Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

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).

19 April 2007

News/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.

19 April 2007

News/Post-trade & ops

JPMorgan Chase to acquire Xign

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

19 April 2007

News/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.

17 April 2007

News/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.

16 April 2007

News/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.

05 April 2007

News/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.

05 April 2007

News/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.

04 April 2007

News/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.

04 April 2007

News/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.

03 April 2007

News/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.

02 April 2007

News/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.

02 April 2007

News/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.

29 March 2007

News/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.

29 March 2007

News/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.

26 March 2007

News/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.

20 March 2007

News/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.

19 March 2007

News/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.

19 March 2007

News/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.

13 March 2007

News/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.

12 March 2007