post-trade & ops

Spending on OTC derivatives IT to hit $1.3bn in 2011 - TowerGroup

Spending on OTC derivatives trading technology by institutional brokers will rise from $915 million in 2007 to $1.3 billion in 2011, a compound annual growth rate of 9.5%, according to the latest TowerGroup forecasts.

Interactive Data pays $25.3m for Xcitek market data assets

/Post-trade & ops

Interactive Data pays $25.3m for Xcitek market data assets

Interactive Data Corporation has signed an agreement to acquire the market data assets of New York-based Xcitek for $25.3 million in cash.

Fidelity buys into Asset Control; installs Lynch as CEO and underwrites Tap acquisition

/Post-trade & ops

Fidelity buys into Asset Control; installs Lynch as CEO and underwrites Tap acquisition

Boston-based Fidelity Ventures has taken an undisclosed majority stake in Asset Control, a Dutch provider of data management technology to financial services firms. Concurrent with the funding the vendor has acquired Vancouver-based reference data outfit Tap Solutions and installed Phil Lynch as CEO.

James Donovan quits Swift

/Post-trade & ops

James Donovan quits Swift

James Donovan has resigned from his position as head of the securities industry division at financial messaging network Swift.

ADP spins off brokerage business

/Post-trade & ops

ADP spins off brokerage business

ADP brokerage Services - a provider of investor communications and securities processing services to the wholesale financial markets - has been officially spun off from parent group Automatic Data Processing into a separate limited company, Broadridge Financial Solutions.

Need for speed ramps up invesment bank tech spend

/Post-trade & ops

Need for speed ramps up invesment bank tech spend

Total US capital market spending on advanced trading technology is expected to reach $860 million this year, rising to $1.3 billion by 2010, according to projections from analyst firm Tabb Group.

Financial technology spending on the rise in 2007

/Post-trade & ops

Financial technology spending on the rise in 2007

IT spending by wholesale financial services institutions has increased significantly this year, particularly on risk managment and payments systems, according to a global study by Datamonitor.

Icap seeks new acquisitions as e-trading volumes soar

/Post-trade & ops

Icap seeks new acquisitions as e-trading volumes soar

UK interdealer broker Icap, which bought the EBS electronic currency trading platform a year ago, says its electronic broking businesses have boosted full year profits and it is on the look out for further acquisitions.

UK watchdog to step up monitoring of commodities

/Post-trade & ops

UK watchdog to step up monitoring of commodities

The UK's Financial Services Authority is to step up its oversight of the commodities market in the wake of a substantial bull run which it claims has raised risk levels for all market participants.

Misys signs India's HDFC to Summit FT

/Post-trade & ops

Misys signs India's HDFC to Summit FT

India's HDFC Bank is implementing the Summit FT system from UK-based Misys which it will use to process interest rate derivatives trades.

SmartStream releases post-trade processing package

/Post-trade & ops

SmartStream releases post-trade processing package

UK fintech vendor SmartStream Technologies has launched TLM Trade Process Management, a software package designed to help financial firms automate post-trade processes across multiple asset classes, including OTC derivatives.

Regulators call for post-trade improvements in OTC markets

/Post-trade & ops

Regulators call for post-trade improvements in OTC markets

The Bank for International Settlements is calling on financial firms to introduce automated systems to cut confirmation backlogs in the over-the-counter derivatives markets.

Video of City charity striptease appears on YouTube

/Post-trade & ops

Video of City charity striptease appears on YouTube

Not content with photographs of their charity-inspired striptease at Bank Station appearing in local press, Icap broker Johnny Black and fintech headhunter Chris Mike have posted a video of their near-naked exploits on video-sharing Web site YouTube.

Almost a third of private banks lack back-office automation

/Post-trade & ops

Almost a third of private banks lack back-office automation

Sponsored research has identified a lack of automated post-trade management among Europe's private banking community. The survey by Scorpio Partnership has revealed 30% of private banks continue to manually operate trade execution, confirmation and affirmation.

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