Post-trade & ops

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ICE unit Bakkt to launch Bitcoin futures contracts next month

/wholesale

ICE unit Bakkt to launch Bitcoin futures contracts next month

Intercontinental Exchange's new Bakkt subsidiary has received the regulatory green light to start offering custody and physically delivered Bitcoin futures contracts.

Securities industry close to adopting APIs – SWIFT and BCG

/Post-trade & ops

Securities industry close to adopting APIs – SWIFT and BCG

A new joint SWIFT and Boston Consulting Group (BCG) report reveals that interest in application program interfaces (APIs) is rapidly increasing in the securities servicing industry and firms may leverage the technology to handle diversity of asset types.

Moody's acquires RiskFirst

/Post-trade & ops

Moody's acquires RiskFirst

Moody's Corporation is positioning to enter the institutional buy-side market with the acquisition of the UK's RiskFirst, a provider of risk analytics technology for asset managers and pension funds.

Deutsche Bank to spend €13bn on tech amid massive job cuts

/Post-trade & ops

Deutsche Bank to spend €13bn on tech amid massive job cuts

Deutsche Bank has announced swingeing job cuts as part of a radical overhaul of its operations that will also see it spend €13bn on new technology over the next four years.

Wells Fargo's Irish arm fined for regulatory breaches

/Post-trade & ops

Wells Fargo's Irish arm fined for regulatory breaches

The Irish central bank has issued a record fine to Wells Fargo for reporting failures by its Irish subsidiary, citing the bank's weak IT systems.

Regulators and politicians respond to Facebook's crypto plans

/Post-trade & ops

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

BoE issues cyber attack warning

/Post-trade & ops

BoE issues cyber attack warning

Banks would struggle to defend themselves against a state-sponsored cyber attack that corrupted their records over a period of months, according to a Bank of England (BoE) official.

UK fintech salaries on the rise - report

/Post-trade & ops

UK fintech salaries on the rise - report

Jobs in the UK's fintech sector have grown by 61% in the last year while demand for skilled workers has seen salaries rise by as much as 25% according to a recently published report.

Italy's banks to use DLT for reconciliations

/Post-trade & ops

Italy's banks to use DLT for reconciliations

The Italian Banking Association (ABI) has revealed that the country's banks will be using distributed ledger technology (DLT) to run its reconciliations as of March 2020, making it the first use of the blockchain among Italy's banks.

SIA and Colt win ECB tender for ESMIG connectivity

/Post-trade & ops

SIA and Colt win ECB tender for ESMIG connectivity

The European Central Bank (ECB) has awarded a tender to Italian payment processor SIA and telco Colt for the provision of connectivity services to the Eurosystem market infrastructures.

Nordic banks to cut compliance staff in favour of robots

/Post-trade & ops

Nordic banks to cut compliance staff in favour of robots

Two of the Nordics' biggest banks, Nordea and Danske Bank, expect to significantly reduce the number of staff employed in its compliance and financial crime departments and instead turn to robotics and artificial intelligence.

Blockchain benefits limited for retail banks - report

/Post-trade & ops

Blockchain benefits limited for retail banks - report

A report from management consultant McKinsey suggests that retail banks have been slower to adopt blockchain technology because they face more challenges in reaping the potential benefits.

Mega M&As fuel record growth in fintech deals

/Post-trade & ops

Mega M&As fuel record growth in fintech deals

A flurry of large M&A deals and the popularity of contactless payments have helped to create a record volume of fintech deals, according to a recent report, but also raised fears that the market may be overcrowded and reaching peak status.

Blockchain gets a bashing from Deutsche Bundesbank president

/Post-trade & ops

Blockchain gets a bashing from Deutsche Bundesbank president

Digital currencies, and their foundational blockchain backbone, have come in for a kicking from the president of Germany's central bank, who has characterized the former as a serious threat to the stability of the financial system, and the latter as no better than current technological solutions

KRM22 agrees acquisition of Object+

/Post-trade & ops

KRM22 agrees acquisition of Object+

KRM22, an investment vehicle created to undertake a roll up of software companies providing risk management tools to the capital markets industry, has agreed to acquire Dutch-based risk management and post-trade services group Object+ for around £3 million.

Up to a fifth of capital markets jobs at risk from automation

/Post-trade & ops

Up to a fifth of capital markets jobs at risk from automation

Four hundred thousand capital markets jobs could disappear over the next decade as advances in artificial intelligence and technology decimate the workforce, according to forecasts by consultancy Opimas.

Swift to test real-time cross border payments in Europe

/Post-trade & ops

Swift to test real-time cross border payments in Europe

Banks from France, Germany, Italy, Luxembourg, Russia and Spain have joined with Swift to test real-time gpi cross-border payments through the Eurosystem’s Target Instant Payment Settlement (Tips).

OpenFin names former Goldman Sachs MD Tim Dinsdale as European CTO

/Post-trade & ops

OpenFin names former Goldman Sachs MD Tim Dinsdale as European CTO

Fresh from a $17 million fundraising round, capital markets apps platform OpenFin has appointed former Goldman Sachs MD, Tim Dinsdale, as European chief technology officer.

Top banks to spend £50 million on digital coin project - Reuters

/Post-trade & ops

Top banks to spend £50 million on digital coin project - Reuters

Several of the world's largest banks are plotting a £50 million investment in a new digital cash settlement system, according to a report from Reuters.

Barclays and Wells Fargo lead $17 million funding round in OpenFin

/Post-trade & ops

Barclays and Wells Fargo lead $17 million funding round in OpenFin

OpenFin has won $17 million in funding from a clutch of top banks and VCs as it bids to build a new 'operating system of finance'.

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