Post-trade & ops

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Finextra Q&A: Ben Milne, CEO, Dwolla

/Post-trade & ops

Finextra Q&A: Ben Milne, CEO, Dwolla

Ben Milne, who founded Dwolla in 2008 after growing frustrated with high credit card fees, talks to Finextra about America's slow move towards faster payments, his firm's foray into the exchange world, the blockchain, and the idea of being bought by Apple.

Bank of Canada ponders bitcoin's effect on monetary policy

/Post-trade & ops

Bank of Canada ponders bitcoin's effect on monetary policy

The rise of bitcoin could leave central banks struggling to implement monetary policy and unable to act as lenders of last resort, the Bank of Canada's senior deputy governor has warned.

Overstock explores spin off of cryptotrading unit

/Post-trade & ops

Overstock explores spin off of cryptotrading unit

Online retailer Overstock is preparing to split off its blockchain trading subsidiary Medici, after revealing that it spent $8 million on the business this year, pushing the company into the red for the first time in nine successive quarters.

Tullett Prebon to acquire Icap's hybrid voice broking and information assets

/Post-trade & ops

Tullett Prebon to acquire Icap's hybrid voice broking and information assets

Tullett Prebon is to acquire Icap's hybrid voice broking and information businesses for about £1.1 billion in a reverse takeover deal.

Pressure builds to delay MiFID II reforms

/Post-trade & ops

Pressure builds to delay MiFID II reforms

Pressure is mounting on the European Commission to postpone the implementation of securities market reforms under MiFID II by a year, as banks and brokers struggle to adapt their IT systems to meet the 2017 timetable.

Deutsche Bourse and Markit lend backing to capital markets fintech fund Illuminate

/Post-trade & ops

Deutsche Bourse and Markit lend backing to capital markets fintech fund Illuminate

Illuminate Financial, a fintech venture fund for the capital markets industry, has closed its first round of capital raising with the support of Deutsche Börse and Markit.

Thomson Reuters brings FX transaction venues onto single desktop

/Post-trade & ops

Thomson Reuters brings FX transaction venues onto single desktop

Thomson Reuters has put all of its foreign exchange transaction venues onto one platform in a move it says creates a single point of access to the largest collective independent pool of FX liquidity.

Dwolla enters exchange world through CME Group deal

/Post-trade & ops

Dwolla enters exchange world through CME Group deal

Dwolla is expanding its scope through a deal with CME Group to provide on-demand payment capabilities for clearing and settlement at the exchange operator.

ASX considers replacing clearing and settlement system with blockchain

/Post-trade & ops

ASX considers replacing clearing and settlement system with blockchain

The Australian Securities Exchange (ASX) could replace its clearing and settlement system with a blockchain-based alternative.

ICE to buy Interactive Data for $5.2bn

/Post-trade & ops

ICE to buy Interactive Data for $5.2bn

Intercontinental Exchange (ICE) has agreed to buy Interactive Data Corporation (IDC) from its private equity owners for $5.2 billion in cash and stock.

UK government invests £10m in distributed ledger technology research

/Post-trade & ops

UK government invests £10m in distributed ledger technology research

The UK government is pumping another £10 million into fintech research as it explores the opportunities presented by the distributed ledger technology behind bitcoin.

ECB posits combination of Target2 and T2S on single platform

/Post-trade & ops

ECB posits combination of Target2 and T2S on single platform

The European Central Bank is contemplating a merger of the Target2 real-time gross payment system with the T2S securities settlement mechanism, providing a single platform for the processing of cash and securities across the Eurosystem.

Capital markets facing reference data challenges

/Post-trade & ops

Capital markets facing reference data challenges

More than two thirds of capital markets firms say that data quality is hitting costs and driving them to look into replacing siloed data management systems, according to a survey from Accenture and Greenwich Associates.

Big banks team on reference data utility

/Post-trade & ops

Big banks team on reference data utility

Goldman Sachs, JPMorgan Chase and Morgan Stanley are teaming with SmartStream to create a new reference data utility, providing validation across all asset classes while sharing operations and technology costs.

Symphony strikes a chord with Google Alphabet

/Post-trade & ops

Symphony strikes a chord with Google Alphabet

Google Alphabet is to participate in a new round of funding for bank-backed messaging platform Symphony, valuing the startup at $650 million.

Nomura investigates distributed ledgers; Fidelity joins Irish blockchain hackathon

/Post-trade & ops

Nomura investigates distributed ledgers; Fidelity joins Irish blockchain hackathon

Nomura Securities is to investigate the use of distributed ledger technology in a joint project with IT supplier and consultancy The Nomura Research Institute.

More global banks back blockchain collaboration plan

/Post-trade & ops

More global banks back blockchain collaboration plan

An initiative to create a set of global standards for the use of distributed ledger technology in financial markets has picked up momentum, with another 13 major banks - including BofA, Deutsche Bank and HSBC - throwing their weight behind the plan.

Large banks could save $4bn per annum by creating a trade processing utility - Broadridge

/Post-trade & ops

Large banks could save $4bn per annum by creating a trade processing utility - Broadridge

Large banks could save up $4 billion each year by adopting a shared utility model for trade processing, according to a study by Broadridge.

Isda bids to build derivatives symbology standard

/Post-trade & ops

Isda bids to build derivatives symbology standard

The International Swaps and Derivatives Association is working with a consortium of 18 buy-side and sell-side institutions to create an open source standard derivatives product identification system.

Saxo opens trading infrastructure to the API economy

/Post-trade & ops

Saxo opens trading infrastructure to the API economy

Saxo Bank is to give traders and developers access to its trading infrastructure via a new Rest-based open API, ushering in a new era of collaborative innovation.

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